Kitbrix Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 08625954 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

KITBRIX LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

R Aldous

REGISTERED OFFICE:

No.6 Wellington House

16 Ardmore Road

Poole

BH14 8SA

REGISTERED NUMBER:

08625954 (England and Wales)

ACCOUNTANTS:

Fawcetts

Chartered Accountants

Windover House

St. Ann Street

Salisbury

SP1 2DR

FIXED ASSETS

Intangible assets

2

13,194

11,553

Tangible assets

3

2,556

4,108

15,750

15,661

CURRENT ASSETS

Stocks

17,723

15,905

Debtors

42,274

28,432

Cash at bank

993

7,997

60,990

52,334

CREDITORS

Amounts falling due within one year

68,532

36,268

NET CURRENT (LIABILITIES)/ASSETS

(7,542

)

16,066

TOTAL ASSETS LESS CURRENT LIABILITIES

8,208

31,727

CREDITORS

Amounts falling due after more than one year

86,540

54,879

NET LIABILITIES

(78,332

)

(23,152

)

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

(78,432

)

(23,252

)

SHAREHOLDERS' FUNDS

(78,332

)

(23,152

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 28 September 2016 and were signed by:

R Aldous - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis which is thought to be appropriate

because the director is satisfied the long-term loans will not be withdrawn until sufficient funds are available.

The financial statements do not contain any adjustments that might be necessary if the funds were withdrawn.

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.

Intellectual property

Payments for design applications are amortised over 3 years.

Tangible fixed assets

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

Website & Computer Equipment

-

33% on cost

Expenditure on fixed assets is capitalised except for expenditure incurred on the replacement of assets of low

value with a short life. Repair, renovation and replacement expenditure is written off as expenditure in the

profit and loss account. The cost of fixed assets is their purchase cost, together with any incidental costs of

acquisition.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Deferred tax

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

balance sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

17,330

Additions

11,126

At 31 December 2015

28,456

AMORTISATION

At 1 January 2015

5,777

Amortisation for year

9,485

At 31 December 2015

15,262

NET BOOK VALUE

At 31 December 2015

13,194

At 31 December 2014

11,553

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

6,163

Additions

624

At 31 December 2015

6,787

DEPRECIATION

At 1 January 2015

2,055

Charge for year

2,176

At 31 December 2015

4,231

NET BOOK VALUE

At 31 December 2015

2,556

At 31 December 2014

4,108

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

100

Ordinary

1

100

100