K2_CARRIAGES_LTD - Accounts

FLEMING GARAGE LIMITED - Company Information

Print Friendly Version

Company Registration No. 07599435 (England and Wales)

K2 CARRIAGES LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2016

K2 CARRIAGES LTD

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

K2 CARRIAGES LTD

ABBREVIATED BALANCE SHEET

AS AT

30 APRIL 2016

- 1 -

2016

2015

as restated

Notes

Fixed assets

Intangible assets

13,100

31,800

Tangible assets

157,374

72,876

170,474

104,676

Current assets

Stocks

28,300

41,300

Debtors

69,062

60,848

Cash at bank and in hand

23,702

121,064

102,149

Creditors: amounts falling due within one year

(123,122)

(113,550)

Net current liabilities

(2,058)

(11,401)

Total assets less current liabilities

168,416

93,275

Creditors: amounts falling due after more than one year

(164,601)

(91,748)

3,815

1,527

Capital and reserves

Called up share capital

102

Profit and loss account

3,713

1,425

Shareholders' funds

3,815

1,527

K2 CARRIAGES LTD

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

30 APRIL 2016

- 2 -

For the financial year ended 30 April 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 14 December 2016

Mr C A Coombs

Director

Company Registration No. 07599435

K2 CARRIAGES LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

Patents

Patents are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful lives.

1.6

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Leasehold

20% on cost

Plant and machinery

25% reducing balance

Fixtures, fittings & equipment

25% reducing balance

Motor vehicles

25% reducing balance

K2 CARRIAGES LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2016

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 May 2015

93,500

154,225

247,725

Additions

115,212

At 30 April 2016

93,500

269,437

362,937

Depreciation

At 1 May 2015

61,700

81,349

143,049

Charge for the year

18,700

30,714

49,414

At 30 April 2016

80,400

112,063

192,463

Net book value

At 30 April 2016

13,100

157,374

170,474

At 30 April 2015

31,800

72,876

104,676

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary of £1 each

100

1 Ordinary A of £1 each

1 Ordinary B of £1 each

102