Kevin Castle (Pet Care) Ltd - Period Ending 2016-03-31

Registration number: 07863527

Kevin Castle (Pet Care) Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Kevin Castle (Pet Care) Ltd
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Kevin Castle (Pet Care) Ltd
(Registration number: 07863527)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					399,348			424,307
Tangible fixed assets					27,273			30,064
					426,621			454,371
Current assets
Stocks					18,880			18,087
Debtors					9,544			6,635
Cash at bank and in hand					404,555			405,162
					432,979			429,884
Creditors: Amounts falling due within one year					(440,987)			(575,157)
Net current liabilities					(8,008)			(145,273)
Total assets less current liabilities					418,613			309,098
Provisions for liabilities					(4,884)			(5,316)
Net assets					413,729			303,782
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					413,629			303,682
Shareholders' funds					413,729			303,782

For the year ending 31 March 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 28 July 2016

 Mr Kevin Arthur Castle
 Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Kevin Castle (Pet Care) Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write of the cost, less any estimated residual value, over their expected usefull economic life as follows:

Asset class	Amortisation method and rate
Goodwill	5% straight line

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost of valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	15% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 2

Kevin Castle (Pet Care) Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2015		499,184			46,449			545,633
Additions		-			2,022			2,022
At 31 March 2016		499,184			48,471			547,655
Depreciation
At 1 April 2015		74,877			16,385			91,262
Charge for the year		24,959			4,813			29,772
At 31 March 2016		99,836			21,198			121,034
Net book value
At 31 March 2016		399,348			27,273			426,621
At 31 March 2015		424,307			30,064			454,371

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary Shares of £1 each		100			100			100			100

Page 3