H & K Corporation (Essex) Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 08493974 (England and Wales)

Financial Statements for the Year Ended 31 March 2017

for

H & K Corporation (Essex) Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr H Singh

REGISTERED OFFICE:

73 Primrose Close

Luton

Bedfordshire

LU3 1EY

REGISTERED NUMBER:

08493974 (England and Wales)

ACCOUNTANTS:

Nielsens

Chartered Accountants

The Gatehouse

453 Cranbrook Road

Ilford

Essex

IG2 6EW

BANKERS:

National Westminster Bank

Chelmsford Branch

National Westminster House

8 High Street

Chelmsford

Essex

CM1 1BL

FIXED ASSETS

Intangible assets

4

3,060

3,600

Tangible assets

5

199,300

232,681

202,360

236,281

CURRENT ASSETS

Stocks

2,593

1,741

Debtors

40,343

13,676

Cash at bank and in hand

47,821

10,784

90,757

26,201

CREDITORS

Amounts falling due within one year

286,356

251,409

NET CURRENT LIABILITIES

(195,599

)

(225,208

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,761

11,073

CREDITORS

Amounts falling due after more than one year

77,037

91,482

NET LIABILITIES

(70,276

)

(80,409

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(70,376

)

(80,509

)

SHAREHOLDERS' FUNDS

(70,276

)

(80,409

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director on 21 September 2017 and were signed by:

Mr H Singh - Director

1.	STATUTORY INFORMATION

H & K Corporation (Essex) Ltd 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.

Turnover

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

value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Licences are being amortised evenly over their estimated useful life of nil years.

Intangible fixed assets

Licences will be amortised over 20 years on a straight line basis.

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

-

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2016

and 31 March 2017

5,392

AMORTISATION

At 1 April 2016

1,792

Amortisation for year

540

At 31 March 2017

2,332

NET BOOK VALUE

At 31 March 2017

3,060

At 31 March 2016

3,600

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2016

359,319

Additions

1,789

At 31 March 2017

361,108

DEPRECIATION

At 1 April 2016

126,638

Charge for year

35,170

At 31 March 2017

161,808

NET BOOK VALUE

At 31 March 2017

199,300

At 31 March 2016

232,681

6.	RELATED PARTY DISCLOSURES

During the year, the company entered into transactions at arms length with Canvey Subs Ltd, in which Mr H

Singh is the director and 100% shareholder. All related party transactions are reflected in the above debtors and

creditors notes.

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr H Singh.

8.	FIRST YEAR ADOPTION

This is the first year that the company has presented its results under FRS 102. The last financial statements

under previous UK GAAP were for the year ended 31 March 2016 and the date of transition to FRS 102 was 1

April 2015.

There were no changes in accounting policies under FRS 102 which were applicable to the company.