Kay Electrical & Security Limited - Period Ending 2014-11-30

Registration number: 05596600

Kay Electrical & Security Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 November 2014
 

Kajaine Limited
Kajaine House
57-67 High Street
Edgware
HA8 7DD

Kay Electrical & Security Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Kay Electrical & Security Limited
(Registration number: 05596600)
Abbreviated Balance Sheet at 30 November 2014

		Note			30 November 2014 £			30 November 2013 £
Fixed assets
Tangible fixed assets					15,265			18,781
Current assets
Debtors					25,361			15,928
Cash at bank and in hand					39,537			49,217
					64,898			65,145
Creditors: Amounts falling due within one year					(57,468)			(67,280)
Net current assets/(liabilities)					7,430			(2,135)
Net assets					22,695			16,646
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					22,693			16,644
Shareholders' funds					22,695			16,646

For the year ending 30 November 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 special provisions for small companies under Part 15 of the Companies Act 2006 and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Approved by the director on 20 August 2015

.........................................
Mr Kamer Sengul
Director

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

Kay Electrical & Security Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 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).

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 fixed assets so as to write off the valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Positive goodwill	5 years on a straight line basis

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
Motor vehicles	25% on reducing balance basis
Office equipment	25% on reducing balance basis

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.

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.

Page 2

Kay Electrical & Security Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2014
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 December 2013		15,000			34,870			49,870
Additions		-			1,572			1,572
At 30 November 2014		15,000			36,442			51,442
Depreciation
At 1 December 2013		15,000			16,089			31,089
Charge for the year		-			5,088			5,088
At 30 November 2014		15,000			21,177			36,177
Net book value
At 30 November 2014		-			15,265			15,265
At 30 November 2013		-			18,781			18,781

3	Share capital

Allotted, called up and fully paid shares

	30 November 2014						30 November 2013
		No.			£			No.			£
Ordinary Shares of £1 each		2			2			2			2

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