Kemwell Thermal Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 02829049 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31st December 2015

for

KEMWELL THERMAL LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

R W Parkes

T Buckley

SECRETARY:

Mrs D Parkes

REGISTERED OFFICE:

Lower Farm

Taynton

Burford

Oxfordshire

OX18 4UH

REGISTERED NUMBER:

02829049 (England and Wales)

ACCOUNTANTS:

Bakers

(The practising name of

Baker (Midlands) Limited)

Arbor House

Broadway North

Walsall

WS1 2AN

FIXED ASSETS

Tangible assets

2

65,226

47,654

CURRENT ASSETS

Stocks

323,989

137,154

Debtors

535,696

636,449

Cash in hand

944

824

860,629

774,427

CREDITORS

Amounts falling due within one year

3

216,357

155,226

NET CURRENT ASSETS

644,272

619,201

TOTAL ASSETS LESS CURRENT LIABILITIES

709,498

666,855

PROVISIONS FOR LIABILITIES

11,200

7,250

NET ASSETS

698,298

659,605

CAPITAL AND RESERVES

Called up share capital

4

50,000

50,000

Profit and loss account

648,298

609,605

SHAREHOLDERS' FUNDS

698,298

659,605

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2015 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 29th September 2016 and were signed on its behalf by:

R W Parkes - 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 invoiced sales of goods, excluding value added tax.

Tangible fixed assets

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

Plant and machinery etc

-

25% 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.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

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 transaction. Exchange differences are taken into account in arriving at the operating

result.

Leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

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.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st January 2015

393,981

Additions

32,240

At 31st December 2015

426,221

DEPRECIATION

At 1st January 2015

346,327

Charge for year

14,668

At 31st December 2015

360,995

NET BOOK VALUE

At 31st December 2015

65,226

At 31st December 2014

47,654

3.

CREDITORS

Creditors include an amount of £ 16,158 (2014 - £ 11,252 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

50,000

Ordinary shares

£1

50,000

50,000