Abbreviated Company Accounts - MID KENT HOMES (SOUTH EASTERN) LIMITED

MID KENT HOMES (SOUTH EASTERN) LIMITED - Company Information

02674160 MID KENT HOMES (SOUTH EASTERN) LIMITED 2014-03-31 false 2013-04-01 2014-03-31 true 02674160 2013-04-01 2014-03-31 02674160 2014-03-31 02674160 2013-03-31 02674160 uk-gaap-cd-bus:Director1 2013-04-01 2014-03-31 02674160 uk-gaap-cd-bus:Director2 2013-04-01 2014-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-04-01 2014-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-03-31 uk-gaap-cd-bus:OrdinaryShareClass2 2013-04-01 2014-03-31 uk-gaap-cd-bus:OrdinaryShareClass2 2014-03-31 uk-gaap-cd-bus:OrdinaryShareClass2 2013-03-31 uk-gaap-cd-bus:OrdinaryShareClass3 2013-04-01 2014-03-31 uk-gaap-cd-bus:OrdinaryShareClass3 2014-03-31 uk-gaap-cd-bus:OrdinaryShareClass3 2013-03-31 iso4217:GBP shares

Registered Number 02674160

MID KENT HOMES (SOUTH EASTERN) LIMITED

Abbreviated Accounts

31 March 2014

MID KENT HOMES (SOUTH EASTERN) LIMITED Registered Number 02674160

Abbreviated Balance Sheet as at 31 March 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	13,602	16,582
		13,602	16,582
Current assets
Stocks		93,750	56,500
Debtors		296,682	160,280
Cash at bank and in hand		917	1,417
		391,349	218,197
Creditors: amounts falling due within one year		(325,111)	(163,431)
Net current assets (liabilities)		66,238	54,766
Total assets less current liabilities		79,840	71,348
Provisions for liabilities		(2,601)	(2,601)
Total net assets (liabilities)		77,239	68,747
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		77,139	68,647
Shareholders' funds		77,239	68,747

For the year ending 31 March 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 2 December 2014

And signed on their behalf by:
Mr D Harris, Director

MID KENT HOMES (SOUTH EASTERN) LIMITED Registered Number 02674160

Notes to the Abbreviated Accounts for the period ended 31 March 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements are prepared under the historical cost convention.

The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement on the grounds that it is a small company.

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

Turnover policy
Turnover represents the fair value of work done during the year net of VAT. Turnover is recognised as contract activity progresses and the right to consideration is earned. Fair value reflects the amount expected to be recovered.

Unbilled turnover on individual contracts is included as amounts recoverable on contracts. Excess progress payments are included in creditors as payments on account.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows:

Plant and machinery : 20% reducing balance per annum
Fixtures, fittings & equipment : 15% reducing balance per annum
Motor vehicles : 25% reducing balance per annum

Other accounting policies
Stock and work in progress
Work in progress is valued at the lower of cost and net realisable value.

Long term contracts
Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.

Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

2Tangible fixed assets

	£
Cost
At 1 April 2013	70,672
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2014	70,672
Depreciation
At 1 April 2013	54,090
Charge for the year	2,980
On disposals	-
At 31 March 2014	57,070
Net book values
At 31 March 2014	13,602
At 31 March 2013	16,582

3Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
38 A Ordinary shares of £1 each	38	38
38 B Ordinary shares of £1 each	38	38
12 C Ordinary shares of £1 each	12	12

All shares rank pari passu in all aspects.