Company Registration No. 02568983 (England)
Keerok Ltd.
Unaudited accounts
for the year ended 31 December 2016
Keerok Ltd.
Unaudited accounts
Contents
Keerok Ltd.
Company Information
for the year ended 31 December 2016
Directors
P Cairns
A Flanagan
Company Number
02568983 (England)
Registered Office
28 West Avenue
Derby
DE1 3HR
Accountants
CMM Accountancy (Inverness) Limited
The Green House
Beechwood Business Park North
Inverness
IV2 3BL
Keerok Ltd.
Statement of financial position
as at 31 December 2016
Tangible assets
246,097
262,993
Cash at bank and in hand
130,341
94,517
Creditors: amounts falling due within one year
(221,168)
(160,223)
Net current liabilities
(85,662)
(56,895)
Total assets less current liabilities
160,435
206,098
Provisions for liabilities
Deferred tax
(7,403)
(9,451)
Net assets
153,032
196,647
Called up share capital
10,002
10,002
Share premium
149,997
149,997
Profit and loss account
(6,967)
36,648
Shareholders' funds
153,032
196,647
For the year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 27 September 2017.
A Flanagan
Director
Company Registration No. 02568983
Keerok Ltd.
Notes to the Accounts
for the year ended 31 December 2016
Keerok Ltd. is a private company, limited by shares, registered in England, registration number 02568983. The principal place of business is Ballintean, Glenfeshie, Kingussie, PH211NX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 December 2016 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 January 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Investments are included at fair value.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% per annum reducing balance
Plant & machinery
25% per annum straight line
Motor vehicles
25% per annum reducing balance
Fixtures & fittings
12.5% per annum straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Keerok Ltd.
Notes to the Accounts
for the year ended 31 December 2016
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2016
300,499
14,719
30,169
169,200
514,587
Disposals
-
-
(8,304)
(11,474)
(19,778)
At 31 December 2016
300,499
14,719
21,865
157,726
494,809
At 1 January 2016
87,152
7,951
16,762
139,729
251,594
Charge for the year
4,269
1,617
3,352
6,500
15,738
On disposals
-
-
(7,473)
(11,147)
(18,620)
At 31 December 2016
91,421
9,568
12,641
135,082
248,712
At 31 December 2016
209,078
5,151
9,224
22,644
246,097
At 31 December 2015
213,347
6,768
13,407
29,471
262,993
Accrued income and prepayments
751
269
7
Creditors: amounts falling due within one year
2016
2015
Trade creditors
3,261
21,779
Taxes and social security
12,219
2,425
Loans from directors
118,955
76,955
8
Average number of employees
During the year the average number of employees was 0 (2015: 0).
