Steve Rees (Kitchens) Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 03985427 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 APRIL 2016

FOR

STEVE REES (KITCHENS) LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mr S J Rees

SECRETARY:

Mr S J Rees

REGISTERED OFFICE:

7-8 Raleigh Walk

Waterfront 2000

Brigantine Place

Cardiff

South Glamorgan

CF10 4LN

REGISTERED NUMBER:

03985427 (England and Wales)

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

13,338

573

13,338

573

CURRENT ASSETS

Stocks

50,395

38,571

Debtors

218

7,329

Cash at bank

971

-

51,584

45,900

CREDITORS

Amounts falling due within one year

57,170

46,103

NET CURRENT LIABILITIES

(5,586

)

(203

)

TOTAL ASSETS LESS CURRENT LIABILITIES

7,752

370

CREDITORS

Amounts falling due after more than one
year

(13,110

)

-

PROVISIONS FOR LIABILITIES

-

(66

)

NET (LIABILITIES)/ASSETS

(5,358

)

304

CAPITAL AND RESERVES

Called up share capital

4

1,000

Profit and loss account

(6,358

)

(696

)

SHAREHOLDERS' FUNDS

(5,358

)

304

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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 30 January 2017 and were signed by:

Mr S J Rees - 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 2003, 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.

Office equipment

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% 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

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2015

and 30 April 2016

30,000

AMORTISATION

At 1 May 2015

and 30 April 2016

30,000

NET BOOK VALUE

At 30 April 2016

-

At 30 April 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2015

20,851

Additions

13,800

Disposals

(14,300

)

At 30 April 2016

20,351

DEPRECIATION

At 1 May 2015

20,278

Charge for year

834

Eliminated on disposal

(14,099

)

At 30 April 2016

7,013

NET BOOK VALUE

At 30 April 2016

13,338

At 30 April 2015

573

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.16

30.4.15

value:

£

1,000

Ordinary

£1

1,000