Kate Howe Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 08185186 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2017

for

Kate Howe Limited

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs K E Howe

Mr R J Higgins

REGISTERED OFFICE:

4 Cedar Park

Cobham Road

Ferndown Industrial Estate

Wimborne

Dorset

BH21 7SF

BUSINESS ADDRESS:

13 Stour Road

Town Centre

Christchurch

Dorset

BH23 1PL

REGISTERED NUMBER:

08185186 (England and Wales)

ACCOUNTANTS:

Ward Goodman

4 Cedar Park

Cobham Road

Ferndown Industrial Estate

Wimborne

Dorset

BH21 7SF

FIXED ASSETS

Tangible assets

4

22,184

23,789

CURRENT ASSETS

Debtors

1,359

911

Prepayments and accrued income

4,597

336

Cash at bank

79,885

51,368

85,841

52,615

CREDITORS

Amounts falling due within one year

68,442

52,568

NET CURRENT ASSETS

17,399

47

TOTAL ASSETS LESS CURRENT LIABILITIES

39,583

23,836

CREDITORS

Amounts falling due after more than one year

(361

)

(2,523

)

PROVISIONS FOR LIABILITIES

(2,623

)

(2,546

)

ACCRUALS AND DEFERRED INCOME

(2,095

)

(2,000

)

NET ASSETS

34,504

16,767

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

34,404

16,667

SHAREHOLDERS' FUNDS

34,504

16,767

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 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.

All the members have consented to the preparation of an abridged Statement of Financial Position 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 Board of Directors on 20 November 2017 and were signed on its behalf by:

Mrs K E Howe - Director

1.	STATUTORY INFORMATION

Kate Howe 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.

Reconciliation statements showing the effect of transition to FRS 102 have not been included in these financial statements as

there have been no restatements to the figures previously reported upon transition to FRS 102.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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 statement of financial position date.

Deferred tax

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

financial position 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.

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2016 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2016

50,801

Additions

3,250

At 31 March 2017

54,051

DEPRECIATION

At 1 April 2016

27,012

Charge for year

4,855

At 31 March 2017

31,867

NET BOOK VALUE

At 31 March 2017

22,184

At 31 March 2016

23,789

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

Totals

£

COST

At 1 April 2016

and 31 March 2017

13,489

DEPRECIATION

At 1 April 2016

3,096

Charge for year

2,598

At 31 March 2017

5,694

NET BOOK VALUE

At 31 March 2017

7,795

At 31 March 2016

10,393

5.

LOANS

An analysis of the maturity of loans is given below:

2017

2016

£

£

Amounts falling due within one year or on demand:

Bank loans

-

1,868

6.	OTHER FINANCIAL COMMITMENTS

At 31 March 2017, the company had total commitments under non-cancellable operating leases of £19,526 (2016 - £58,578)

in respect of rent. The lease expires on 31 December 2017.

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2017 and 31 March 2016:

2017

2016

£

£

Mr R J Higgins

Balance outstanding at start of year

(214

)

1,234

Amounts advanced

924

18,500

Amounts repaid

-

(19,948

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

710

(214

)

Mrs K E Howe

Balance outstanding at start of year

(495

)

4,553

Amounts advanced

1,143

40,641

Amounts repaid

-

(45,689

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

648

(495

)

The loans to the directors are interest free and repaid in full within nine months of the financial year end.