Accounts filed on 30-09-2015

trueKBW Limited030611302015-09-3052228952768052328952868010001000523289528680128105245705286805079315165661759402924516838718090176896926176061490254725716639121141663912114Basis of accounting 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 The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion. Pension costs The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account. Deferred taxation Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions: Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold. Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date. Fixed Assets All fixed assets are initially recorded at cost. Fixed asset investments Fixed Asset Investments are initially recorded at cost. Gains and losses caused by changes in market prices are shown in the statement of total recognised gains and losses. Revaluation gains and losses arising other than by a change in market values are recorded in the profit and loss account. Financial Instruments Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. Employee Benefit Trusts (EBTs) The company has purchased a trust for the benefit of employees and certain of their dependants. Monies held in this trust are held by independent trustees and managed at their discretion. Where the company retains future economic benefit from, and has de facto control of the assets and liabilities of the trust, they are accounted for as assets and liabilities of the company until the earlier of the date that an allocation of trust funds to employees in respect of past services is declared and the date that assets of the trust vest in identified individuals. Where monies held in a trust are determined by the company on the basis of employees' past services to the business and the company can obtain no future economic benefit from those monies, such monies, whether in the trust or accrued for by the company are charged to the profit and loss account in the period to which they relate. Fixtures & Fittingsstraight line0.2500Office Equipmentstraight line 25 to 33.3%0.0000 Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit. 515367995512566-4098534897678418042-40986515367995512566-409853489767841-409868042Ordinary1000110001000Ordinary1100010001000The company was not under the control of any individual throughout the current and previous year. During the year dividends of £132,500 (2014 - £149,250) were paid to Mr T Kirkpatrick, Mr N Barnes, Mrs F Kirkpatrick and Mrs A Barnes. All four are directors of the company. During the year the company made advances of £2,603 to Mr N Barnes, £45 to Mrs F Kirkpatrick and £45 to Mrs A Barnes. The advances which were interest free and repayable on demand were repaid in full before the year end. No other transactions with related parties were undertaken such as are required to be disclosed under the FRSSE.2016-06-30T KIRKPATRICKN BARNESDIRECTORtruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureKBW Limited2014-10-012015-09-30KBW Limited2013-10-012014-09-30KBW Limited2013-09-30KBW Limited2014-09-30KBW Limited2014-09-30KBW Limited2015-09-30 2016-06-30