Kingston Garden Services Limited - Period Ending 2015-12-31

Kingston Garden Services Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015
 

Registration number: 4625750

Kingston Garden Services Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Kingston Garden Services Limited (Registration number: 4625750)
Abbreviated Balance Sheet
at 31 December 2015

		Note			2015						2014
	£			£			£			£
Fixed assets
Tangible fixed assets								437,218						311,811
Current assets
Stocks					156,707						136,463
Debtors					1,318,233						1,064,589
Cash at bank and in hand					306,731						255,904
					1,781,671						1,456,956
Creditors: Amounts falling due within one year					(1,097,696)						(1,039,550)
Net current assets								683,975						417,406
Total assets less current liabilities								1,121,193						729,217
Creditors: Amounts falling due after more than one year								(189,005)						(139,986)
Provisions for liabilities								(78,000)						(57,000)
Net assets								854,188						532,231
Capital and reserves
Called up share capital		3			2						2
Profit and loss account					854,186						532,229
Shareholders' funds								854,188						532,231

For the year ending 31 December 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 8 March 2016 and signed on its behalf by:

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

Kingston Garden Services Limited (Registration number: 4625750)
Abbreviated Balance Sheet
at 31 December 2015

.........................................
Mr S Evans
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Kingston Garden Services Limited
Notes to the Abbreviated Accounts
for the Year Ended 31 December 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 January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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
Plant and machinery	25% reducing balance
Fixtures and fittings	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.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 3

Kingston Garden Services Limited
Notes to the Abbreviated Accounts
for the Year Ended 31 December 2015......... continued

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2015		689,978			689,978
Additions		287,479			287,479
Disposals		(63,981)			(63,981)
At 31 December 2015		913,476			913,476
Depreciation
At 1 January 2015		378,167			378,167
Charge for the year		153,168			153,168
Eliminated on disposals		(55,077)			(55,077)
At 31 December 2015		476,258			476,258
Net book value
At 31 December 2015		437,218			437,218
At 31 December 2014		311,811			311,811

Page 4

Kingston Garden Services Limited
Notes to the Abbreviated Accounts
for the Year Ended 31 December 2015......... continued

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		2			2			2			2

Page 5