Joseph King Interiors Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 04186125 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2014

for

Joseph King Interiors Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

B Woodward

N J Ford

REGISTERED OFFICE:

16 Clifton Park

Bristol

BS8 3BY

REGISTERED NUMBER:

04186125 (England and Wales)

ACCOUNTANTS:

Corrigan Associates Bristol LLP

The Tramshed

25 Lower Park Row

Bristol

BS1 5BN

FIXED ASSETS

Intangible assets

2

-

995

Tangible assets

3

3,234

3,936

3,234

4,931

CURRENT ASSETS

Debtors

19,149

20,721

Cash at bank and in hand

2,291

1

21,440

20,722

CREDITORS

Amounts falling due within one year

4

25,303

35,248

NET CURRENT LIABILITIES

(3,863

)

(14,526

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(629

)

(9,595

)

CREDITORS

Amounts falling due after more than one year

4

3,090

-

NET LIABILITIES

(3,719

)

(9,595

)

CAPITAL AND RESERVES

Called up share capital

5

200

199

Profit and loss account

(3,919

)

(9,794

)

SHAREHOLDERS' FUNDS

(3,719

)

(9,595

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 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 16 October 2014 and were signed on its behalf by:

N J Ford - 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 April 2008).

Going concern

The accounts have been prepared on a going concern basis which assumes that the company has

sufficient funds to continue to trade for the foreseeable future. In the previous financial year the

company had an excess of liabilities over assets whereas they now have an excess of assets over

liabilities. The company is reliant on the support of the bank and the directors are not aware of any

reason why the bank would not continue to provide ongoing support. Given the above, the directors

have prepared the accounts on the basis that the company is a going concern.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax, plus

adjustments required for amounts recoverable on contracts.

Goodwill

Goodwill is being amortised so as to write off the cost of the asset over its estimated useful life.

Tangible fixed assets

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

Equipment

-

15% on reducing balance

Computer equipment

-

Straight line over 3 years

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

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

7,000

AMORTISATION

At 1 April 2013

6,005

Amortisation for year

995

At 31 March 2014

7,000

NET BOOK VALUE

At 31 March 2014

-

At 31 March 2013

995

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

7,950

DEPRECIATION

At 1 April 2013

4,014

Charge for year

702

At 31 March 2014

4,716

NET BOOK VALUE

At 31 March 2014

3,234

At 31 March 2013

3,936

4.

CREDITORS

Creditors include an amount of £ 13,261 (2013 - £ 17,218 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary B

£1

100

100

Allotted and issued:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary A

£1

100

99