K2 Ceramic Studio Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 09566540 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD 29TH APRIL 2015 TO 30TH APRIL 2016

FOR

K2 CERAMIC STUDIO LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

P Harling

REGISTERED OFFICE:

Glyn Wylfa House

Castle Road

Chirk

Wrexham

LL14 5BS

REGISTERED NUMBER:

09566540 (England and Wales)

ACCOUNTANTS:

M. D. Coxey and Co. Limited

Chartered Accountants

25 Grosvenor Road

Wrexham

LL11 1BT

BANKERS:

Lloyds Bank plc

Cobden House

12 Mosley Street

Manchester

M2 3AY

FIXED ASSETS

Tangible assets

2

65,500

CURRENT ASSETS

Stocks

5,932

Debtors

33,551

39,483

CREDITORS

Amounts falling due within one year

99,049

NET CURRENT LIABILITIES

(59,566

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,934

PROVISIONS FOR LIABILITIES

248

NET ASSETS

5,686

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

5,586

SHAREHOLDERS' FUNDS

5,686

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30th April 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 30th April 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 12th January 2017 and were signed by:

P Harling - 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 January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

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

Plant and machinery

-

15% on cost

Stocks

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

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.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

76,961

At 30th April 2016

76,961

DEPRECIATION

Charge for period

11,461

At 30th April 2016

11,461

NET BOOK VALUE

At 30th April 2016

65,500

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

£1

100

100 Ordinary shares of £1 were issued during the period for cash of £ 100 .

4.	COMPARATIVES

There are no comparative figures as this is the first year of trade.