Kenkleen Limited - Accounts to registrar

KENKLEEN LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

A J K Oliver

M J W Oliver

SECRETARY:

A J K Oliver

REGISTERED OFFICE:

Priorwood Office 1

Melrose

Roxburghshire

TD6 9EG

REGISTERED NUMBER:

SC144064 (Scotland)

ACCOUNTANTS:

JRW

Chartered Accountants

19 Buccleuch Street

Hawick

Roxburghshire

TD9 0HL

FIXED ASSETS

Tangible assets

4

5,884

4,501

CURRENT ASSETS

Stocks

5

850

Debtors

6

82,606

91,432

Cash at bank and in hand

96,428

90,210

179,884

182,492

CREDITORS

Amounts falling due within one year

7

66,700

69,628

NET CURRENT ASSETS

113,184

112,864

TOTAL ASSETS LESS CURRENT
LIABILITIES

119,068

117,365

PROVISIONS FOR LIABILITIES

1,171

-

NET ASSETS

117,897

117,365

CAPITAL AND RESERVES

Called up share capital

33,000

Retained earnings

84,897

84,365

SHAREHOLDERS' FUNDS

117,897

117,365

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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 26th July 2017 and were signed on its
behalf by:

A J K Oliver - Director

M J W Oliver - Director

1.	STATUTORY INFORMATION

Kenkleen Limited is a private company, limited by shares , registered in Scotland. 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 represents the value, net of value added tax and discounts, of work carried out in respect of

services provided to customers. Revenue is recognised in the accounting period in which the services

are rendered when the outcome of the contract can be measured reliably.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Equipment

-

15% 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.

Financial assets

Basic financial assets, including trade and other debtors and bank balances, are initially recognised at

transaction price.

At the end of each reporting period financial assets measured at cost are assessed for evidence of

impairment. Any impairment loss is recognised in the Income and Expenditure Account.

Financial assets are derecognised when the contractual rights to the cash flows from the asset expire

or are settled.

Financial liabilities

Basic financial liabilities, including trade and other creditors, are initially recognised at transaction

price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary

course of business from suppliers. These are classed as current liabilities is payment is due within one

year or less. If not they are presented as non-current liabilities.

Financial liabilities are decolonised when the liability is extinguished, that is when the contractual

obligation is discharged, cancelled or expires.

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.

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 27 .

4.	TANGIBLE FIXED ASSETS

Equipment

£

COST

At 1st April 2016

19,770

Additions

3,292

Disposals

(3,513

)

At 31st March 2017

19,549

DEPRECIATION

At 1st April 2016

15,269

Charge for year

1,039

Eliminated on disposal

(2,643

)

At 31st March 2017

13,665

NET BOOK VALUE

At 31st March 2017

5,884

At 31st March 2016

4,501

5.

STOCKS

2017

2016

£

Stocks

850

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

Trade debtors

68,409

91,432

Other debtors

12,996

-

Prepayments

1,201

-

82,606

91,432

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

Trade creditors

890

934

Corporation tax

12,373

14,467

Social security and other taxes

-

1,115

VAT

19,616

19,815

Accrued expenses

33,821

33,297

66,700

69,628

The following reproduces the text of the report prepared for the directors and members in respect of

the company's annual unaudited financial statements. In accordance with the Companies Act 2006,

the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement

and certain other primary statements and the Report of the Directors are not required to be filed with

the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Kenkleen Limited for the year ended 31st March 2017 which comprise

the Income Statement, Balance Sheet and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance.

This report is made solely to the Board of Directors of Kenkleen Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Kenkleen Limited and state those matters that we have agreed to state to the Board of Directors of Kenkleen Limited, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Kenkleen Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Kenkleen Limited. You consider that Kenkleen Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Kenkleen Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

JRW

Chartered Accountants

19 Buccleuch Street

Hawick

Roxburghshire

TD9 0HL

26th July 2017

Kenkleen Limited - Accounts to registrar - small 17.2

Kenkleen Limited - Accounts to registrar - small 17.2