K B Electrical Solutions Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 06825943 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2016

for

K B Electrical Solutions Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

K D Benzie

Mrs A J Benzie

SECRETARY:

Mrs A J Benzie

REGISTERED OFFICE:

32 Hayhill Industrial Estate

Barrow Upon Soar

Loughborough

Leicestershire

LE12 8LD

REGISTERED NUMBER:

06825943 (England and Wales)

ACCOUNTANTS:

torr waterfield

Park House

37 Clarence Street

Leicester

Leicestershire

LE1 3RW

FIXED ASSETS

Intangible assets

2

18,000

24,000

Tangible assets

3

135,992

68,510

153,992

92,510

CURRENT ASSETS

Stocks

1,654

6,482

Debtors

167,039

160,558

Cash at bank

24,441

20,772

193,134

187,812

CREDITORS

Amounts falling due within one year

4

162,040

175,129

NET CURRENT ASSETS

31,094

12,683

TOTAL ASSETS LESS CURRENT
LIABILITIES

185,086

105,193

CREDITORS

Amounts falling due after more than one
year

4

(36,659

)

-

PROVISIONS FOR LIABILITIES

(18,635

)

(13,702

)

NET ASSETS

129,792

91,491

CAPITAL AND RESERVES

Called up share capital

5

2

Profit and loss account

129,790

91,489

SHAREHOLDERS' FUNDS

129,792

91,491

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 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 10 October 2016 and were signed on its behalf by:

K D Benzie - 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 services, excluding value added tax, except in respect of service

contracts where turnover is recognised when the company obtains the right to consideration.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

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.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

60,000

AMORTISATION

At 1 April 2015

36,000

Amortisation for year

6,000

At 31 March 2016

42,000

NET BOOK VALUE

At 31 March 2016

18,000

At 31 March 2015

24,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

114,037

Additions

104,974

Disposals

(19,688

)

At 31 March 2016

199,323

DEPRECIATION

At 1 April 2015

45,527

Charge for year

27,299

Eliminated on disposal

(9,495

)

At 31 March 2016

63,331

NET BOOK VALUE

At 31 March 2016

135,992

At 31 March 2015

68,510

4.

CREDITORS

The following secured debts are included within creditors:

31.3.16

31.3.15

£

Hire purchase contracts

45,260

3,641

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

1

Ordinary A

£1

1

Ordinary B

£1

1

2