James Kingan and Sons Limited - Limited company - abbreviated - 11.6
James Kingan and Sons Limited - Limited company - abbreviated - 11.6
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts for the Year Ended 31st May 2015 |
| for |
| James Kingan and Sons Limited |
| James Kingan and Sons Limited (Registered number: SC024140) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 31st May 2015 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 | to | 4 |
| Report of the Accountants | 5 |
| James Kingan and Sons Limited |
| Company Information |
| for the Year Ended 31st May 2015 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| BANKERS: |
| James Kingan and Sons Limited (Registered number: SC024140) |
| Abbreviated Balance Sheet |
| 31st May 2015 |
| 2015 | 2014 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 3 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 3 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 4 |
| Revaluation reserve |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the Board of Directors on |
| James Kingan and Sons Limited (Registered number: SC024140) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 31st May 2015 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain |
| assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
| Turnover |
| Turnover represents net invoiced sawmill and timber sales, excluding value added tax. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| Amounts written off each asset over the estimated useful life represent cost less residual value. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving |
| items. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire |
| purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over |
| their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital |
| element of the future payments is treated as a liability. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are |
| charged to the profit and loss account in the period to which they relate. |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST OR VALUATION |
| At 1st June 2014 |
| Additions |
| Disposals | ( |
) |
| At 31st May 2015 |
| DEPRECIATION |
| At 1st June 2014 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31st May 2015 |
| NET BOOK VALUE |
| At 31st May 2015 |
| At 31st May 2014 |
| 3. | CREDITORS |
| Creditors include an amount of £ |
| James Kingan and Sons Limited (Registered number: SC024140) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31st May 2015 |
| 4. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2015 | 2014 |
| value: | £ | £ |
| Ordinary Shares | £1 |
| 5. | OVERALL CONTROL |
| A director of the company, D S Kingan, owns 100% of the issued share capital and therefore has control of the company. |
| James Kingan and Sons Limited |
| Report of the Accountants to the Directors of |
| James Kingan and Sons Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited |
| financial statements, from which the unaudited abbreviated accounts (set out on pages two to four) have been prepared. |
| As described on the balance sheet you are responsible for the preparation of the financial statements for the year ended 31st May 2015 set out on pages three to eight and you consider that the company is exempt from an audit. |
| In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
| 13th August 2015 |