Abbreviated Company Accounts - KINGSWOOD INSURANCE BROKERS LTD.

Abbreviated Company Accounts - KINGSWOOD INSURANCE BROKERS LTD.

KINGSWOOD INSURANCE BROKERS LTD. - Company Information

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Registered Number 05081538

KINGSWOOD INSURANCE BROKERS LTD.

Abbreviated Accounts

31 March 2016

KINGSWOOD INSURANCE BROKERS LTD. Registered Number 05081538

Abbreviated Balance Sheet as at 31 March 2016

Notes 2016 2015
£ £
Fixed assets
Intangible assets 2 13,288 19,888
Tangible assets 3 2,544 2,397
15,832 22,285
Current assets
Debtors 198,963 37,188
Cash at bank and in hand 2,980 8,040
201,943 45,228
Creditors: amounts falling due within one year (190,197) (27,471)
Net current assets (liabilities) 11,746 17,757
Total assets less current liabilities 27,578 40,042
Creditors: amounts falling due after more than one year (20,333) (32,286)
Total net assets (liabilities) 7,245 7,756
Capital and reserves
Called up share capital 100 100
Profit and loss account 7,145 7,656
Shareholders' funds 7,245 7,756
  • 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 1 December 2016

And signed on their behalf by:
D A C Thomas, Director

KINGSWOOD INSURANCE BROKERS LTD. Registered Number 05081538

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
The turnover shown in the accounts represents revenue earned during the period. exclusive of VAT.

Tangible assets depreciation policy
Depreciation has been provided for at the following rates to write off the assets, over the useful economic life of that asset as follows : Office equipment -15% reducing balance.

Intangible assets amortisation policy
Armortisation of Goodwill has been provided for, to write off the cost over a period of 5 years at a straight line rate of 20% per annum.

Valuation information and policy
Stocks and work in progress are valued at the lower of cost and net realiseable 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.

2Intangible fixed assets
£
Cost
At 1 April 2015 33,000
Additions -
Disposals -
Revaluations -
Transfers -
At 31 March 2016 33,000
Amortisation
At 1 April 2015 13,112
Charge for the year 6,600
On disposals -
At 31 March 2016 19,712
Net book values
At 31 March 2016 13,288
At 31 March 2015 19,888
3Tangible fixed assets
£
Cost
At 1 April 2015 3,224
Additions 595
Disposals -
Revaluations -
Transfers -
At 31 March 2016 3,819
Depreciation
At 1 April 2015 827
Charge for the year 448
On disposals -
At 31 March 2016 1,275
Net book values
At 31 March 2016 2,544
At 31 March 2015 2,397