The David Knight Collection Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 05667450

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2016

FOR

THE DAVID KNIGHT COLLECTION LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr D Knight

Mrs L Knight

SECRETARY:

Mrs L Knight

REGISTERED OFFICE:

Greenbank

Coach Drive

Quarndon

Derbyshire

DE22 5JX

REGISTERED NUMBER:

05667450

ACCOUNTANTS:

RDG Accounting Ltd

Millhouse Business Centre

Station Road

Castle Donington

Derbyshire

DE74 2NJ

FIXED ASSETS

Intangible assets

2

1,370

1,508

Tangible assets

3

39,228

18,390

40,598

19,898

CURRENT ASSETS

Stocks

6,170

Debtors

59,578

70,101

Cash at bank and in hand

34,602

11,329

100,350

87,600

CREDITORS

Amounts falling due within one year

122,008

107,443

NET CURRENT LIABILITIES

(21,658

)

(19,843

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

18,940

55

CREDITORS

Amounts falling due after more than one
year

18,870

-

NET ASSETS

70

55

CAPITAL AND RESERVES

Called up share capital

4

2

Profit and loss account

68

53

SHAREHOLDERS' FUNDS

70

55

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 12 October 2016 and were signed on its behalf
by:

Mr D Knight - Director

Mrs L Knight - 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.

GOODWILL

Goodwill arising in connection with the acquisition of businesses is capitalised and amortised over it's

estimated economic life to a maximum of 20 years. Goodwill is reviewed annually for impairment if events or

changes in circumstances indicate that the carrying value may not be recoverable.

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 February 2015

and 31 January 2016

2,750

AMORTISATION

At 1 February 2015

1,242

Amortisation for year

138

At 31 January 2016

1,380

NET BOOK VALUE

At 31 January 2016

1,370

At 31 January 2015

1,508

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 February 2015

46,257

Additions

48,421

Disposals

(35,440

)

At 31 January 2016

59,238

DEPRECIATION

At 1 February 2015

27,867

Charge for year

12,632

Eliminated on disposal

(20,489

)

At 31 January 2016

20,010

NET BOOK VALUE

At 31 January 2016

39,228

At 31 January 2015

18,390

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

2

Ordinary

£1

2