K.W. Brothers Ltd - Accounts to registrar (filleted) - small 18.2

K.W. Brothers Ltd

Unaudited Financial Statements for the Year Ended 31 March 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

M Yung

REGISTERED OFFICE:

C/o K W Brothers Wholesale

25-27 Durnford Street

Plymouth

Devon

PL1 3QF

REGISTERED NUMBER:

07090606 (England and Wales)

ACCOUNTANTS:

Matthews Sutton & Co Ltd

Chartered Certified Accountants

48 - 52 Penny Lane

Mossley Hill

Liverpool

Merseyside

L18 1DG

FIXED ASSETS

Intangible assets

3

12,600

25,200

Tangible assets

4

671,951

718,305

684,551

743,505

CURRENT ASSETS

Debtors

5

152,123

121,523

CREDITORS

Amounts falling due within one year

6

519,261

519,016

NET CURRENT LIABILITIES

(367,138

)

(397,493

)

TOTAL ASSETS LESS CURRENT LIABILITIES

317,413

346,012

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

317,403

346,002

317,413

346,012

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 12 December 2018 and were signed by:

M Yung - Director

1.	STATUTORY INFORMATION

K.W. Brothers Ltd 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

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 etc

-

10% on reducing balance

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.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2017

and 31 March 2018

63,000

AMORTISATION

At 1 April 2017

37,800

Charge for year

12,600

At 31 March 2018

50,400

NET BOOK VALUE

At 31 March 2018

12,600

At 31 March 2017

25,200

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2017

and 31 March 2018

254,763

588,646

843,409

DEPRECIATION

At 1 April 2017

-

125,104

125,104

Charge for year

-

46,354

46,354

At 31 March 2018

-

171,458

171,458

NET BOOK VALUE

At 31 March 2018

254,763

417,188

671,951

At 31 March 2017

254,763

463,542

718,305

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

as restated

£

£

Other debtors

152,123

121,523

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

as restated

£

£

Trade creditors

1

-

Other creditors

519,260

519,016

519,261

519,016