King,_Kollakis_and_Compan - Accounts

KING,KOLLAKIS & COMPANY LIMITED - Company Information

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King, Kollakis and Company Limited

Unaudited Abbreviated Accounts

For the year ended 31 March 2016

Company Registration No. 00975622 (England and Wales)

King, Kollakis and Company Limited

Abbreviated Balance Sheet

As at 31 March 2016

Page 1

2016

2015

Notes

Fixed assets

Tangible assets

46,528

49,729

Current assets

Debtors

420,545

437,818

Investments

217

Cash at bank and in hand

20,452

212,912

441,214

650,947

Creditors: amounts falling due within one year

(235,522)

(274,636)

Net current assets

205,692

376,311

Total assets less current liabilities

252,220

426,040

Creditors: amounts falling due after more than one year

(175,000)

Provisions for liabilities

(7,974)

(8,322)

244,246

242,718

Capital and reserves

Called up share capital

172,000

Profit and loss account

72,246

70,718

Shareholders' funds

244,246

242,718

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.

The members have not required the company to obtain an audit.

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 22 December 2016

T. A. Smith

Director

Company Registration No. 00975622

King, Kollakis and Company Limited

Notes to the Abbreviated Accounts

For the year ended 31 March 2016

Page 2

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 the value of services provided during the year net of value added tax.

1.4

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:

Tenant's improvements

Over the period of the lease

Fixtures, fittings & equipment

15% reducing balance

1.5

Investments

Current asset investments are stated at the lower of cost and net realisable value.

1.6

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.7

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

King, Kollakis and Company Limited

Notes to the Abbreviated Accounts (Continued)

For the year ended 31 March 2016

Page 3

Fixed assets

Tangible assets

Cost

At 1 April 2015

235,413

Additions

4,664

At 31 March 2016

240,077

Depreciation

At 1 April 2015

185,684

Charge for the year

7,865

At 31 March 2016

193,549

Net book value

At 31 March 2016

46,528

At 31 March 2015

49,729

Share capital

2016

2015

Allotted, called up and fully paid

172,000 Ordinary shares of £1 each

172,000

Control

The company is controlled by the Kollakis family by virtue of their shareholding.

Related party relationships and transactions

Included in other debtors is an amount of £27,928 (2015: £11,367) due from Mr. P.E. Kollakis and £6,213 (2015: £2,335) from Mr. G. Kollakis, shareholders of the company. The highest amounts outstanding during the year from Mr. P.E. Kollakis and Mr. G. Kollakis were £40,252 and £6,213 respectively. These debts were repaid to the company post year end on 21 November 2016.

Included in other debtors is an amount of £20,000 (2015: £20,000) due from Dionysus Developments Limited, a company under common control.