K1 Contracting Limited Accounts

K1 CONTRACTING LIMITED - Company Information






K1 Contracting Limited
	Company No. 06030470
		Abbreviated Accounts
		31 December 2015

at	31 December 2015

Company No.		06030470	Notes	2015	2014
				£	£
Fixed assets

	Tangible assets		2	57,001	696

				57,001	696
Current assets

	Debtors			-	8,419

	Cash at bank and in hand			14,407	9,166
				14,407	17,585
Creditors: Amounts falling due within one year				(24,491)	(17,736)
Net current liabilities				(10,084)	(151)
Total assets less current liabilities				46,917	545
Creditors: Amounts falling due after more than one year				(25,000)	-



Net assets				21,917	545

Capital and reserves
	Called up share capital		3	1	1



	Profit and loss account			21,916	544

Shareholder's funds				21,917	545

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in part 15 of the Companies Act 2006 and with the Financial Reporting Standard for Smaller Entities (effective January 2015).

For the year ended 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 01 March 2016

And signed on its behalf by:

K. Essex
Director
01 March 2016

for the year ended 31 December 2015

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) ["the FRSSE"].

Turnover

Turnover represents the amounts (excluding value added tax) derived from the provision of goods and services to customers.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Furniture, fittings and equipment

33% Straight Line

Freehold investment property

In accordance with the FRSSE, investment properties are revalued annually and any surplus or deficit is transferred to revaluation reserve. No depreciation is provided in respect of investment properties.
This treatment conflicts with the requirements of the Companies Act 2006 that all properties should be depreciated. The directors consider that, because these properties are not held for consumption, but for their investment potential it is necessary to adopt the requirements of the FRSSE in order to give a true and fair view.

2	Fixed assets
		Tangible fixed assets	Total
		£	£
	Cost or revaluation
	At 1 January 2015	3,614	3,614
	Additions	57,000	57,000



	At 31 December 2015	60,614	60,614
	Amortisation
	At 1 January 2015	2,918	2,918
	Charge for the year	695	695



	At 31 December 2015	3,613	3,613
	Net book values
	At 31 December 2015	57,001	57,001
	At 31 December 2014	696	696

3	Share Capital
		Nominal value	2015	2015	2014
		£	Number	£	£
	Allotted, called up and fully paid:
	Ordinary	1.00	1	1	1




				1	1