Kevin Alderton And Team Limited - Period Ending 2013-12-31

Registration number: 05558629

Kevin Alderton And Team Limited

trading as Kevin Alderton & Team Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2013
 

Kevin Alderton and Team
Chartered Accountants
14 South Way
Newhaven
East Sussex
BN9 9LL

Kevin Alderton And Team Limited
trading as Kevin Alderton & Team Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 7

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 7) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Kevin Alderton And Team Limited
trading as Kevin Alderton & Team Limited
for the Year Ended 31 December 2013

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Kevin Alderton And Team Limited for the year ended 31 December 2013 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Kevin Alderton And Team Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Kevin Alderton And Team Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kevin Alderton And Team Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Kevin Alderton And Team Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Kevin Alderton And Team Limited. You consider that Kevin Alderton And Team Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Kevin Alderton And Team Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Kevin Alderton and Team
Chartered Accountants
14 South Way
Newhaven
East Sussex
BN9 9LL

29 September 2014

Page 1

Kevin Alderton And Team Limited
trading as Kevin Alderton & Team Limited
(Registration number: 05558629)
Abbreviated Balance Sheet at 31 December 2013

		Note			2013 £			2012 £
Fixed assets
Intangible fixed assets					215,000			215,000
Tangible fixed assets					53,826			62,680
					268,826			277,680
Current assets
Stocks					25,000			15,000
Debtors					102,223			133,322
Cash at bank and in hand					158			50
					127,381			148,372
Creditors: Amounts falling due within one year					(125,614)			(179,105)
Net current assets/(liabilities)					1,767			(30,733)
Total assets less current liabilities					270,593			246,947
Creditors: Amounts falling due after more than one year					(154,447)			(174,418)
Provisions for liabilities					(11,185)			(7,860)
Net assets					104,961			64,669
Capital and reserves
Called up share capital		4			1			1
Profit and loss account					104,960			64,668
Shareholders' funds					104,961			64,669

For the year ending 31 December 2013 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 director acknowledges his 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 director on 29 September 2014

The notes on pages 4 to 7 form an integral part of these financial statements.
Page 2

Kevin Alderton And Team Limited
trading as Kevin Alderton & Team Limited
(Registration number: 05558629)
Abbreviated Balance Sheet at 31 December 2013
......... continued

.........................................
Mr Kevin Robert Alderton BA FCA
Director

The notes on pages 4 to 7 form an integral part of these financial statements.
Page 3

Kevin Alderton And Team Limited
trading as Kevin Alderton & Team Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... 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 represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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

Positive goodwill is amortised on a straight line basis over its useful economic life.

Asset class	Amortisation method and rate
Goodwill	Not amortised

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% on reducing balance
Motor Vehicles	25% on reducing balance
Office Equipment	15% reducing balance

Work in progress

Work in progress 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

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.

Page 4

Kevin Alderton And Team Limited
trading as Kevin Alderton & Team Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... continued

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.

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.

Page 5

Kevin Alderton And Team Limited
trading as Kevin Alderton & Team Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 January 2013		215,000			131,244			346,244
Additions		-			13,481			13,481
At 31 December 2013		215,000			144,725			359,725
Depreciation
At 1 January 2013		-			68,564			68,564
Charge for the year		-			22,335			22,335
At 31 December 2013		-			90,899			90,899
Net book value
At 31 December 2013		215,000			53,826			268,826
At 31 December 2012		215,000			62,680			277,680

3

Creditors

Included in the creditors are the following amounts due after more than five years:

		2013 £			2012 £
After more than five years by instalments		150,000			150,000

4	Share capital

Allotted, called up and fully paid shares

	2013						2012
		No.			£			No.			£
Ordinary shares of £1 each		1			1			1			1

Page 6

Kevin Alderton And Team Limited
trading as Kevin Alderton & Team Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... continued

5	Related party transactions

Director's advances and credits

	2013 Advance/ Credit £	2013 Repaid £	2012 Advance/ Credit £	2012 Repaid £
Mr Kevin Robert Alderton BA FCA
Advances	69,584	30,000	28,999	20,000

Page 7