Kanda Precious Metals Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 03956712 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

FOR

KANDA PRECIOUS METALS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

J K Kanda

SECRETARY:

J K Kanda

REGISTERED OFFICE:

246 Narborough Road

Leicester

LE3 2AP

REGISTERED NUMBER:

03956712 (England and Wales)

ACCOUNTANTS:

Kagdadia & Co

246 Narborough Road

Leicester

Leicestershire

LE3 2AP

FIXED ASSETS

Tangible assets

2

233,856

234,140

Investments

3

10,396

-

244,252

234,140

CURRENT ASSETS

Stocks

217,997

229,309

Debtors

279,575

41,554

Cash at bank and in hand

16,534

1,487

514,106

272,350

CREDITORS

Amounts falling due within one year

59,069

76,001

NET CURRENT ASSETS

455,037

196,349

TOTAL ASSETS LESS CURRENT
LIABILITIES

699,289

430,489

CREDITORS

Amounts falling due after more than one
year

(406,980

)

(245,236

)

PROVISIONS FOR LIABILITIES

(436

)

(482

)

NET ASSETS

291,873

184,771

CAPITAL AND RESERVES

Called up share capital

4

2

Profit and loss account

291,869

184,769

SHAREHOLDERS' FUNDS

291,873

184,771

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 24 October 2016 and were signed by:

J K Kanda - 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.

Equipment

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

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.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

243,877

Additions

315

At 31 March 2016

244,192

DEPRECIATION

At 1 April 2015

9,737

Charge for year

599

At 31 March 2016

10,336

NET BOOK VALUE

At 31 March 2016

233,856

At 31 March 2015

234,140

3.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

2016

2015

£

Other investments

10,396

-

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

2

Ordinary

£1

2

Ordinary 'A'

£1

2

-

4

2

2 Ordinary 'A' shares of £1 each were allotted and fully paid for cash at par during the year.