HKS_INTERIORS_LIMITED - Accounts

HKS INTERIORS LIMITED - Company Information

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Company Registration No. 04321925 (England and Wales)

HKS INTERIORS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

HKS INTERIORS LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

HKS INTERIORS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Intangible assets

9,000

10,500

Tangible assets

514,344

36,780

523,344

47,280

Current assets

Stocks

443,450

355,660

Debtors

37,021

53,168

Cash at bank and in hand

43,621

134,551

524,092

543,379

Creditors: amounts falling due within one year

(535,298)

(431,663)

Net current liabilities/(assets)

(11,206)

111,716

Total assets less current liabilities

512,138

158,996

Creditors: amounts falling due after more than one year

(378,007)

134,131

158,996

Capital and reserves

Called up share capital

100

Profit and loss account

134,031

158,896

Shareholders' funds

134,131

158,996

HKS INTERIORS LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 DECEMBER 2015

- 2 -

For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 6 May 2016

T J Burgess

Director

Company Registration No. 04321925

HKS INTERIORS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

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).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Income and profit are recognised when work has been completed.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land 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:

Land and buildings Freehold

Land not depreciated. Buildings depreciated at 2% straight line.

Fixtures, fittings & equipment

15% Reducing balance

Motor vehicles

25% Reducing balance

1.6

Stock

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

HKS INTERIORS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 January 2015

30,000

140,394

170,394

Additions

500,454

Disposals

(27,355)

At 31 December 2015

30,000

613,493

643,493

Depreciation

At 1 January 2015

19,500

103,614

123,114

On disposals

(21,477)

Charge for the year

1,500

17,012

18,512

At 31 December 2015

21,000

99,149

120,149

Net book value

At 31 December 2015

9,000

514,344

523,344

At 31 December 2014

10,500

36,780

47,280

Creditors: amounts falling due after more than one year

2015

2014

Total amounts repayable by instalments which are due in more than five years

275,772

The aggregate amount of creditors for which security has been given amounted to £393,425 (2014 - £0).

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100