Abbreviated Company Accounts - KINGSNORTH CARPENTRY LIMITED

Abbreviated Company Accounts - KINGSNORTH CARPENTRY LIMITED


Registered Number 05789374

KINGSNORTH CARPENTRY LIMITED

Abbreviated Accounts

31 March 2016

KINGSNORTH CARPENTRY LIMITED Registered Number 05789374

Abbreviated Balance Sheet as at 31 March 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 1,131 1,937
1,131 1,937
Current assets
Stocks 2,503 2,905
Debtors 10,413 7,413
12,916 10,318
Creditors: amounts falling due within one year (13,609) (11,997)
Net current assets (liabilities) (693) (1,679)
Total assets less current liabilities 438 258
Provisions for liabilities (30) 0
Total net assets (liabilities) 408 258
Capital and reserves
Called up share capital 3 2 2
Profit and loss account 406 256
Shareholders' funds 408 258
  • For the year ending 31 March 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 24 December 2016

And signed on their behalf by:
K A Kingsnorth, Director

KINGSNORTH CARPENTRY LIMITED Registered Number 05789374

Notes to the Abbreviated Accounts for the period ended 31 March 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents net invoiced sales of goods and services.

Tangible assets depreciation policy
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Other accounting policies
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

2Tangible fixed assets
£
Cost
At 1 April 2015 8,462
Additions -
Disposals (298)
Revaluations -
Transfers -
At 31 March 2016 8,164
Depreciation
At 1 April 2015 6,525
Charge for the year 508
On disposals -
At 31 March 2016 7,033
Net book values
At 31 March 2016 1,131
At 31 March 2015 1,937
3Called Up Share Capital
Allotted, called up and fully paid:
2016
£
2015
£
2 Ordinary shares of £1 each 2 2