3K's Trading Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 01824261 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st March 2017

for

3K's Trading Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

W B Kirkham

L B Kirkham

SECRETARY:

L B Kirkham

REGISTERED OFFICE:

Sandy Lane Farm

Congleton

Cheshire

CW12 2JJ

REGISTERED NUMBER:

01824261 (England and Wales)

FIXED ASSETS

Tangible assets

4

6,057

8,496

CURRENT ASSETS

Stocks

1,442,433

1,434,523

Debtors

-

1,949

Cash at bank and in hand

8,356

9,644

1,450,789

1,446,116

CREDITORS

Amounts falling due within one year

236,439

259,796

NET CURRENT ASSETS

1,214,350

1,186,320

TOTAL ASSETS LESS CURRENT LIABILITIES

1,220,407

1,194,816

CREDITORS

Amounts falling due after more than one year

5

72,656

78,479

NET ASSETS

1,147,751

1,116,337

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,147,651

1,116,237

SHAREHOLDERS' FUNDS

1,147,751

1,116,337

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.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 22nd December 2017 and were signed on its behalf by:

L B Kirkham - Director

1.	STATUTORY INFORMATION

3K's Trading 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.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the year ended 31st March 2017 are the first that are prepared in accordance with

FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the date of

transition to FRS 102 Section 1A is 1st April 2015.

Turnover

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

value added tax and other sales taxes.

Turnover is measured at the fair value of the consideration received or receivable and represents amounts

receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income is recognised when goods have been delivered to customers such that risks and rewards of ownership

have transferred to them.

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 etc

-

20% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st April 2016

and 31st March 2017

88,774

DEPRECIATION

At 1st April 2016

80,278

Charge for year

2,439

At 31st March 2017

82,717

NET BOOK VALUE

At 31st March 2017

6,057

At 31st March 2016

8,496

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

31/3/17

31/3/16

£

£

Repayable by instalments

Bank loans more 5 yr by instal

45,197

51,020

6.	SECURED DEBTS

The following secured debts are included within creditors:

31/3/17

31/3/16

£

£

Bank loans

79,521

85,344

7.	FINANCIAL INSTRUMENTS

Bank loans and directors loans (being repayable on demand) are classified as financial instruments.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest,

and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective

evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the

statement of income and Retained Earnings.