K Lue Carpentry Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 05102984 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2017

for

K Lue Carpentry Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

K Lue

Mrs J Lue

SECRETARY:

Mrs J Lue

REGISTERED OFFICE:

1 Parsons Close

Horn Street

Winslow

Buckinghamshire

MK18 3AL

REGISTERED NUMBER:

05102984 (England and Wales)

ACCOUNTANTS:

Allans The Accountants Ltd

21 Victoria Road

Surbiton

Surrey

KT6 4JZ

FIXED ASSETS

Property, plant and equipment

4

4,629

6,172

CURRENT ASSETS

Debtors

5

37,488

49,489

CREDITORS

Amounts falling due within one year

6

(39,910

)

(54,613

)

NET CURRENT LIABILITIES

(2,422

)

(5,124

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,207

1,048

CREDITORS

Amounts falling due after more than one year

7

-

(844

)

NET ASSETS

2,207

204

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

9

2,107

104

SHAREHOLDERS' FUNDS

2,207

204

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 12 July 2017 and were signed on its behalf by:

Mrs J Lue - Director

1.	STATUTORY INFORMATION

K Lue Carpentry Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Company has transitioned to section 1A "Small Entities" of Financial Reporting Standard 102 from 01 May

2016. Transition had no material impact.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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.

Plant and Machinery etc - 25% on reducing balance.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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 profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2016 - 2 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 May 2016

and 30 April 2017

28,198

DEPRECIATION

At 1 May 2016

22,026

Charge for year

1,543

At 30 April 2017

23,569

NET BOOK VALUE

At 30 April 2017

4,629

At 30 April 2016

6,172

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 May 2016

and 30 April 2017

9,622

DEPRECIATION

At 1 May 2016

5,563

Charge for year

1,015

At 30 April 2017

6,578

NET BOOK VALUE

At 30 April 2017

3,044

At 30 April 2016

4,059

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Trade debtors

2,203

4,203

Other debtors

35,285

45,286

37,488

49,489

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Bank loans and overdrafts

20,502

18,594

Hire purchase contracts

844

2,384

Taxation and social security

12,264

24,185

Other creditors

6,300

9,450

39,910

54,613

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.17

30.4.16

£

£

Hire purchase contracts

-

844

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.17

30.4.16

£

£

Bank overdrafts

20,502

18,594

The bank overdraft is secured by a debenture on the assets of the company.

9.

RESERVES

Retained

earnings

£

At 1 May 2016

104

Profit for the year

22,003

Dividends

(20,000

)

At 30 April 2017

2,107

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2017 and

30 April 2016:

30.4.17

30.4.16

£

£

K Lue and Mrs J Lue

Balance outstanding at start of year

34,495

9,002

Amounts advanced

-

25,493

Amounts repaid

(18,286

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

16,209

34,495

The overdrawn balance is shown under "other debtors" in Note 6 to these accounts

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £20,000 (2016 - £12,000) were paid to the directors .

12.	ULTIMATE CONTROLLING PARTY

The controlling party is K Lue.