Kirkstall Timber Limited - Accounts to registrar - small 17.1

REGISTERED NUMBER: 02752209

Unaudited Financial Statements for the Year Ended 31 December 2016

for

Kirkstall Timber Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R J Paterson

C Hainsworth

SECRETARY:

R J Paterson

REGISTERED OFFICE:

Braithwaite Street

Holbeck Lane

Holbeck

Leeds

LS11 9UL

REGISTERED NUMBER:

02752209

ACCOUNTANTS:

Queripel and Kettlewell Limited

The Barn

Hall Mews

Boston Spa

Wetherby

West Yorkshire

LS23 6DT

FIXED ASSETS

Tangible assets

4

46,473

17,808

CURRENT ASSETS

Stocks

141,062

124,930

Debtors

5

286,705

282,763

Cash at bank and in hand

297,202

230,849

724,969

638,542

CREDITORS

Amounts falling due within one year

6

442,353

407,271

NET CURRENT ASSETS

282,616

231,271

TOTAL ASSETS LESS CURRENT LIABILITIES

329,089

249,079

PROVISIONS FOR LIABILITIES

9,165

-

NET ASSETS

319,924

249,079

CAPITAL AND RESERVES

Called up share capital

1,002

1,002

Retained earnings

318,922

248,077

319,924

249,079

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 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 9 June 2017 and were signed on its behalf by:

R J Paterson - Director

1.	STATUTORY INFORMATION

Kirkstall Timber Limited is a private company, limited by shares , registered in Not specified/Other. 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.

Turnover

Turnover 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.

Plant and machinery etc

-

25% on reducing balance and 20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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 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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2016

117,499

Additions

51,075

Disposals

(63,589

)

At 31 December 2016

104,985

DEPRECIATION

At 1 January 2016

99,691

Charge for year

15,477

Eliminated on disposal

(56,656

)

At 31 December 2016

58,512

NET BOOK VALUE

At 31 December 2016

46,473

At 31 December 2015

17,808

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade debtors

277,238

265,899

Other debtors

9,467

16,864

286,705

282,763

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade creditors

160,042

158,098

Taxation and social security

50,009

26,957

Other creditors

232,302

222,216

442,353

407,271