Kingly Limited - Accounts to registrar (filleted) - small 18.1

Unaudited Financial Statements

for the Year Ended 31 December 2017

for

Kingly Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P A Britton

A P Davies

SECRETARY:

A P Davies

REGISTERED OFFICE:

8-10 South Street

Epsom

Surrey

KT18 7PF

REGISTERED NUMBER:

04546229 (England and Wales)

ACCOUNTANTS:

Williams & Co

Chartered Accountants

8-10 South Street

Epsom

Surrey

KT18 7PF

FIXED ASSETS

Intangible assets

4

1,333

1,833

Tangible assets

5

506

4,635

1,839

6,468

CURRENT ASSETS

Debtors

6

783,220

824,182

Cash at bank

425,243

822,920

1,208,463

1,647,102

CREDITORS

Amounts falling due within one year

7

888,111

1,335,617

NET CURRENT ASSETS

320,352

311,485

TOTAL ASSETS LESS CURRENT LIABILITIES

322,191

317,953

PROVISIONS FOR LIABILITIES

8

96

927

NET ASSETS

322,095

317,026

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

321,995

316,926

SHAREHOLDERS' FUNDS

322,095

317,026

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 9 April 2018 and were signed on its behalf by:

P A Britton - Director

1.	STATUTORY INFORMATION

Kingly 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

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

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

Fixtures and fittings

-

25% on cost

Computer 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 8 (2016 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2017

and 31 December 2017

5,000

AMORTISATION

At 1 January 2017

3,167

Amortisation for year

500

At 31 December 2017

3,667

NET BOOK VALUE

At 31 December 2017

1,333

At 31 December 2016

1,833

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2017

and 31 December 2017

2,641

19,344

21,985

DEPRECIATION

At 1 January 2017

2,526

14,824

17,350

Charge for year

29

4,100

4,129

At 31 December 2017

2,555

18,924

21,479

NET BOOK VALUE

At 31 December 2017

86

420

506

At 31 December 2016

115

4,520

4,635

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

441,864

437,140

Amounts recoverable on contract

227,450

284,115

Other debtors

5,818

1,828

Prepayments

12,054

12,123

Accrued income

96,034

88,976

783,220

824,182

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

240,489

557,781

Amounts payable on contracts

22,745

136,509

Tax

78,507

72,159

Social security and other taxes

16,068

37,731

VAT

108,373

90,972

Other creditors

56,650

56,650

Accrued expenses

16,502

11,714

Cost accruals

348,777

372,101

888,111

1,335,617

8.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

96

927

Deferred

tax

£

Balance at 1 January 2017

927

Credit to Income Statement during year

(831

)

Balance at 31 December 2017

96

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

10.	OTHER FINANCIAL COMMITMENTS

The company has entered into operating leases for a photocopier/printer at an annual rental of £2,141

until November 2022.

11.	ULTIMATE CONTROLLING PARTY

The company is under the control of the Board of Directors.