K_C_SMITH_LIMITED - Accounts

K.C. SMITH LIMITED - Company Information

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K C SMITH LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

Company Registration No. 04756547 (England and Wales)

K C SMITH LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

K C SMITH LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

383

510

Current assets

Debtors

2,089

916

Cash at bank and in hand

459

402

2,548

1,318

Creditors: amounts falling due within one year

(2,081)

(2,306)

Net current assets/(liabilities)

467

(988)

Total assets less current liabilities

850

(478)

Provisions for liabilities

(77)

(102)

773

(580)

Capital and reserves

Called up share capital

Profit and loss account

772

(581)

Shareholders' funds

773

(580)

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

Director's 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 director acknowledges his 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 12 December 2016

Mr K C Smith

Director

Company Registration No. 04756547

K C SMITH LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 2 -

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 January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

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:

Fixtures, fittings & equipment

25% Reducing balance

Fixed assets

Tangible assets

Cost

At 1 April 2015 & at 31 March 2016

5,711

Depreciation

At 1 April 2015

5,201

Charge for the year

127

At 31 March 2016

5,328

Net book value

At 31 March 2016

383

At 31 March 2015

510

Share capital

2016

2015

Allotted, called up and fully paid

1 Ordinary shares of £1 each

Ultimate parent company

The company is controlled by Mr K C Smith, the company's managing director.