YK Electricals (London) Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 07662968 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2016

FOR

YK ELECTRICALS (LONDON) LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

M Savas Sivis

REGISTERED OFFICE:

Unit 003

Parma House

Clarendon Road

London

N22 6UL

REGISTERED NUMBER:

07662968 (England and Wales)

ACCOUNTANTS:

Fordhams & Co.

Chartered Accountants

Unit 003

Parma House

Clarendon Road

London

N22 6UL

FIXED ASSETS

Tangible assets

2

13,536

5,250

CURRENT ASSETS

Stocks

32,470

19,260

Debtors

175,044

80,658

Cash at bank and in hand

50,744

23,434

258,258

123,352

CREDITORS

Amounts falling due within one year

101,459

19,287

NET CURRENT ASSETS

156,799

104,065

TOTAL ASSETS LESS CURRENT
LIABILITIES

170,335

109,315

CREDITORS

Amounts falling due after more than one
year

3,608

-

NET ASSETS

166,727

109,315

CAPITAL AND RESERVES

Called up share capital

3

2

Profit and loss account

166,725

109,313

SHAREHOLDERS' FUNDS

166,727

109,315

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 16 March 2017 and were signed by:

M Savas Sivis - 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.

Plant and machinery etc

-

25% on reducing balance and 20% 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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

7,000

Additions

12,367

At 30 June 2016

19,367

DEPRECIATION

At 1 July 2015

1,750

Charge for year

4,081

At 30 June 2016

5,831

NET BOOK VALUE

At 30 June 2016

13,536

At 30 June 2015

5,250

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.16

30.6.15

value:

£

2

Ordinary

£1

2

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2016 and

30 June 2015:

30.6.16

30.6.15

£

M Savas Sivis and Y Keles

Balance outstanding at start of year

-

Amounts advanced

90,038

-

Amounts repaid

-

Balance outstanding at end of year

90,038

-