Abbreviated Company Accounts - KEYDOWN LIMITED
Abbreviated Company Accounts - KEYDOWN LIMITED
Registered Number 02939364
KEYDOWN LIMITED
Abbreviated Accounts
30 June 2015
KEYDOWN LIMITED Registered Number 02939364
Abbreviated Balance Sheet as at 30 June 2015
Notes | 2015 | 2014 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Investments | 3 |
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Current assets | |||
Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
( |
( |
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Net current assets (liabilities) |
( |
( |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
( |
( |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 4 |
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Profit and loss account |
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Shareholders' funds |
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For the year ending 30 June 2015 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 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
And signed on their behalf by:
KEYDOWN LIMITED Registered Number 02939364
Notes to the Abbreviated Accounts for the period ended 30 June 2015
1Accounting Policies
Basis of measurement and preparation of accounts
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and Include the results of the Company's operations which are described in the Director’s Report and all of which are continuing.
The Company has taken advantage of the exemption in Financial Reporting Standard No.1 from the requirement to produce a cash flow statement on the
grounds that it is a small Company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the Company, net of Value Added Tax and trade discounts.
Investment Properties
In accordance with SSAP 19, (1) investment properties are re-valued annually and the aggregate surplus or deficit is transferred to a revaluation reserve, and (2) no depreciation is provided in respect of freehold investment properties. This is a departure from the Companies Act 1985 which requires assets which have a finite useful life to be depreciated where their cost (or valuation) is greater than their residual value (as assessed at the date of acquisition or valuation). The Directors consider that, following the reasoning in SSAP 19, depreciating the assets would not give a true and fair view because they are held for investment and not consumption. Consequently the current value of these investments, and changes in that current value, are of prime importance in assessing the financial position rather than a calculation of systematic annual depreciation and therefore the accounting policy adopted results in the accounts giving a true and fair view. Depreciation or amortisation is only one of the many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.
Deferred Taxation
Deferred taxation is provided using the liability method in respect of the taxation effect of all timing differences other than those expected with reasonable probability to continue in the foreseeable future.
£ | |
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Cost | |
At 1 July 2014 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 30 June 2015 |
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Depreciation | |
At 1 July 2014 |
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Charge for the year |
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On disposals |
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At 30 June 2015 |
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Net book values | |
At 30 June 2015 | 1,366,814 |
At 30 June 2014 | 1,366,814 |
3Fixed assets Investments
Shares held in Limited Companies at Cost 2015 - Nil 2014 - 44315