KEN_ELLIS_&_SON_LIMITED - Accounts

KEN ELLIS & SON LIMITED - Company Information

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Company Registration No. 00933859 (England and Wales)

KEN ELLIS & SON LIMITED

UNAUDITED ABBREVIATED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2016

KEN ELLIS & SON LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

KEN ELLIS & SON LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 JUNE 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

40,543

25,138

Investments

40,544

25,139

Current assets

Stocks

79,369

95,252

Debtors

171,759

509,707

Cash at bank and in hand

850,489

588,272

1,101,617

1,193,231

Creditors: amounts falling due within one year

(175,646)

(239,406)

Net current assets

925,971

953,825

Total assets less current liabilities

966,515

978,964

Provisions for liabilities

(8,109)

(5,028)

958,406

973,936

Capital and reserves

Called up share capital

1,000

Other reserves

1,616

Profit and loss account

955,790

971,320

Shareholders' funds

958,406

973,936

KEN ELLIS & SON LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

30 JUNE 2016

- 2 -

For the financial year ended 30 June 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 15 September 2016

Mr R K Ellis

Director

Company Registration No. 00933859

KEN ELLIS & SON LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Short term leasehold improvements

over the period of the lease

Plant and equipment

15% on reducing balance

Fixtures, fittings & equipment

10% on reducing balance or 25% straight line

Motor vehicles

25% on reducing balance

1.5

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.6

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.7

Stock

Stock 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.

1.8

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.9

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.10

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

KEN ELLIS & SON LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2016

Accounting policies

(Continued)

- 4 -

1.11

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 July 2015

110,319

110,320

Additions

26,458

Disposals

(12,783)

At 30 June 2016

123,994

123,995

Depreciation

At 1 July 2015

85,181

On disposals

(12,083)

Charge for the year

10,353

At 30 June 2016

83,451

Net book value

At 30 June 2016

40,543

40,544

At 30 June 2015

25,138

25,139

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

Ellis Property and Development Services Ltd

Ordinary

100.00

KEN ELLIS & SON LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2016

Fixed assets

(Continued)

- 5 -

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2016

Principal activity

Ellis Property and Development Services Ltd

Property development

2,746

Share capital

2016

2015

Allotted, called up and fully paid

1,000 Ordinary shares of £1 each

1,000