Konx Wales Ltd - Limited company - abbreviated

REGISTERED NUMBER: 05599691 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

KONX WALES LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

A W Williams

A Griffiths

I Marshall

SECRETARY:

I Marshall

REGISTERED OFFICE:

Unit 1b Coed Y Parc Industrial Estate

Bethesda

Bangor

Gwynedd

LL57 4YY

REGISTERED NUMBER:

05599691 (England and Wales)

ACCOUNTANTS:

Williams Denton Cyf

Chartered Certified Accountants

Glaslyn Ffordd Y Parc

Parc Menai

Bangor

Gwynedd

LL57 4FE

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

7,428

9,506

7,428

9,506

CURRENT ASSETS

Stocks

516,416

483,369

Debtors

191,058

173,537

Cash at bank and in hand

10,475

17,300

717,949

674,206

CREDITORS

Amounts falling due within one year

4

(615,058

)

(583,865

)

NET CURRENT ASSETS

102,891

90,341

TOTAL ASSETS LESS CURRENT
LIABILITIES

110,319

99,847

PROVISIONS FOR LIABILITIES

(1,109

)

(1,442

)

NET ASSETS

109,210

98,405

CAPITAL AND RESERVES

Called up share capital

5

912

Profit and loss account

108,298

97,493

SHAREHOLDERS' FUNDS

109,210

98,405

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 17 March 2016 and were signed on its behalf by:

A W Williams - Director

A Griffiths - Director

I Marshall - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Goodwill

Small purchases of goodwill, which represent less than 10% of the turnover, are written off in the year in which

expenditure is incurred.

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

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

39,000

AMORTISATION

At 1 January 2015

and 31 December 2015

39,000

NET BOOK VALUE

At 31 December 2015

-

At 31 December 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

53,031

Additions

1,368

At 31 December 2015

54,399

DEPRECIATION

At 1 January 2015

43,525

Charge for year

3,446

At 31 December 2015

46,971

NET BOOK VALUE

At 31 December 2015

7,428

At 31 December 2014

9,506

4.

CREDITORS

Creditors include an amount of £ 164,721 (31.12.14 - £ 43,583 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.15

31.12.14

value:

£

897

Ordinary

£1

897

15

'A' ordinary

£1

15

912

6.	TRANSACTIONS WITH DIRECTORS

The loans from the directors have no fixed repayment date and are not interest bearing.

Konx Wales Ltd - Limited company - abbreviated - 11.9

Konx Wales Ltd - Limited company - abbreviated - 11.9