Accounts filed on 31-05-2016

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			Company registration number:01359801
		S KARIR & SONS LIMITED
			ABBREVIATED FINANCIAL STATEMENTS
			FOR THE YEAR ENDED 31 May 2016

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S KARIR & SONS LIMITED
BALANCE SHEET
AS AT 31 May 2016
			2016				2015
		Notes	£		£		£		£
FIXED ASSETS
Intangible assets		2			3				3
Tangible assets		3			23,748				30,198
					23,751				30,201
CURRENT ASSETS
Stocks			1,501,131				1,521,161
Debtors			881,207				970,152
Cash at bank and in hand			27,300				17,762
			2,409,638				2,509,075
CREDITORS
Amounts falling due within one year			(1,540,119)				(1,657,754)
NET CURRENT ASSETS					869,519				851,321
TOTAL ASSETS LESS
CURRENT LIABILITIES					893,270				881,522
Creditors falling due after one year					(1,969)				(984)
NET ASSETS					891,301				880,538
CAPITAL AND RESERVES
Called-up equity share capital		4			10,000				10,000
Profit and loss account					881,301				870,538
SHAREHOLDERS FUNDS					891,301				880,538
For the year ending 31 May 2016 the company was entitled to exemption unde section 477 of the Companies Act 2006 relating to small companies. secured
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
..........................................................................
Mr P J Karir
27 February 2017
The annexed notes form part of these financial statements.

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S KARIR & SONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2016

1.

Accounting policies

Basis of preparing the financial statements

The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Statement of cashflow

The Company has taken advantage of the exemption in Financial Reporting Standard No.1 from the requirement to produce a cashflow statement on the grounds that it is a small company.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Intangible assets

Goodwill is the difference between the amount paid on the acquisition of a business and the aggregate fair value of its separable net assets. It is being written off in equal annual instalments over its estimated economic life.

Fixed assets

Tangible fixed assets are stated at cost less depreciation Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Plant and machinery 15% reducing balance basis Motor vehicles 25% reducing balance basis Fixtures and fittings 15% reducing balance basis

Stocks and work In progress

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

Leasing

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets and depreciated over the shorter of the lease term and their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

2.	Intangible fixed assets
				Total
	Cost
	At start of period			8,834
	At end of period			8,834
	Amortisation
	At start of period			8,831
	At end of period			8,831
	Net Book Values
	At start of period			3
	At end of period			3

3.	Tangible fixed assets
				Total
	Cost
	At start of period			171,948
	At end of period			171,948
	Depreciation
	At start of period			141,750
	Provided during the period			6,450
	At end of period			148,200
	Net Book Value
	At start of period			30,198
	At end of period			23,748

4.	Share capital				Allotted, issued and fully paid
					2016	2015
					£	£
	Ordinary shares of £1 each				10,000	10,000
	Total issued share capital				10,000	10,000