KCL (Industries) Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 05011341 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 October 2016

for

KCL (INDUSTRIES) LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mrs K C Lynch

C Lynch

SECRETARY:

Mrs K C Lynch

REGISTERED OFFICE:

Willows Lane Garage

Willows Lane

Green Haworth

Accrington

Lancashire

BB5 3SS

REGISTERED NUMBER:

05011341 (England and Wales)

ACCOUNTANTS:

Haworths Limited

Chartered Accountants

The Old Tannery

Eastgate

Accrington

Lancashire

BB5 6PW

FIXED ASSETS

Tangible assets

2

426,787

451,218

Investments

3

2

2

426,789

451,220

CURRENT ASSETS

Debtors

25,299

17,349

Cash at bank

3

-

25,302

17,349

CREDITORS

Amounts falling due within one year

4

257,824

190,756

NET CURRENT LIABILITIES

(232,522

)

(173,407

)

TOTAL ASSETS LESS CURRENT LIABILITIES

194,267

277,813

CREDITORS

Amounts falling due after more than one year

4

-

(28,674

)

PROVISIONS FOR LIABILITIES

(3,252

)

(7,468

)

NET ASSETS

191,015

241,671

CAPITAL AND RESERVES

Called up share capital

5

2

2

Profit and loss account

191,013

241,669

SHAREHOLDERS' FUNDS

191,015

241,671

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 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 Board of Directors on 17 July 2017 and were signed on its behalf by:

Mrs K C Lynch - Director

C Lynch - 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).

Preparation of consolidated financial statements

The financial statements contain information about KCL (Industries) Ltd as an individual company and do not

contain consolidated financial information as the parent of a group. The company has taken the option under

Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Turnover

Turnover represents net invoices sales of good and services, 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

2% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Deferred tax

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the

treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been

discounted.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2015

715,325

Additions

850

Disposals

(50

)

At 31 October 2016

716,125

DEPRECIATION

At 1 November 2015

264,107

Charge for year

25,274

Eliminated on disposal

(43

)

At 31 October 2016

289,338

NET BOOK VALUE

At 31 October 2016

426,787

At 31 October 2015

451,218

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 November 2015

and 31 October 2016

2

NET BOOK VALUE

At 31 October 2016

2

At 31 October 2015

2

The company's investments at the Balance Sheet date in the share capital of companies include the following:

KCL Truck and Trailer Parts Limited

Nature of business: Repair and maintenance of vehicles

%

Class of shares:

holding

Ordinary

100.00

2016

2015

£

£

Aggregate capital and reserves

73,895

52,958

Profit for the year

20,937

33,136

4.

CREDITORS

Creditors include an amount of £ 27,878 (2015 - £ 90,946 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

2

Ordinary

£1

2

2