Kent Pearl Company Ltd - Accounts to registrar

REGISTERED NUMBER: 06170073 (England and Wales)

Financial Statements

for the Year Ended 31 August 2016

for

KENT PEARL COMPANY LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr D M Kilburn

Mr S R Kilburn

SECRETARY:

Mr D M Kilburn

REGISTERED OFFICE:

30 Royal Star Arcade

Maidstone

Kent

ME14 1JL

REGISTERED NUMBER:

06170073 (England and Wales)

ACCOUNTANTS:

Michael Martin Partnership Limited

Chartered Certified Accountants

3 Queen Street

Ashford

Kent

TN23 1RF

FIXED ASSETS

Tangible assets

2

2,712

3,382

CURRENT ASSETS

Stocks

3

139,420

142,180

Debtors

4

14,942

11,994

Cash at bank

7,520

-

161,882

154,174

CREDITORS

Amounts falling due within one year

5

138,776

120,526

NET CURRENT ASSETS

23,106

33,648

TOTAL ASSETS LESS CURRENT
LIABILITIES

25,818

37,030

CREDITORS

Amounts falling due after more than one
year

6

11,635

36,539

NET ASSETS

14,183

491

CAPITAL AND RESERVES

Called up share capital

8

2

Profit and loss account

9

14,181

489

SHAREHOLDERS' FUNDS

14,183

491

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 24 May 2017 and were signed on its behalf
by:

Mr D M Kilburn - 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.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% 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

Fixtures

and

Computer

fittings

equipment

Totals

£

COST

At 1 September 2015

and 31 August 2016

5,138

4,660

9,798

DEPRECIATION

At 1 September 2015

3,389

3,027

6,416

Charge for year

262

408

670

At 31 August 2016

3,651

3,435

7,086

NET BOOK VALUE

At 31 August 2016

1,487

1,225

2,712

At 31 August 2015

1,749

1,633

3,382

3.

STOCKS

31.8.16

31.8.15

£

Stocks

139,420

142,180

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.16

31.8.15

£

Trade debtors

14,942

11,994

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.16

31.8.15

£

Bank loans and overdrafts

10,119

16,510

Trade creditors

32,783

31,808

Taxation and social security

17,965

9,631

Other creditors

77,909

62,577

138,776

120,526

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

31.8.16

31.8.15

£

Bank loans

11,635

36,539

7.

LOANS

An analysis of the maturity of loans is given below:

31.8.16

31.8.15

£

Amounts falling due within one year or on demand:

Bank overdrafts

-

8,088

Bank loans

10,119

8,422

10,119

16,510

Amounts falling due between one and two years:

Bank loans - 1-2 years

11,635

8,942

Amounts falling due between two and five years:

Bank loans - 2-5 years

-

27,597

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.16

31.8.15

value:

£

2

Ordinary

£1

2

9.

RESERVES

Profit

and loss

account

£

At 1 September 2015

489

Profit for the year

23,692

Dividends

(10,000

)

At 31 August 2016

14,181

Kent Pearl Company Ltd - Accounts to registrar - small 17.1.1

Kent Pearl Company Ltd - Accounts to registrar - small 17.1.1