NG & JK Ind Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 04666025 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 29 February 2016

for

NG & JK IND LTD

Page

Company Information

1

Chartered Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

5

DIRECTORS:

N G Ind

J K Ind

SECRETARY:

J K Ind

REGISTERED OFFICE:

Alderton 4 Priory Park

Priory Industrial Estate

London Road

Tetbury

Gloucestershire

GL8 8HW

REGISTERED NUMBER:

04666025 (England and Wales)

ACCOUNTANTS:

Richardson Swift

Chartered Accountants

11 Laura Place

Bath

BA2 4BL

The following reproduces the text of the report prepared for the directors in respect of the

company's annual unaudited financial statements, from which the unaudited abbreviated

accounts (set out on pages three to seven) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for

your approval the financial statements of NG & JK Ind Ltd for the year ended 29 February 2016

which comprise the Profit and Loss Account, the Balance Sheet, the Cash Flow Statement, the

Statement of Total Recognised Gains and Losses and the related notes 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 NG & JK Ind Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of NG & JK Ind Ltd and state those matters that we have agreed to state to the Board of Directors of NG & JK Ind Ltd, 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 the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that NG & JK Ind Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of NG & JK Ind Ltd. You consider that NG & JK Ind Ltd 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 financial statements of NG & JK Ind Ltd. 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 financial statements.

Richardson Swift

Chartered Accountants

11 Laura Place

Bath

BA2 4BL

31 August 2016

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

53,983

39,736

53,983

39,736

CURRENT ASSETS

Stocks and work in progress

10,000

5,500

Debtors

101,451

62,938

111,451

68,438

CREDITORS

Amounts falling due within one year

115,890

90,570

NET CURRENT LIABILITIES

(4,439

)

(22,132

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

49,544

17,604

CREDITORS

Amounts falling due after more than
one year

13,562

6,679

NET ASSETS

35,982

10,925

CAPITAL AND RESERVES

Called up share capital

4

2

Profit and loss account

35,980

10,923

SHAREHOLDERS' FUNDS

35,982

10,925

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the
company as at the end of each financial year and of its profit or loss for each financial year in
accordance with the requirements of Sections 394 and 395 and which otherwise comply with
the requirements of the Companies Act 2006 relating to financial statements, so far as
applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 26 August 2016 and were
signed on its behalf by:

J K Ind - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in

accordance with the Financial Reporting Standard for Smaller Entities (effective January

2015).

Turnover

Turnover represents net sales of goods and services, excluding value added tax. Turnover

is recognised when the goods are dispatched or services are completed.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004,

has been fully amortised over its useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

20% on reducing balance

Commercial vehicles

-

25% on reducing balance

Plant and machinery

-

15% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after

making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the

balance sheet. Those held under hire purchase contracts are depreciated over their

estimated useful lives. Those held under finance leases are depreciated over their

estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the

relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to

the company's pension scheme are charged to the profit and loss account in the period to

which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 March 2015

and 29 February 2016

80,000

AMORTISATION

At 1 March 2015

and 29 February 2016

80,000

NET BOOK VALUE

At 29 February 2016

-

At 28 February 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 March 2015

107,486

Additions

33,179

Disposals

(12,403

)

At 29 February 2016

128,262

DEPRECIATION

At 1 March 2015

67,750

Charge for year

17,453

Eliminated on disposal

(10,924

)

At 29 February 2016

74,279

NET BOOK VALUE

At 29 February 2016

53,983

At 28 February 2015

39,736

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

2

Ordinary

£1

2

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended

29 February 2016 and 28 February 2015:

2016

2015

£

N G Ind and J K Ind

Balance outstanding at start of year

18,477

30,245

Amounts advanced

31,530

33,732

Amounts repaid

(20,000

)

(45,500

)

Balance outstanding at end of year

30,007

18,477