Company Registration No. 06309354 (England and Wales)
KSI SERVICES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2015
KSI SERVICES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
KSI SERVICES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 SEPTEMBER 2015
30 September 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
57,663
27,122
Current assets
Stocks
1,500
1,500
Debtors
611,218
565,851
Cash at bank and in hand
174,128
111,304
786,846
678,655
Creditors: amounts falling due within one year
3
(244,472)
(183,838)
Net current assets
542,374
494,817
Total assets less current liabilities
600,037
521,939
Creditors: amounts falling due after more than one year
4
(20,690)
(11,309)
Provisions for liabilities
(6,284)
(1,570)
573,063
509,060
Capital and reserves
Called up share capital
5
100
100
Profit and loss account
572,963
508,960
Shareholders' funds
573,063
509,060
KSI SERVICES LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2015
30 September 2015
- 2 -
For the financial year ended 30 September 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 28 June 2016
Mrs J Roberts
Mr K Stevens
Director
Director
Company Registration No. 06309354
KSI SERVICES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2015
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Turnover
Turnover represents revenue earned under a variety of contracts to provide services. Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax. Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of the work performed. Revenue not billed to clients is included in debtors.revenue earned under a variety of contracts to provide services. Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax.
Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of the work performed. Revenue not billed to clients is included in debtors.
1.3
Tangible fixed assets and depreciation
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 basis
Computer equipment
33% on cost
Fixtures, fittings & equipment
15% reducing balance basis
Motor vehicles
25% reducing balance basis
1.4
Stock
Stock is valued at the lower of cost and net realisable value.
1.5
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.
KSI SERVICES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2015
- 4 -
2
Fixed assets
Tangible assets
£
Cost
At 1 October 2014
72,310
Additions
55,598
Disposals
(44,281)
At 30 September 2015
83,627
Depreciation
At 1 October 2014
45,188
On disposals
(27,905)
Charge for the year
8,681
At 30 September 2015
25,964
Net book value
At 30 September 2015
57,663
At 30 September 2014
27,122
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £3,444 (2014 - £2,973).
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £20,690 (2014 - £11,309).
5
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
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