Kerr Interiors Angling Ltd - Period Ending 2016-08-31

Registration number: 06805216

Kerr Interiors Angling Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 August 2016
 

Northern Accountants Ltd

Kerr Interiors Angling Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Kerr Interiors Angling Ltd
for the Year Ended 31 August 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Kerr Interiors Angling Ltd for the year ended 31 August 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Kerr Interiors Angling Ltd , as a body, in accordance with the terms of our engagement letter . Our work has been undertaken solely to prepare for your approval the accounts of Kerr Interiors Angling Ltd and state those matters that we have agreed to state to them.

It is your duty to ensure that Kerr Interiors Angling Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Kerr Interiors Angling Ltd. You consider that Kerr Interiors Angling Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Kerr Interiors Angling Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Northern Accountants Ltd

17 November 2016

Page 1

Kerr Interiors Angling Ltd
(Registration number: 06805216)
Abbreviated Balance Sheet at 31 August 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					105			140
Current assets
Stocks					36,851			36,851
Debtors					2,202			-
Cash at bank and in hand					8,131			6,170
					47,184			43,021
Creditors: Amounts falling due within one year					(111,380)			(105,925)
Net current liabilities					(64,196)			(62,904)
Net liabilities					(64,091)			(62,764)
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					(64,191)			(62,864)
Shareholders' deficit					(64,091)			(62,764)

For the year ending 31 August 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 director acknowledges his 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 director on 17 November 2016

.........................................
Mr Vincent Paul Kerr
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Kerr Interiors Angling Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	Reducing balance 25%

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Kerr Interiors Angling Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 September 2015		910			910
At 31 August 2016		910			910
Depreciation
At 1 September 2015		770			770
Charge for the year		35			35
At 31 August 2016		805			805
Net book value
At 31 August 2016		105			105
At 31 August 2015		140			140

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary Share Capital of £1 each		100			100			100			100

Page 4