KAJS Limited - Abbreviated accounts 16.3

KAJS LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

6

DIRECTORS:

Mr K Smith

Mrs J Smith

SECRETARY:

Mrs J Smith

REGISTERED OFFICE:

Riverside House

14 Prospect Place

Welwyn

Hertfordshire

AL6 9EN

REGISTERED NUMBER:

05701986 (England and Wales)

ACCOUNTANTS:

RS Partnership Ltd.

Riverside House

14 Prospect Place

Welwyn

Hertfordshire

AL6 9EN

BANKERS:

NatWest

St Albans Business Centre

P O Box 329

2 St Peters Street

St Albans

Hertfordshire

AL1 3NQ

FIXED ASSETS

Intangible assets

2

-

3,600

Tangible assets

3

330,968

256,265

330,968

259,865

CURRENT ASSETS

Stocks

60,450

66,750

Debtors

251,052

298,442

Cash at bank and in hand

76,952

73,199

388,454

438,391

CREDITORS

Amounts falling due within one year

4

265,368

376,708

NET CURRENT ASSETS

123,086

61,683

TOTAL ASSETS LESS CURRENT LIABILITIES

454,054

321,548

CREDITORS

Amounts falling due after more than one year

4

(144,173

)

(88,540

)

PROVISIONS FOR LIABILITIES

(41,175

)

(27,026

)

NET ASSETS

268,706

205,982

CAPITAL AND RESERVES

Called up share capital

5

200

100

Profit and loss account

268,506

205,882

SHAREHOLDERS' FUNDS

268,706

205,982

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 2 November 2016 and were signed on its behalf by:

Mrs J Smith - 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

Employee benefit trusts

The company has established trusts for the benefit of employees and certain of their dependants. Monies held in

these trusts are held by independent trustees and managed at their discretion.

Where the company retains future economic benefit from, and has de facto control of the assets and liabilities of

the trust, they are accounted for as assets and liabilities of the company until the earlier of the date that an

allocation of trust funds to employees in respect of trust services is declared and the date that assets of the trust

vest in identified individuals.

Where monies held in a trust are determined by the company on the basis of employees' past service to the

business and the company can obtain no future economic benefit from those monies, such monies, whether in the

trust or accrued for by the company are charged to the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

and 31 August 2016

72,000

AMORTISATION

At 1 September 2015

68,400

Amortisation for year

3,600

At 31 August 2016

72,000

NET BOOK VALUE

At 31 August 2016

-

At 31 August 2015

3,600

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

482,852

Additions

153,232

Disposals

(12,674

)

At 31 August 2016

623,410

DEPRECIATION

At 1 September 2015

226,587

Charge for year

76,023

Eliminated on disposal

(10,168

)

At 31 August 2016

292,442

NET BOOK VALUE

At 31 August 2016

330,968

At 31 August 2015

256,265

4.

CREDITORS

Creditors include an amount of £ 221,829 for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

100

Ordinary "A"

£1

100

100

100

Ordinary "F"

£1

100

-

200

100

The following shares were issued during the year for cash at par :

100 Ordinary "F" shares of £1

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2016 and

31 August 2015:

2016

2015

£

£

Mr K Smith and Mrs J Smith

Balance outstanding at start of year

(146,579

)

137,106

Amounts advanced

72,129

66,315

Amounts repaid

-

(350,000

)

Balance outstanding at end of year

(74,450

)

(146,579

)