K.S.B. Electronics Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 04040107 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 5TH APRIL 2016

FOR

K.S.B. ELECTRONICS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

G Brown

REGISTERED OFFICE:

Citibase

101 Lockhurst Lane

Coventry

West Midlands

CV6 5SF

REGISTERED NUMBER:

04040107 (England and Wales)

ACCOUNTANTS:

Armstrongs

Chartered Accountants and Business Advisors

1&2 Mercia Village

Torwood Close

Westwood Business Park

Coventry

West Midlands

CV4 8HX

BANKERS:

Barclays Bank PLC

Leicester

Leicestershire

LE87 2BB

FIXED ASSETS

Tangible assets

2

257

367

CURRENT ASSETS

Stocks

450

400

Debtors

41,253

1,570

Cash at bank

675

3,103

42,378

5,073

CREDITORS

Amounts falling due within one year

17,195

5,251

NET CURRENT ASSETS/(LIABILITIES)

25,183

(178

)

TOTAL ASSETS LESS CURRENT LIABILITIES

25,440

189

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

25,340

89

SHAREHOLDERS' FUNDS

25,440

189

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5th April 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 5th 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 27th January 2017 and were signed by:

G Brown - 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.

Fixtures and fittings

-

30% on reducing balance

Computer equipment

-

33% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred taxation has been recognised as a liability or asset if transactions occurred at the balance sheet date that

gives rise to an obligation to pay more taxation in future or a right to pay less in taxation in future. An asset is not

recognised to the extent that transfer of economic benefit in future is uncertain. Deferred tax assets or liabilities

recognised have not been discounted as 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.

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.

Going concern basis

The company is dependent upon the continuing support of the directors, who have financed the losses incurred. The

directors have signified that they will not withdraw their funds for the foreseeable future and therefor the financial

statements have been prepared on a going concern basis.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 6th April 2015

and 5th April 2016

24,246

DEPRECIATION

At 6th April 2015

23,879

Charge for year

110

At 5th April 2016

23,989

NET BOOK VALUE

At 5th April 2016

257

At 5th April 2015

367

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

100

ordinary

£ 1

100

100

4.	ULTIMATE CONTROLLING PARTY