Keen Electronics Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 02613501 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2017

for

Keen Electronics Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M J Keen

N Keen

Ms T Speirs

REGISTERED OFFICE:

127 New Road

Bromham

Chippenham

SN15 2JA

REGISTERED NUMBER:

02613501 (England and Wales)

ACCOUNTANTS:

Danton Partners Ltd

Chartered Management Accountants

7 Merlin Centre

Gatehouse Close

Aylesbury

Buckinghamshire

HP19 8DP

FIXED ASSETS

Tangible assets

4

4,304

5,379

CURRENT ASSETS

Stocks

4,565

3,990

Debtors

5

12,112

6,475

Prepayments and accrued income

-

154

Cash at bank

8,029

14,029

24,706

24,648

CREDITORS

Amounts falling due within one year

6

26,751

22,978

NET CURRENT (LIABILITIES)/ASSETS

(2,045

)

1,670

TOTAL ASSETS LESS CURRENT LIABILITIES

2,259

7,049

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

8

2,159

6,949

SHAREHOLDERS' FUNDS

2,259

7,049

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 13 February 2018 and were signed on its behalf by:

M J Keen - Director

1.	STATUTORY INFORMATION

Keen Electronics 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

20% on cost

Plant and machinery

-

18% on reducing balance

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

property

machinery

Totals

£

£

£

COST

At 1 June 2016

and 31 May 2017

4,777

6,968

11,745

DEPRECIATION

At 1 June 2016

-

6,366

6,366

Charge for year

955

120

1,075

At 31 May 2017

955

6,486

7,441

NET BOOK VALUE

At 31 May 2017

3,822

482

4,304

At 31 May 2016

4,777

602

5,379

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Trade debtors

12,112

6,475

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Trade creditors

2,459

197

Tax

296

1,196

Social security and other taxes

169

-

VAT

695

540

Directors' current accounts

22,817

19,295

Accrued expenses

315

1,750

26,751

22,978

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.17

31.5.16

value:

£

£

100

Ordinary

£1

100

100

8.

RESERVES

Retained

earnings

£

At 1 June 2016

6,949

Profit for the year

210

Dividends

(5,000

)

At 31 May 2017

2,159

9.	RELATED PARTY DISCLOSURES

Other Creditors shown in note 9 includes £22,817 due to a director, Mr M J Keen (2016 - £19,296). There are

no fixed terms for repayment of this amount. Interest is charged at 5% per annum. The charge for the year was

£880.

10.	ULTIMATE CONTROLLING PARTY