Abbreviated Company Accounts - K WILLIAMS MOTORCYCLES LIMITED

K WILLIAMS MOTORCYCLES LIMITED - Company Information

04602786 K WILLIAMS MOTORCYCLES LIMITED 2015-11-30 false 2014-12-01 2015-11-30 true 04602786 2014-12-01 2015-11-30 04602786 2015-11-30 04602786 2014-11-30 04602786 uk-gaap-cd-bus:Director1 2014-12-01 2015-11-30 04602786 uk-gaap-cd-bus:Director2 2014-12-01 2015-11-30 uk-gaap-cd-bus:Director3 2014-12-01 2015-11-30 uk-gaap-cd-bus:Director3 2015-11-30 uk-gaap-cd-bus:Director3 2014-11-30 uk-gaap-cd-bus:OrdinaryShareClass1 2014-12-01 2015-11-30 uk-gaap-cd-bus:OrdinaryShareClass1 2015-11-30 uk-gaap-cd-bus:OrdinaryShareClass1 2014-11-30 iso4217:GBP shares

Registered Number 04602786

K WILLIAMS MOTORCYCLES LIMITED

Abbreviated Accounts

30 November 2015

K WILLIAMS MOTORCYCLES LIMITED Registered Number 04602786

Abbreviated Balance Sheet as at 30 November 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	19,663	20,612
		19,663	20,612
Current assets
Stocks		8,000	7,500
Debtors		1,680	1,498
Cash at bank and in hand		8,066	2,888
		17,746	11,886
Creditors: amounts falling due within one year		(11,357)	(8,928)
Net current assets (liabilities)		6,389	2,958
Total assets less current liabilities		26,052	23,570
Provisions for liabilities		(2,678)	(2,711)
Total net assets (liabilities)		23,374	20,859
Capital and reserves
Called up share capital	3	1	1
Profit and loss account		23,373	20,858
Shareholders' funds		23,374	20,859

For the year ending 30 November 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 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 Board on 23 August 2016

And signed on their behalf by:
K R Williams, Director

K WILLIAMS MOTORCYCLES LIMITED Registered Number 04602786

Notes to the Abbreviated Accounts for the period ended 30 November 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
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 of the motorcycle engineering business and MOT Testing Station.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives;

Leasehold property improvements 10% straight line
Plant and machinery 10% reducing balance
Motor vehicles 25% reducing balance

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

Other accounting policies
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.

2Tangible fixed assets

	£
Cost
At 1 December 2014	33,278
Additions	1,787
Disposals	-
Revaluations	-
Transfers	-
At 30 November 2015	35,065
Depreciation
At 1 December 2014	12,666
Charge for the year	2,736
On disposals	-
At 30 November 2015	15,402
Net book values
At 30 November 2015	19,663
At 30 November 2014	20,612

3Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
1 Ordinary shares of £1 each	1	1

4Transactions with directors

Name of director receiving advance or credit:	Mr K R Williams
Description of the transaction:	Interest free loan
Balance at 1 December 2014:	£ 829
Advances or credits made:	-
Advances or credits repaid:	£ 829
Balance at 30 November 2015:	£ 0