KNEKTD LIMITED - Abbreviated accounts

Registered number

06343911

KNEKTD LIMITED

Abbreviated Accounts

31 July 2015

KNEKTD LIMITED
Registered number:		06343911
Abbreviated Balance Sheet
as at 31 July 2015

Notes			2015			2014
£				£
Fixed assets
Tangible assets	2		2,624			3,499

Current assets
Stocks		2,100			3,279
Debtors		104,203			106,146
Cash at bank and in hand		51,086			41,343
		157,389			150,768

Creditors: amounts falling due within one year		(72,234)			(50,693)

Net current assets			85,155			100,075

Total assets less current liabilities			87,779			103,574


Provisions for liabilities			(1,191)			(1,191)


Net assets			86,588			102,383

Capital and reserves
Called up share capital	3		1,050			1,000
Profit and loss account			85,538			101,383

Shareholders' funds			86,588			102,383

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



Mr Shaun Wilson
Director
Approved by the board on 20 April 2016

KNEKTD LIMITED
Notes to the Abbreviated Accounts
for the year ended 31 July 2015

1	Accounting policies

	Basis of preparation
	The accounts 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 the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Plant and machinery			25% reducing balance
	Motor vehicles			25% reducing balance

	Stocks
	Stock is valued at the lower of cost and net realisable value.

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

	Leasing and hire purchase commitments
	Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of the rental obligations 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. Rentals paid under operating leases are charged to income on a straight line basis over the lease term.


2	Tangible fixed assets					£

	Cost
	At 1 August 2014					9,995
	At 31 July 2015					9,995

	Depreciation
	At 1 August 2014					6,496
	Charge for the year					875
	At 31 July 2015					7,371

	Net book value
	At 31 July 2015					2,624
	At 31 July 2014					3,499


3	Share capital	Nominal		2015		2015		2014
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		1,000		1,000		1,000
	B Ordinary shares	£1 each		50		50		-
						1,050		1,000

Nominal			Number		Amount
value			£
	Shares issued during the period:
	B Ordinary shares	£1 each		50		50