KBW Limited Produce iXBRL abbreviated or dormant small company accounts for eFiling

COMPANY REGISTRATION NUMBER 03061130

KBW LIMITED

UNAUDITED ABBREVIATED ACCOUNTS

FOR

30 September 2014

ALDERWICK JAMES & CO

Chartered Accountants

4 The Sanctuary

23 Oakhill Grove

Surbiton

Surrey

KT6 6DU

KBW LIMITED

ABBREVIATED BALANCE SHEET

30 September 2014

		2014		2013
Note		£	£	£	£
FIXED ASSETS	2
Tangible assets			12,114		8,117
			---------		-------
			12,114		8,117

CURRENT ASSETS

Debtors	261,760		375,438
Cash at bank and in hand	547,257		232,527
	----------		----------
	809,017		607,965
CREDITORS: Amounts falling due within one year	292,451		87,673
	----------		----------
NET CURRENT ASSETS		516,566		520,292
		----------		----------
TOTAL ASSETS LESS CURRENT LIABILITIES		528,680		528,409
		----------		----------

CAPITAL AND RESERVES

Called-up equity share capital	4	1,000	1,000
Profit and loss account		527,680	527,409
		----------	----------
SHAREHOLDERS' FUNDS		528,680	528,409
		----------	----------

For the year ended 30th September 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.

These abbreviated accounts were approved by the directors and authorised for issue on 29 June 2015 , and are signed on their behalf by:

$#D1

T KIRKPATRICK N BARNES

DIRECTOR DIRECTOR

Company Registration Number: 03061130

KBW LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

YEAR ENDED 30TH SEPTEMBER 2014

1. ACCOUNTING POLICIES

Basis of accounting

The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Fixed assets

All fixed assets are initially recorded at cost. Fixed asset investments Fixed Asset Investments are initially recorded at cost. Gains and losses caused by changes in market prices are shown in the statement of total recognised gains and losses. Revaluation gains and losses arising other than by a change in market values are recorded in the profit and loss account.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Fixtures & Fittings - 25% straight line

Equipment - 25 to 33.3% straight line

Pension costs

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

Two directors are accruing benefits under money purchase schemes (2013 - two).

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Employee benefit trusts (EBTs)

The company has purchased a trust for the benefit of employees and certain of their dependants. Monies held in this trust are held by independent trustees and managed at their discretion.

Where the company retains future economic benefit from, and has de facto control of the assets and liabilities of the trust, they are accounted for as assets and liabilities of the company until the earlier of the date that an allocation of trust funds to employees in respect of past services is declared and the date that assets of the trust vest in identified individuals.

Where monies held in a trust are determined by the company on the basis of employees' past services to the business and the company can obtain no future economic benefit from those monies, such monies, whether in the trust or accrued for by the company are charged to the profit and loss account in the period to which they relate.

2. FIXED ASSETS

	Tangible Assets
	£

COST

At 1st October 2013	144,760
Additions	11,738
Disposals	( 76,543)
	----------
At 30th September 2014	79,955
	----------

DEPRECIATION

At 1st October 2013	136,643
Charge for year	6,298
On disposals	( 75,100)
	----------
At 30th September 2014	67,841
	----------

NET BOOK VALUE

At 30th September 2014	12,114
	---------
At 30th September 2013	8,117
	---------

3. RELATED PARTY TRANSACTIONS

The company was not under the control of any individual throughout the current and previous year.

During the year dividends of £149,250 (2013 - £93,200) were paid to Mr T Kirkpatrick, Mr N Barnes, Mrs F Kirkpatrick and Mrs A Barnes. All four are directors of the company.

During the year the company made advances of £7,896 to Mr N Barnes. The advances which were interest free and repayable on demand were repaid in full before the year end.

During the year the company made advances of £3,336 to Mr T Kirkpatrick. The advances which were interest free and repayable on demand were repaid in full before the year end.

No other transactions with related parties were undertaken such as are required to be disclosed under the FRSSE.

4. SHARE CAPITAL

Authorised share capital:

	2014	2013
	£	£
1,000 Ordinary shares of £ 1 each	1,000	1,000
	-------	-------
	1,000	1,000
	-------	-------

4. SHARE CAPITAL (continued)

Allotted, called up and fully paid:

	2014		2013
	No	£	No	£
Ordinary shares of £ 1 each	1,000	1,000	1,000	1,000
	-------	-------	-------	-------
	1,000	1,000	1,000	1,000
	-------	-------	-------	-------