K Allman Electrics Limited - Period Ending 2015-04-30

Registration number: 05433574

K Allman Electrics Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2015
 

K Allman Electrics Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

K Allman Electrics Limited
(Registration number: 05433574)
Abbreviated Balance Sheet at 30 April 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					120,000			132,000
Tangible fixed assets					10,338			2,875
					130,338			134,875
Current assets
Stocks					1,500			1,500
Debtors					15,177			22,053
Cash at bank and in hand					19,987			15,474
					36,664			39,027
Creditors: Amounts falling due within one year					(109,565)			(108,550)
Net current liabilities					(72,901)			(69,523)
Total assets less current liabilities					57,437			65,352
Creditors: Amounts falling due after more than one year					(9,841)			-
Net assets					47,596			65,352
Capital and reserves
Called up share capital		3			160			160
Profit and loss account					47,436			65,192
Shareholders' funds					47,596			65,352

For the year ending 30 April 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 .

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

K Allman Electrics Limited
(Registration number: 05433574)
Abbreviated Balance Sheet at 30 April 2015
......... continued

Approved by the Board on 28 January 2016 and signed on its behalf by:

.........................................
Mrs S Barton
Director

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

K Allman Electrics Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 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 is recognised when the company obtains the right to consideration.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	over 20 years

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
Office Equipment	25% Reducing Balance
Motor Vehicles	25% Reducing Balance

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

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Page 3

K Allman Electrics Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2015
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 May 2014		240,000			24,223			264,223
Additions		-			12,463			12,463
Disposals		-			(11,650)			(11,650)
At 30 April 2015		240,000			25,036			265,036
Depreciation
At 1 May 2014		108,000			21,348			129,348
Charge for the year		12,000			3,446			15,446
Eliminated on disposals		-			(10,096)			(10,096)
At 30 April 2015		120,000			14,698			134,698
Net book value
At 30 April 2015		120,000			10,338			130,338
At 30 April 2014		132,000			2,875			134,875

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		150			150			150			150
Ordinary B of £1 each		10			10			10			10
		160			160			160			160

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