Kent Produce Marketing Limited - Period Ending 2015-06-30

Company registration number: 05867364

Kent Produce Marketing Limited
 
  Annual Report and Unaudited Abbreviated Accounts
 
  Year Ended 30 June 2015
 

Beresfords
  Chartered Accountants
  Castle House
  Castle Hill Avenue
  Folkestone
  Kent
  CT20 2TQ

Kent Produce Marketing Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Kent Produce Marketing Limited
(Company registration number: 05867364)
Abbreviated Balance Sheet
30 June 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					1			1
Tangible fixed assets					152			8
					153			9
Current assets
Stocks					6,206			6,935
Debtors					160,216			144,812
Cash at bank and in hand					791,735			815,704
					958,157			967,451
Creditors: Amounts falling due within one year					(22,916)			(34,324)
Net current assets					935,241			933,127
Net assets					935,394			933,136
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					935,294			933,036
Shareholders' funds					935,394			933,136

The notes on pages 3 to 4 form an integral part of these financial statements.
 
  Page 1

Kent Produce Marketing Limited
(Company registration number: 05867364)
Abbreviated Balance Sheet
30 June 2015......... continued

For the year ending 30 June 2015 the company was entitled to exemption from audit 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 directors acknowledge their 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 Board on 3 September 2015 and signed on its behalf by:

......................................... S W Craig Director

The notes on pages 3 to 4 form an integral part of these financial statements.
 
  Page 2

Kent Produce Marketing Limited
Notes to the Abbreviated Accounts
Year Ended 30 June 2015......... 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 to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and is not amortised.

Amortisation

Goodwill is not amortised.

Asset class	Amortisation method and rate
Goodwill	Is not depreciated

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
Equipment	5 years straight line

Stock

Stock is 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.

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 3

Kent Produce Marketing Limited
Notes to the Abbreviated Accounts
Year Ended 30 June 2015......... 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 July 2014		1			2,020			2,021
Additions		-			190			190
At 30 June 2015		1			2,210			2,211
Depreciation
At 1 July 2014		-			2,012			2,012
Charge for the year		-			46			46
At 30 June 2015		-			2,058			2,058
Net book value
At 30 June 2015		1			152			153
At 30 June 2014		1			8			9

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary Shares of £1 each		100			100			100			100

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