KF Homes Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC528479 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

FOR

KF HOMES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

K W Forrest

REGISTERED OFFICE:

17 Fairyknowe Gardens

Bothwell

Glasgow

G71 8RW

REGISTERED NUMBER:

SC528479 (Scotland)

ACCOUNTANT:

John Murphy & Company (Scotland) Limited

Chartered Accountants

Castle Chambers

67 Main Street

Bothwell

Lanarkshire

G71 8ER

FIXED ASSETS

Tangible assets

3

43,747

-

CURRENT ASSETS

Stocks

34,453

-

Debtors

4

8,459

-

Cash at bank and in hand

66

1

42,978

1

CREDITORS

Amounts falling due within one year

5

106,519

-

NET CURRENT (LIABILITIES)/ASSETS

(63,541

)

1

TOTAL ASSETS LESS CURRENT LIABILITIES

(19,794

)

1

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(19,795

)

-

SHAREHOLDERS' FUNDS

(19,794

)

1

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 30 January 2019 and were signed by:

K W Forrest - Director

1.	STATUTORY INFORMATION

KF Homes Ltd is a private company, limited by shares , registered in Scotland. 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.

The accounts have been prepared on a going concern basis, the validity of which depends on future support being available

from the company's director. At the date of signing these financial statements, this support has been secured.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Showhouse fittings

-

25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

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.	TANGIBLE FIXED ASSETS

Fixtures

Showhouse

and

Motor

Computer

fittings

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

Additions

4,128

233

52,461

1,208

58,030

At 31 March 2018

4,128

233

52,461

1,208

58,030

DEPRECIATION

Charge for year

1,031

36

13,115

101

14,283

At 31 March 2018

1,031

36

13,115

101

14,283

NET BOOK VALUE

At 31 March 2018

3,097

197

39,346

1,107

43,747

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

VAT

8,459

-

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Directors' current accounts

105,919

-

Accrued charges

600

-

106,519

-

6.	ULTIMATE CONTROLLING PARTY

The controlling party is K W Forrest.