Abbreviated Company Accounts - KEANES LIMITED

00992072 KEANES LIMITED 2015-12-31 false 2015-01-01 2015-12-31 true 00992072 2015-01-01 2015-12-31 00992072 2015-12-31 00992072 2014-12-31 00992072 uk-gaap-cd-bus:Director1 2015-01-01 2015-12-31 00992072 uk-gaap-cd-bus:Director2 2015-01-01 2015-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-01-01 2015-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-12-31 iso4217:GBP shares

Registered Number 00992072

KEANES LIMITED

Abbreviated Accounts

31 December 2015

KEANES LIMITED Registered Number 00992072

Abbreviated Balance Sheet as at 31 December 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	15,071	35,994
Investments	3	8,985	14,999
		24,056	50,993
Current assets
Stocks		3,000	3,000
Debtors		1,271,393	1,738,390
Cash at bank and in hand		8,287	12,636
		1,282,680	1,754,026
Creditors: amounts falling due within one year		(997,505)	(1,087,855)
Net current assets (liabilities)		285,175	666,171
Total assets less current liabilities		309,231	717,164
Creditors: amounts falling due after more than one year		(326)	-
Total net assets (liabilities)		308,905	717,164
Capital and reserves
Called up share capital	4	10,000	10,000
Profit and loss account		298,905	707,164
Shareholders' funds		308,905	717,164

For the year ending 31 December 2015 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 directors acknowledge their 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 Board on 27 September 2016

And signed on their behalf by:
D M Keane, Director

KEANES LIMITED Registered Number 00992072

Notes to the Abbreviated Accounts for the period ended 31 December 2015

1Accounting Policies

Basis of measurement and preparation of accounts
1.1. Accounting convention
The accounts are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2. Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

1.3. Tangible fixed assets and depreciation
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Plant and machinery - 15% reducing balance
Fixtures, fittings and equipment - 20% reducing balance
Motor vehicles - 25% reducing balance

1.4. Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each period.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.5. Investments
Fixed asset investments are stated at cost less provision for permanent diminution in value.

1.6. Stock
Stock is valued at the lower of cost and net realisable value.

1.7. Deferred taxation
No provision for deferred taxation has been provided for in the financial statements, due to the amount not being material.

1.8. Financial instruments
Financial instruments are classified and accounted for, according to the substance of contractual arrangement, as either 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.

2Tangible fixed assets

	£
Cost
At 1 January 2015	795,195
Additions	2,879
Disposals	(9,800)
Revaluations	-
Transfers	-
At 31 December 2015	788,274
Depreciation
At 1 January 2015	759,201
Charge for the year	23,802
On disposals	(9,800)
At 31 December 2015	773,203
Net book values
At 31 December 2015	15,071
At 31 December 2014	35,994

3Fixed assets Investments
Fixed asset investments are stated at cost less provision for permanent diminution in value.

4Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
10,000 Ordinary shares of £1 each	10,000	10,000