Klick Clothing Limited - Period Ending 2017-12-31

Registration number: 08259089

Klick Clothing Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2017

D C Accounting Solutions Limited
Chartered Accountants and Business Advisers
Heron House,
39-41 Higher Bents Lane,
Bredbury,
Stockport
SK6 1EE

Klick Clothing Limited

Contents

Company Information	1
Accountants' Report	2
Statement of Comprehensive Income	3
Balance Sheet	4
Statement of Changes in Equity	5
Notes to the Financial Statements	6 to 8

Klick Clothing Limited

Company Information

Directors

Mr Alexander James Storey Mrs Diane Elizabeth Storey

Registered office

10 Sagars Road Handforth Wilmslow Cheshire SK9 3EE

Accountants

D C Accounting Solutions Limited Chartered Accountants and Business Advisers Heron House, 39-41 Higher Bents Lane, Bredbury, Stockport SK6 1EE

Page 1

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Klick Clothing Limited
for the Year Ended 31 December 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Klick Clothing Limited for the year ended 31 December 2017 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Klick Clothing Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Klick Clothing Limited and state those matters that we have agreed to state to the Board of Directors of Klick Clothing Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Klick Clothing Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Klick Clothing Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Klick Clothing Limited. You consider that Klick Clothing Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Klick Clothing Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

D C Accounting Solutions Limited
Chartered Accountants and Business Advisers
Heron House,
39-41 Higher Bents Lane,
Bredbury,
Stockport
SK6 1EE

19 September 2018

Page 2

Klick Clothing Limited

Statement of Comprehensive Income for the Year Ended 31 December 2017

	Note	2017 £	2016 £
Profit for the year		7,360	19,742
Total comprehensive income for the year		7,360	19,742

The notes on pages 6 to 8 form an integral part of these financial statements.

Page 3

Klick Clothing Limited

(Registration number: 08259089)
Balance Sheet as at 31 December 2017

	Note	2017 £	2016 £
Current assets
Debtors	5	-	1,961
Cash at bank and in hand		49,826	58,333
		49,826	60,294
Creditors: Amounts falling due within one year	6	(49,745)	(59,073)
Net assets		81	1,221
Capital and reserves
Called up share capital		2	2
Profit and loss account		79	1,219
Total equity		81	1,221

For the financial year ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 18 September 2018 and signed on its behalf by:
 

.........................................

Mr Alexander James Storey

Director

The notes on pages 6 to 8 form an integral part of these financial statements.

Page 4

Klick Clothing Limited

Statement of Changes in Equity for the Year Ended 31 December 2017

	Share capital £	Profit and loss account £	Total £
At 1 January 2017	2	1,219	1,221
Profit for the year	-	7,360	7,360
Total comprehensive income	-	7,360	7,360
Dividends	-	(8,500)	(8,500)
At 31 December 2017	2	79	81

	Share capital £	Profit and loss account £	Total £
At 1 January 2016	2	(523)	(521)
Profit for the year	-	19,742	19,742
Total comprehensive income	-	19,742	19,742
Dividends	-	(18,000)	(18,000)
At 31 December 2016	2	1,219	1,221

The notes on pages 6 to 8 form an integral part of these financial statements.

Page 5

Klick Clothing Limited

Notes to the Financial Statements for the Year Ended 31 December 2017

1	General information

The company is a private company limited by share capital incorporated in England.

The address of its registered office is:
10 Sagars Road
Handforth
Wilmslow
Cheshire
SK9 3EE
England

These financial statements were authorised for issue by the Board on 18 September 2018.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	33.33% Straight line
Fixtures and fittings	33.33% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Page 6

Klick Clothing Limited

Notes to the Financial Statements for the Year Ended 31 December 2017

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2016 - 2).

Page 7

Klick Clothing Limited

Notes to the Financial Statements for the Year Ended 31 December 2017

4	Tangible assets

	Furniture, fittings and equipment  £	Other property, plant and equipment  £	Total £
Cost or valuation
At 1 January 2017	3,285	10,655	13,940
Disposals	-	(10,381)	(10,381)
At 31 December 2017	3,285	274	3,559
Depreciation
At 1 January 2017	3,285	10,655	13,940
Eliminated on disposal	-	(10,381)	(10,381)
At 31 December 2017	3,285	274	3,559
Carrying amount
At 31 December 2017	-	-	-

5

Debtors

	2017 £	2016 £
Trade debtors	-	1,961
Total current trade and other debtors	-	1,961

6

Creditors

	Note	2017 £	2016 £
Due within one year
Amounts owed to group undertakings and undertakings in which the company has a participating interest		45,626	36,458
Taxation and social security		1,386	1,239
Other creditors		2,733	21,376
		49,745	59,073

7

Dividends

Final dividends paid

	2017 £	2016 £
Final dividend of £4,250 (2016 - £9,000) per each Ordinary share	8,500	18,000

Page 8