K Dunmore Refrigeration Limited - Period Ending 2016-09-30

 
 
 
 
 
 
 
  K Dunmore Refrigeration Limited
 
  Unaudited Abbreviated Accounts
  Year Ended 30 September 2016
 
  Company Registration Number: 05914880

K Dunmore Refrigeration Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

K Dunmore Refrigeration Limited
Abbreviated Balance Sheet
30 September 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets		2			-			8,500
Tangible fixed assets		2			171,054			159,356
					171,054			167,856
Current assets
Stocks					47,303			42,046
Debtors					98,923			157,366
Cash at bank and in hand					27,706			32,700
					173,932			232,112
Creditors: Amounts falling due within one year					(188,012)			(211,001)
Net current (liabilities)/assets					(14,080)			21,111
Total assets less current liabilities					156,974			188,967
Creditors: Amounts falling due after more than one year					(148,576)			(154,744)
Provisions for liabilities					(6,647)			(4,309)
Net assets					1,751			29,914
Capital and reserves
Called up share capital		4			2			2
Profit and loss account					1,749			29,912
Shareholders' funds					1,751			29,914

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

K Dunmore Refrigeration Limited
Abbreviated Balance Sheet
30 September 2016 ......... continued

For the year ending 30 September 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 directors acknowledge their 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 Board on 20 April 2017 and signed on its behalf by:

Mr K A Dunmore
Director

Company Registration Number: 05914880

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

K Dunmore Refrigeration Limited
Notes to the Abbreviated Accounts
Year Ended 30 September 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 due to the continued support of the directors.

Turnover

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

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less an estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	10% straight line

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
Freehold property	Nil
Plant and machinery	15 - 25% reducing balance
Motor vehicles	25% reducing balance

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.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Page 3

K Dunmore Refrigeration Limited
Notes to the Abbreviated Accounts
Year Ended 30 September 2016 ......... continued

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 October 2015		85,000			201,341			286,341
Additions		-			21,590			21,590
Disposals		-			(8,500)			(8,500)
At 30 September 2016		85,000			214,431			299,431
Depreciation
At 1 October 2015		76,500			41,985			118,485
Charge for the year		8,500			7,198			15,698
Eliminated on disposals		-			(5,806)			(5,806)
At 30 September 2016		85,000			43,377			128,377
Net book value
At 30 September 2016		-			171,054			171,054
At 30 September 2015		8,500			159,356			167,856

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2016 £			2015 £
Amounts falling due within one year		5,792			7,820
Amounts falling due after more than one year		48,940			54,745
Total secured creditors		54,732			62,565

Included in the creditors are the following amounts due after more than five years:

Page 4

K Dunmore Refrigeration Limited
Notes to the Abbreviated Accounts
Year Ended 30 September 2016 ......... continued

		2016 £			2015 £
After more than five years by instalments		35,699			39,022

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		2			2			2			2

Page 5