M & D Kidner Limited - Period Ending 2016-09-30

Registration number: 04060115

M & D Kidner Limited

Unaudited abbreviated accounts

for the year ended 30 September 2016
 

M & D Kidner Limited
Contents

Abbreviated balance sheet 1 to 2

Notes to the abbreviated accounts 3 to 5

M & D Kidner Limited
(Registration number: 04060115)
Abbreviated balance sheet at 30 September 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets		2			102,677			101,085
Current assets
Stock					18,313			17,156
Debtors					1,359,258			1,188,314
Cash at bank and in hand					2,376			-
					1,379,947			1,205,470
Creditors: amounts falling due within one year		3			(1,388,782)			(1,160,923)
Net current (liabilities)/assets					(8,835)			44,547
Total assets less current liabilities					93,842			145,632
Creditors: amounts falling due after more than one year		3			(28,742)			(14,805)
Provisions for liabilities					(12,865)			(11,516)
Net assets					52,235			119,311
Capital and reserves
Called up share capital		4			149			149
Profit and loss account					52,086			119,162
Shareholders' funds					52,235			119,311

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

M & D Kidner Limited
(Registration number: 04060115)
Abbreviated balance sheet at 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 abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Approved by the board on 21 June 2017 and signed on its behalf by:

 M R Kidner
 Director

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

M & D Kidner Limited
Notes to the abbreviated accounts for the 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).

Turnover

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

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 rate and method
Property improvements	15% reducing balance
Plant and machinery	15% reducing balance
Fixtures and fittings	25% reducing balance
Motor vehicles	25% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value.

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.

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.

Assets held for use in operating leases are included in fixed assets at cost and depreciated over their useful life. Rental income from operating leases is recognised on a straight line basis over the term of the lease.

Page 3

M & D Kidner Limited
Notes to the abbreviated accounts for the year ended 30 September 2016
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 October 2015		461,496			461,496
Additions		43,561			43,561
Disposals		(104,809)			(104,809)
At 30 September 2016		400,248			400,248
Depreciation
At 1 October 2015		360,411			360,411
Charge for the year		28,443			28,443
Eliminated on disposals		(91,283)			(91,283)
At 30 September 2016		297,571			297,571
Net book value
At 30 September 2016		102,677			102,677
At 30 September 2015		101,085			101,085

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M & D Kidner Limited
Notes to the abbreviated accounts for the year ended 30 September 2016
......... continued

3

Creditors

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

		2016 £			2015 £
Amounts falling due within one year		205,930			173,333
Amounts falling due after more than one year		28,742			14,805
Total secured creditors		234,672			188,138

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £ 1 each		99			99			99			99
Ordinary A shares of £ 1 each		25			25			25			25
Ordinary B shares of £ 1 each		25			25			25			25
		149			149			149			149

5	Related party transactions

Directors' advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
M R Kidner
Director's loan account - Interest is charged at the HMRC approved rate	73,073	73,073	75,200	81,847
D R Kidner
Director's loan account - Interest is charged at the HMRC approved rate	30,297	35,875	30,472	32,875

Page 5