KDS & Associates Limited - Period Ending 2016-11-30
KDS & Associates Limited - Period Ending 2016-11-30
Registration number:
for the Year Ended
KDS & Associates Limited
Contents
Abbreviated Balance Sheet |
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Notes to the Abbreviated Accounts |
KDS & Associates Limited
(Registration number: 02817764)
Abbreviated Balance Sheet as at 30 November 2016
Note |
2016 |
2015 |
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£ |
£ |
£ |
£ |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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For the year ending 30 November 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
.........................................
Mr I Crowhurst
Director
KDS & Associates Limited
Notes to the Abbreviated Accounts
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 which assumes that the company will continue in operational existence for the foreseeable future.
The validity of this assumption depends on the continued support from the company's bank and other creditors. The financial statements do not include any adjustments that would result if such financial support were to be withdrawn.
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
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 |
Fixtures, fittings and equipment |
25% Straight line method |
Fixed asset investments
All fixed assets are initially recorded at cost.
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.
KDS & Associates Limited
Notes to the Abbreviated Accounts
1 |
Accounting policies (continued) |
Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. 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.
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.
Fixed assets |
Tangible assets |
Total |
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Cost |
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At 1 December 2015 |
131,704 |
131,704 |
Additions |
20,148 |
20,148 |
At 30 November 2016 |
151,852 |
151,852 |
Depreciation |
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At 1 December 2015 |
116,604 |
116,604 |
Charge for the year |
11,224 |
11,224 |
At 30 November 2016 |
127,828 |
127,828 |
Net book value |
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At 30 November 2016 |
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At 30 November 2015 |
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KDS & Associates Limited
Notes to the Abbreviated Accounts
Creditors |
Creditors includes the following liabilities, on which security has been given by the company:
2016 |
2015 |
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Amounts falling due within one year |
10,230 |
10,230 |
Amounts falling due after more than one year |
14,493 |
24,723 |
Total secured creditors |
24,723 |
34,953 |
Share capital |
Allotted, called up and fully paid shares
2016 |
2015 |
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No. |
£ |
No. |
£ |
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118 |
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100 |
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100 |
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100 |
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Control |
The company is controlled by