Kangs Legal Services Limited - Abbreviated accounts 16.3

Kangs Legal Services Limited - Abbreviated accounts 16.3

KANGS LEGAL SERVICES LIMITED - Company Information

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REGISTERED NUMBER: 08474404 (England and Wales)





















Abbreviated Unaudited Accounts

for the Year Ended 30 September 2016

for

Kangs Legal Services Limited

Kangs Legal Services Limited (Registered number: 08474404)






Contents of the Abbreviated Accounts
for the Year Ended 30 September 2016




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

Kangs Legal Services Limited

Company Information
for the Year Ended 30 September 2016







DIRECTOR: H S Kang





REGISTERED OFFICE: 2A Wake Green Road
Moseley
Birmingham
West Midlands
B13 9EZ





REGISTERED NUMBER: 08474404 (England and Wales)





ACCOUNTANTS: Rice & Co Limited
Chartered Accountants
Harance House
Rumer Hill Road
Cannock
Staffordshire
WS11 0ET
Page 1
Kangs Legal Services Limited (Registered number: 08474404)

Abbreviated Balance Sheet
30 September 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 3,400,000 3,600,000
Tangible assets 3 31,949 26,356
3,431,949 3,626,356

CURRENT ASSETS
Stocks 256,286 203,070
Debtors 188,083 140,240
Cash at bank and in hand 63,765 751,231
508,134 1,094,541
CREDITORS
Amounts falling due within one year 2,576,096 3,581,982
NET CURRENT LIABILITIES (2,067,962 ) (2,487,441 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,363,987
1,138,915

PROVISIONS FOR LIABILITIES 3,233 1,062
NET ASSETS 1,360,754 1,137,853

CAPITAL AND RESERVES
Called up share capital 4 100 100
Profit and loss account 1,360,654 1,137,753
SHAREHOLDERS' FUNDS 1,360,754 1,137,853

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 notes form part of these abbreviated accounts

Page 2 continued...
Kangs Legal Services Limited (Registered number: 08474404)

Abbreviated Balance Sheet - continued
30 September 2016


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 3 April 2017 and were signed by:





H S Kang - Director


The notes form part of these abbreviated accounts

Page 3
Kangs Legal Services Limited (Registered number: 08474404)

Notes to the Abbreviated Accounts
for the Year Ended 30 September 2016

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 services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of twenty years.

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 - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 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
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the
period of the lease.

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 October 2015
and 30 September 2016 4,000,000
AMORTISATION
At 1 October 2015 400,000
Amortisation for year 200,000
At 30 September 2016 600,000
NET BOOK VALUE

At 30 September 2016 3,400,000
At 30 September 2015 3,600,000

Page 4 continued...
Kangs Legal Services Limited (Registered number: 08474404)

Notes to the Abbreviated Accounts - continued
for the Year Ended 30 September 2016

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 October 2015 45,071
Additions 16,242
At 30 September 2016 61,313
DEPRECIATION
At 1 October 2015 18,715
Charge for year 10,649
At 30 September 2016 29,364
NET BOOK VALUE
At 30 September 2016 31,949
At 30 September 2015 26,356

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
100 Ordinary £1 100 100

Page 5