KEL-BERG_FINANCE_LIMITED - Accounts

KEL-BERG FINANCE LIMITED - Company Information

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Company Registration No. 03885749 (England and Wales)

KEL-BERG FINANCE LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2015

KEL-BERG FINANCE LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

KEL-BERG FINANCE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 JUNE 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

101,806

140,426

Investments

101,881

140,501

Current assets

Debtors

438,370

217,319

Cash at bank and in hand

84,778

27,449

523,148

244,768

Creditors: amounts falling due within one year

(134,805)

(161,920)

Net current assets

388,343

82,848

Total assets less current liabilities

490,224

223,349

Creditors: amounts falling due after more than one year

(104,355)

(126,180)

Provisions for liabilities

(20,361)

(28,085)

365,508

69,084

Capital and reserves

Called up share capital

101

Profit and loss account

365,407

68,983

Shareholders' funds

365,508

69,084

KEL-BERG FINANCE LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

30 JUNE 2015

- 2 -

For the financial year ended 30 June 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 21 October 2015

J Larsen

Director

Company Registration No. 03885749

KEL-BERG FINANCE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors. On this basis the accounts have been prepared on a going concern basis.

1.2

Turnover

Turnover represents amounts receivable in respect of operating lease rentals and for services of the provision of funding net of VAT.

Income in respect of the operating lease rentals is recognised on a receivable basis in accordance with the lease terms.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Motor vehicles

period of operating lease

1.4

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

1.5

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.6

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.7

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

KEL-BERG FINANCE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2015

- 4 -

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 July 2014

193,818

193,893

Disposals

(29,713)

At 30 June 2015

164,105

164,180

Depreciation

At 1 July 2014

53,392

On disposals

(29,713)

Charge for the year

38,620

At 30 June 2015

62,299

Net book value

At 30 June 2015

101,806

101,881

At 30 June 2014

140,426

140,501

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

Kel-Berg Used Limited

England & Wales

Ordinary

75.00

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2015

Principal activity

Kel-Berg Used Limited

Vehicle retailer

153,005

155,368

KEL-BERG FINANCE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2015

- 5 -

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100

1 Ordinary B share of £1 each

101

The Ordinary B share holds no rights to voting, capital or to participate in a distribution on winding up.

Transactions with directors

During the year dividends of £95,486 (2014: £155,000) were paid to the directors.

Ultimate parent company

The ultimate controlling party is its director J Larsen.