K L George (Pipework Services) Ltd - Accounts to registrar (filleted) - small 18.1

K L GEORGE

(PIPEWORK SERVICES) LIMITED

Unaudited Financial Statements

for the Year Ended 31 July 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

K L George

SECRETARY:

Ms A M Gray

REGISTERED OFFICE:

88 Hill Village Road

Sutton Coldfield

West Midlands

B75 5BE

BUSINESS ADDRESS:

140 Bridle Lane

Streetly

Sutton Coldfield

West Midlands

B74 3HQ

REGISTERED NUMBER:

05096520 (England and Wales)

ACCOUNTANTS:

Haslehursts Limited

88 Hill Village Road

Sutton Coldfield

West Midlands

B75 5BE

FIXED ASSETS

Intangible assets

5

9,000

12,000

Tangible assets

6

1,774

2,087

10,774

14,087

CURRENT ASSETS

Debtors

7

4,084

3,575

Investments

8

192,273

167,041

Cash at bank

123,425

157,424

319,782

328,040

CREDITORS

Amounts falling due within one year

9

(5,158

)

(6,048

)

NET CURRENT ASSETS

314,624

321,992

TOTAL ASSETS LESS CURRENT LIABILITIES

325,398

336,079

PROVISIONS FOR LIABILITIES

10

(3,200

)

(90

)

NET ASSETS

322,198

335,989

CAPITAL AND RESERVES

Called up share capital

11

1

1

Retained earnings

322,197

335,988

SHAREHOLDERS' FUNDS

322,198

335,989

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2017 in accordance with Section 476 of the Companies Act 2006.

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.

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 director on 23 April 2018 and were signed by:

K L George - Director

1.	STATUTORY INFORMATION

K L George (Pipework Services) 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

These financial statements for the year ended 31 July 2017 are the first financial statements that

comply with FRS 102 Section 1A small entities.

The nature of these changes and their impact on opening reserves and profit for the comparative

period are explained in the notes to the financial statements..

Turnover

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

rebates, value added tax and other sales taxes.

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.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 August 2016

and 31 July 2017

30,000

AMORTISATION

At 1 August 2016

18,000

Charge for year

3,000

At 31 July 2017

21,000

NET BOOK VALUE

At 31 July 2017

9,000

At 31 July 2016

12,000

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2016

and 31 July 2017

20,258

DEPRECIATION

At 1 August 2016

18,171

Charge for year

313

At 31 July 2017

18,484

NET BOOK VALUE

At 31 July 2017

1,774

At 31 July 2016

2,087

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

3,915

3,422

Other debtors

169

153

4,084

3,575

8.	CURRENT ASSET INVESTMENTS

2017

2016

£

£

Listed investments

192,273

167,041

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

586

417

Taxation and social security

1,618

3,250

Other creditors

2,954

2,381

5,158

6,048

10.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

Other timing differences

3,200

90

Deferred

tax

£

Balance at 1 August 2016

90

Charge to Income Statement during year

3,110

Balance at 31 July 2017

3,200

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

1

Ordinary

£1

1

1

12.	FIRST YEAR ADOPTION

This is the first year that the company has presented its financial statements under Financial Reporting

Standard 102 1A (FRS 102 1A). The last financial statements under UK GAAP were for the year ended

31 July 2016. The date of transition to FRS 102 1A was 1 August 2015.

Adopting FRS 102 1A has meant that a number of accounting policies have changed to comply with

the new standard as follows:

Current asset investments - under previous UK GAAP the current asset investments were previously

measured at cost. Under FRS 102 1A, the current asset investments are measured at market value.

The movement in the market value of current asset investments is shown in the profit and loss

account. At the date of transition the increase in the market value of current asset investments of

£3,046 was charged to the profit and loss account. In the year ending 31 July 2016 the decrease in the

market value of current asset investments of £1,623 was charged to the profit and loss account.

Deferred taxation on revaluation of current asset investments - under previous UK GAAP deferred

taxation on current asset investments was not recognised. Under FRS 102 1A deferred taxation on

current asset investments is recognised. A deferred taxation charge of £610 arose on the transition to

FRS 102 1A. In the year ending 31 July 2016 there was a tax credit arising of £519 to reduce the

deferred tax charge to £90.