Abbreviated Company Accounts - K S E PACKAGING LIMITED

K S E PACKAGING LIMITED - Company Information

06242638 K S E PACKAGING LIMITED 2015-03-31 false 2014-04-01 2015-03-31 true 06242638 2014-04-01 2015-03-31 06242638 2015-03-31 06242638 2014-03-31 06242638 uk-gaap-cd-bus:Director1 2014-04-01 2015-03-31 06242638 uk-gaap-cd-bus:Director2 2014-04-01 2015-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-04-01 2015-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-03-31 iso4217:GBP shares

Registered Number 06242638

K S E PACKAGING LIMITED

Abbreviated Accounts

31 March 2015

K S E PACKAGING LIMITED Registered Number 06242638

Abbreviated Balance Sheet as at 31 March 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	1,706	39,325
		1,706	39,325
Current assets
Stocks		-	47,705
Debtors		11,809	324,508
Cash at bank and in hand		48,324	17,190
		60,133	389,403
Creditors: amounts falling due within one year		(88,369)	(513,060)
Net current assets (liabilities)		(28,236)	(123,657)
Total assets less current liabilities		(26,530)	(84,332)
Creditors: amounts falling due after more than one year		-	(32,584)
Total net assets (liabilities)		(26,530)	(116,916)
Capital and reserves
Called up share capital	3	5	5
Profit and loss account		(26,535)	(116,921)
Shareholders' funds		(26,530)	(116,916)

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 20 November 2015

And signed on their behalf by:
R M PRICE, Director

K S E PACKAGING LIMITED Registered Number 06242638

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.

The company sold it's trade and the majority of assets to Plasto-Sac UK Limited on 1 June 2014. The company is expected to cease trading within the next 12 months and therefore the financial statements have not been prepared on a going concern basis.

Turnover policy
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible assets depreciation policy
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:

Plant and machinery (50% straight line)
Computer equipment (25% reducing balance)
Fixtures, fittings & equipment (15-20% straight line)
Motor vehicles (25% straight line)

Other accounting policies
Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

Stock

Work in progress is valued at the lower of cost and net realisable value.

Revenue recognition

Revenue is recognised as earned income when, and to the extent that, the firm obtains the right to consideration in exchange for goods and services it has provided.

2Tangible fixed assets

	£
Cost
At 1 April 2014	122,059
Additions	975
Disposals	(102,565)
Revaluations	-
Transfers	-
At 31 March 2015	20,469
Depreciation
At 1 April 2014	82,734
Charge for the year	5,117
On disposals	(69,088)
At 31 March 2015	18,763
Net book values
At 31 March 2015	1,706
At 31 March 2014	39,325

3Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
5 Ordinary shares of £1 each	5	5

The company is a corporate guarantor for a factoring agreement with RBS Invoice Finance Limited held by fellow subsidiary Glass & Stainless Ltd. As at 31 March 2015 Glass & Stainless Ltd owed £45,339 (2014: £101,475) to RBS Invoice Finance Limited.