K K Developers Limited - Filleted accounts

K K Developers Limited - Filleted accounts

K K DEVELOPERS LIMITED - Company Information

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Registered number
07410657
K K Developers Limited
Filleted Accounts for the year ended
31 October 2016
K K Developers Limited
Registered number: 07410657
Balance Sheet
as at 31 October 2016
Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 3,238 754
Current assets
Stocks 40,000 -
Debtors 3 154,144 42,657
Cash at bank and in hand 22,549 77,859
216,693 120,516
Creditors: amounts falling due within one year 4 (149,138) (78,944)
Net current assets 67,555 41,572
Net assets 70,793 42,326
Capital and reserves
Called up share capital 1 1
Profit and loss account 70,792 42,325
Shareholder's funds 70,793 42,326
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Y Michael
Director
Approved by the board on 31 July 2017
K K Developers Limited
Notes to the Accounts
for the year ended 31 October 2016
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services which is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 20% Reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.
2 Tangible fixed assets
Motor vehicles
£
Cost
At 1 November 2015 2,300
Additions 3,100
At 31 October 2016 5,400
Depreciation
At 1 November 2015 1,546
Charge for the year 616
At 31 October 2016 2,162
Net book value
At 31 October 2016 3,238
At 31 October 2015 754
3 Debtors 2016 2015
£ £
Trade debtors 142,511 -
Amounts owed by group undertakings and undertakings in which the company has a participating interest 855 -
Other debtors 10,778 42,657
154,144 42,657
4 Creditors: amounts falling due within one year 2016 2015
£ £
Trade creditors 14,348 -
Corporation tax 12,299 22,357
Other taxes and social security costs 558 600
Directors loan 120,683 39,986
Other creditors 1,250 16,001
149,138 78,944
5 Related party transactions
During the year, the director and 100% shareholder Youlla Michael received dividends totalling £29,000 (2015: £40,000).

As at 30 October 2016 the director loaned £120,683 (2015 - £39,986) to the company. This is shown in creditors (note 6).
6 Controlling party
The controlling party is Youlla Michael who holds 100% of the issued share capital in the company.
7 Other information
K K Developers Limited is a private company limited by shares and incorporated in England. Its registered office is:
75 Caversham Avenue
London
N13 4LL
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