Abbreviated Company Accounts - L & J KING LIMITED

Abbreviated Company Accounts - L & J KING LIMITED

L & J KING LIMITED - Company Information

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Registered Number 04776669

L & J KING LIMITED

Abbreviated Accounts

31 March 2015

L & J KING LIMITED Registered Number 04776669

Abbreviated Balance Sheet as at 31 March 2015

Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 11,086 3,298
11,086 3,298
Current assets
Stocks 231,141 321,501
Debtors 395,766 412,303
Cash at bank and in hand 400,376 271,217
1,027,283 1,005,021
Creditors: amounts falling due within one year (577,230) (674,015)
Net current assets (liabilities) 450,053 331,006
Total assets less current liabilities 461,139 334,304
Total net assets (liabilities) 461,139 334,304
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 460,139 333,304
Shareholders' funds 461,139 334,304
  • For the year ending 31 March 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 4 November 2015

And signed on their behalf by:
Laura Jane Morris- King, Director

L & J KING LIMITED Registered Number 04776669

Notes to the Abbreviated Accounts for the period ended 31 March 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year. Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 10 years.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Fixtures, fittings and equipment - 25% straight line
Motor vehicles - 25% straight line

Valuation information and policy
Stock-Stock is valued at the lower of cost and net realisable value.

2Tangible fixed assets
£
Cost
At 1 April 2014 75,475
Additions 11,850
Disposals (29,232)
Revaluations -
Transfers -
At 31 March 2015 58,093
Depreciation
At 1 April 2014 72,177
Charge for the year 4,062
On disposals (29,232)
At 31 March 2015 47,007
Net book values
At 31 March 2015 11,086
At 31 March 2014 3,298