Company Registration No. 08650815 (England and Wales)
KINGSLEY DRAKE ESTATES LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
KINGSLEY DRAKE ESTATES LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
KINGSLEY DRAKE ESTATES LTD
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
660,390
675,768
Current assets
Debtors
40,961
80,000
Cash at bank and in hand
12,481
1
53,442
80,001
Creditors: amounts falling due within one year
(636,947)
(712,520)
Net current liabilities
(583,505)
(632,519)
Total assets less current liabilities
76,885
43,249
Capital and reserves
Called up share capital
3
1
1
Profit and loss account
76,884
43,248
Shareholder's funds
76,885
43,249
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his 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 20 December 2016
Mr Chris Drake
Director
Company Registration No. 08650815
KINGSLEY DRAKE ESTATES LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 2 -
1
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
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land 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 Freehold
Plant and machinery
25%
Fixtures, fittings & equipment
15%
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015 & at 31 March 2016
694,369
Depreciation
At 1 April 2015
18,601
Charge for the year
15,378
At 31 March 2016
33,979
Net book value
At 31 March 2016
660,390
At 31 March 2015
675,768
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1 Ordinary of £1 each
1
1
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