Southern Kitchen Installations Limited - Period Ending 2014-10-31

Registration number: 04579022

Southern Kitchen Installations Limited
 
  and Unaudited Abbreviated Accounts
 
  for the Year Ended 31 October 2014
 

Manningtons
8 High Street
Heathfield
East Sussex
TN21 8LS

Southern Kitchen Installations Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Southern Kitchen Installations Limited
(Registration number: 04579022)
Abbreviated Balance Sheet at 31 October 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					1,951			2,168
Current assets
Stocks					2,104			17,767
Debtors					500			-
					2,604			17,767
Creditors: Amounts falling due within one year					(22,066)			(39,957)
Net current liabilities					(19,462)			(22,190)
Net liabilities					(17,511)			(20,022)
Capital and reserves
Called up share capital		3			1			1
Profit and loss account					(17,512)			(20,023)
Shareholders' deficit					(17,511)			(20,022)

For the year ending 31 October 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

Approved by the director on 7 May 2015

.........................................
Mr CJ Payne
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Southern Kitchen Installations Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible assets so as to write off over its estimated useful life.

Asset class	Amortisation method and rate
Goodwill	Straight line over 10 years

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	10% reducing balance
Office equipment	10% reducing balance

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 2

Southern Kitchen Installations Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2014
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 November 2013		15,000			5,953			20,953
At 31 October 2014		15,000			5,953			20,953
Depreciation
At 1 November 2013		15,000			3,785			18,785
Charge for the year		-			217			217
At 31 October 2014		15,000			4,002			19,002
Net book value
At 31 October 2014		-			1,951			1,951
At 31 October 2013		-			2,168			2,168

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary of £1 each		1			1			1			1

Page 3