Kings Office Furniture Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 08926184 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2017

FOR

KINGS OFFICE FURNITURE LIMITED

Page

Balance sheet

1

Notes to the financial statements

2

Fixed assets

Tangible assets

4

51,717

23,381

Investments

5

22,000

22,000

73,717

45,381

Current assets

Stocks

150,000

50,000

Debtors

6

271,533

185,546

Cash at bank

153,668

130,907

575,201

366,453

Creditors

Amounts falling due within one year

7

253,682

274,363

Net current assets

321,519

92,090

Total assets less current liabilities

395,236

137,471

Provisions for liabilities

8

6,427

312

Net assets

388,809

137,159

Capital and reserves

Called up share capital

9

100

100

Retained earnings

388,709

137,059

Shareholders' funds

388,809

137,159

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 19 June 2018 and were signed by:

Mr A Mayer - Director

1.	Statutory information

Kings Office Furniture Limited is a private company, limited by shares, registered in England and Wales. The company's

registered number is 08926184. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH and the business

address is Unit 6 Northbrook Industrial Estate, Vincent Avenue, Hollybrook, Southampton, Hampshire, SO16 6PB.

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 represents the fair value of the consideration receivable, excluding discounts, rebates, VAT and other sales taxes

for goods and services provided.

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 reducing balance

Investments in associates

Investments in associate undertakings are recognised at cost.

Stocks

Stock and Work In Progress are valued at the lower of cost and net realisable value.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or

past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that

have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of

current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing

differences are differences between taxable profits and total comprehensive income as stated in the financial statements

that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are

recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet

date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible

fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

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.

Financial instruments

Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the

contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract

that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any

losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 10 (2016 - 8 ) .

4.	Tangible fixed assets

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

Cost

At 1 October 2016

-

25,301

2,500

27,801

Additions

1,107

20,985

18,420

40,512

Disposals

-

-

(1,000

)

(1,000

)

At 30 September 2017

1,107

46,286

19,920

67,313

Depreciation

At 1 October 2016

-

3,795

625

4,420

Charge for year

166

6,374

4,886

11,426

Eliminated on disposal

-

-

(250

)

(250

)

At 30 September 2017

166

10,169

5,261

15,596

Net book value

At 30 September 2017

941

36,117

14,659

51,717

At 30 September 2016

-

21,506

1,875

23,381

5.	Fixed asset investments

Interest

in

associate

£

Cost

At 1 October 2016

and 30 September 2017

22,000

Net book value

At 30 September 2017

22,000

At 30 September 2016

22,000

6.

Debtors: amounts falling due within one year

2017

2016

£

£

Trade debtors

263,687

171,636

Other debtors

-

6,766

Prepayments

7,846

7,144

271,533

185,546

7.

Creditors: amounts falling due within one year

2017

2016

£

£

Bank loans and overdrafts

-

8,486

Trade creditors

131,794

41,172

Tax

51,330

40,356

Social security and other taxes

2,788

1,985

VAT

28,516

35,175

Other creditors

-

58,778

Directors' current accounts

32,695

78,342

Accruals and deferred income

6,559

10,069

253,682

274,363

8.	Provisions for liabilities

2017

2016

£

£

Deferred tax

6,427

312

Deferred

tax

£

Balance at 1 October 2016

312

Charge to Statement of comprehensive income during year

6,115

Balance at 30 September 2017

6,427

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

10.	Ultimate controlling party

The company is controlled by its Director, Mr A Mayer, who owns 51% of the issued share capital.