King & Johnston Homes Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03347114 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2018

for

King & Johnston Homes Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

D R King

SECRETARY:

Mrs R King

REGISTERED OFFICE:

380 New Hythe Lane

Larkfield

Aylesford

Maidstone

Kent

ME20 6RZ

REGISTERED NUMBER:

03347114 (England and Wales)

ACCOUNTANTS:

Sinden Thackeray Partnership

Stirling House

Sunderland Quay

Culpeper Close

Rochester

Kent

ME2 4HN

CURRENT ASSETS

Stocks

2,194,264

2,351,366

Debtors

3

-

5,000

Cash at bank

872,448

251,331

3,066,712

2,607,697

CREDITORS

Amounts falling due within one year

4

1,654,504

1,430,923

NET CURRENT ASSETS

1,412,208

1,176,774

TOTAL ASSETS LESS CURRENT LIABILITIES

1,412,208

1,176,774

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,412,108

1,176,674

SHAREHOLDERS' FUNDS

1,412,208

1,176,774

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 November 2018 and were signed by:

D R King - Director

1.	STATUTORY INFORMATION

King & Johnston Homes 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.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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.

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Directors' current accounts

-

4,000

Tax

-

1,000

-

5,000

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade creditors

2

-

Tax

55,225

56,605

King & Johnston Building

Contractors Limited

1,076,034

773,680

King&Johnston Developments Ltd

522,508

599,938

Accrued expenses

735

700

1,654,504

1,430,923

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2018 and

31 March 2017:

31.3.18

31.3.17

£

£

D R King

Balance outstanding at start of year

(4,000

)

396,000

Amounts advanced

104,000

-

Amounts repaid

(100,000

)

(400,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

(4,000

)

6.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D R King.