Kelly Park Limited - Accounts to registrar (filleted) - small 17.3

Kelly Park Limited - Accounts to registrar (filleted) - small 17.3


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REGISTERED NUMBER: 04193512 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

KELLY PARK LIMITED

KELLY PARK LIMITED (REGISTERED NUMBER: 04193512)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


KELLY PARK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2017







DIRECTORS: P Sanders
J Sanders





SECRETARY: P Sanders





REGISTERED OFFICE: Unit 32-33 Derwentside Business Centre
Consett Business Park Villa Real
Consett
Co. Durham
DH8 6BP





REGISTERED NUMBER: 04193512 (England and Wales)





ACCOUNTANTS: Ribchesters
Chartered Accountants
Finchale House
Belmont Business Park
Durham
DH1 1TW

KELLY PARK LIMITED (REGISTERED NUMBER: 04193512)

BALANCE SHEET
31 MARCH 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 21,160 16,006

CURRENT ASSETS
Debtors 5 386,822 423,021

CREDITORS
Amounts falling due within one year 6 401,575 429,706
NET CURRENT LIABILITIES (14,753 ) (6,685 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,407

9,321

PROVISIONS FOR LIABILITIES 2,916 1,783
NET ASSETS 3,491 7,538

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 3,391 7,438
SHAREHOLDERS' FUNDS 3,491 7,538

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.

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 15 December 2017 and were signed on its behalf
by:





P Sanders - Director


KELLY PARK LIMITED (REGISTERED NUMBER: 04193512)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017

1. STATUTORY INFORMATION

Kelly Park 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.

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.
Fixtures and fittings - 10% on cost
Equipment - 25% 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 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 140 (2016 - 130 ) .

KELLY PARK LIMITED (REGISTERED NUMBER: 04193512)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2017

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2016 103,443
Additions 13,026
At 31 March 2017 116,469
DEPRECIATION
At 1 April 2016 87,437
Charge for year 7,872
At 31 March 2017 95,309
NET BOOK VALUE
At 31 March 2017 21,160
At 31 March 2016 16,006

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade debtors 25,267 33,015
Amounts recoverable on
contracts 124,559 95,754
Other debtors 236,996 294,252
386,822 423,021

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Bank loans and overdrafts 15,411 64,901
Trade creditors 9,092 24,180
Taxation and social security 130,859 94,353
Other creditors 246,213 246,272
401,575 429,706

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2017 2016
£    £   
Within one year 3,078 10,767
Between one and five years 3,595 -
6,673 10,767

KELLY PARK LIMITED (REGISTERED NUMBER: 04193512)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2017

8. SECURED DEBTS

The following secured debts are included within creditors:

2017 2016
£    £   
Lloyds TSB Commercial Finance 89,415 20,947

Fixed and floating charge over the undertaking and all property and assets present and future, including goodwill,
book debts, uncalled capital, buildings, fixtures, fixed plant & machinery.

9. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2017 2016
value: £    £   
100 Ordinary £1 100 100

10. 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
£    £   
P Sanders and J Sanders
Balance outstanding at start of year 226,163 252,609
Amounts advanced 392,333 97,736
Amounts repaid (440,070 ) (124,182 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 178,426 226,163

11. FIRST YEAR ADOPTION

These financial statements for the year ended 31 March 2017 are the first financial statements that comply with
Financial Reporting Standard 102 ("FRS 102"). The date of transition to FRS102 is 1 April 2015.

The transition to FRS102 has resulted in no changes in accounting policies to those previously used. However
the new standards now require all short term employee benefits to be recognised as an expense in the period in
which the employees render their service. This has resulted in additional assets and liabilities being recognised at
each year end. The adjustment required at the date of transition, is detailed on page 9, and the adjustment to 31
March 2016 accounts is detailed on page 10 and page 11 of the full financial statements.