KR Associates (UK) Ltd - Limited company - abbreviated - 11.9

KR Associates (UK) Ltd

Abbreviated Unaudited Accounts

for the Year Ended

31 May 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

R Scrivener

Mrs S Z Scrivener

REGISTERED OFFICE:

56 Bassett Green Road

Southampton

Hampshire

SO16 3DX

REGISTERED NUMBER:

04813349 (England and Wales)

ACCOUNTANTS:

David Tilsley Limited

91 Lakewood Road

Chandlers Ford

Eastleigh

Hampshire

SO53 5AD

FIXED ASSETS

Tangible assets

2

92,508

107,809

CURRENT ASSETS

Debtors

116,992

138,650

Cash at bank

8,863

16,062

125,855

154,712

CREDITORS

Amounts falling due within one year

126,717

138,799

NET CURRENT (LIABILITIES)/ASSETS

(862

)

15,913

TOTAL ASSETS LESS CURRENT LIABILITIES

91,646

123,722

CREDITORS

Amounts falling due after more than one year

(21,460

)

(24,239

)

PROVISIONS FOR LIABILITIES

(11,217

)

(13,400

)

NET ASSETS

58,969

86,083

CAPITAL AND RESERVES

Called up share capital

3

1,000

1,000

Profit and loss account

57,969

85,083

SHAREHOLDERS' FUNDS

58,969

86,083

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 23 February 2016 and were signed on its behalf by:

R Scrivener - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of service contracts

where turnover is recognised when the company obtains the right to consideration.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

20% on cost

Plant and machinery etc

-

25% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2014

266,827

Additions

15,768

At 31 May 2015

282,595

DEPRECIATION

At 1 June 2014

159,018

Charge for year

31,069

At 31 May 2015

190,087

NET BOOK VALUE

At 31 May 2015

92,508

At 31 May 2014

107,809

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.15

31.5.14

value:

£

£

NIL

Ordinary

£1

-

1,000

(31.5.14 - 1,000 )

500

Ordinary A

£1

500

-

500

Ordinary B

£1

500

-

1,000

1,000

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2015 and

31 May 2014:

31.5.15

31.5.14

£

£

R Scrivener and Mrs S Z Scrivener

Balance outstanding at start of year

27,127

11,980

Amounts advanced

78,000

77,147

Amounts repaid

(91,000

)

(62,000

)

Balance outstanding at end of year

14,127

27,127

J D Earwood and Mrs C S Earwood

Balance outstanding at start of year

7,747

1,707

Amounts advanced

36,875

68,040

Amounts repaid

(44,622

)

(62,000

)

Balance outstanding at end of year

-

7,747