Ken Briggs Ltd - Accounts to registrar (filleted) - small 17.3
Ken Briggs Ltd - Accounts to registrar (filleted) - small 17.3
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2017 |
FOR |
KEN BRIGGS LTD |
KEN BRIGGS LTD (REGISTERED NUMBER: 04761156) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2017 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
KEN BRIGGS LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2017 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
12 Abbey Road |
GRIMSBY |
DN32 0HL |
BANKERS: |
7 Market Place |
Market Rasen |
LN8 3HJ |
KEN BRIGGS LTD (REGISTERED NUMBER: 04761156) |
ABRIDGED BALANCE SHEET |
31 MAY 2017 |
31.5.17 | 31.5.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
Investment property | 7 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Profit and loss account |
SHAREHOLDERS' FUNDS |
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. |
KEN BRIGGS LTD (REGISTERED NUMBER: 04761156) |
ABRIDGED BALANCE SHEET - continued |
31 MAY 2017 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the director on |
KEN BRIGGS LTD (REGISTERED NUMBER: 04761156) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2017 |
1. | STATUTORY INFORMATION |
Ken Briggs Ltd is a |
registered number and registered office address can be found on the Company Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents invoiced goods and services. |
Goodwill |
Goodwill arising on the acquisition of businesses, represents the excess of the fair value of consideration over |
the fair value of identifiable assets and liabilities acquired. |
Goodwill is amortised in equal instalments over its expected useful life which is estimated at twenty years, except |
where it has been identified as impaired in the period, in which case it is written down as appropriate. |
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. |
Tangible fixed assets |
Long leasehold | - |
Plant and machinery | - |
Motor vehicles | - |
Computer equipment | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
fair value is recognised in profit or loss. |
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 Profit and loss account, 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. |
KEN BRIGGS LTD (REGISTERED NUMBER: 04761156) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2017 |
2. | ACCOUNTING POLICIES - continued |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling |
at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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 |
4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 June 2016 |
and 31 May 2017 |
AMORTISATION |
At 1 June 2016 |
Amortisation for year |
At 31 May 2017 |
NET BOOK VALUE |
At 31 May 2017 |
At 31 May 2016 |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 June 2016 |
Additions |
Disposals | ( |
) |
Reclassification/transfer | ( |
) |
At 31 May 2017 |
DEPRECIATION |
At 1 June 2016 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 May 2017 |
NET BOOK VALUE |
At 31 May 2017 |
At 31 May 2016 |
KEN BRIGGS LTD (REGISTERED NUMBER: 04761156) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2017 |
6. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
£ |
COST |
Additions | 400,000 |
At 31 May 2017 | 400,000 |
NET BOOK VALUE |
At 31 May 2017 | 400,000 |
7. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
Reclassification/transfer | 127,000 |
At 31 May 2017 |
NET BOOK VALUE |
At 31 May 2017 |
Whilst a professional valuation of the investment properties has not been used at the year end, the director has |
compared the market values for similar properties and believes that the above represents fair value. |
8. | FIRST YEAR ADOPTION |
In preparing the accounts, the director has considered whether in applying the accounting policies required by |
FRS 102 Section 1A for small companies, the restatement of comparative items was required. |
There was no effect on the reserves of the company on transition to FRS 102 Section 1A for small companies. |
Transitional relief |
No exemptions have been taken advantage of. |