KJM Systems Limited - Accounts to registrar - small 17.2

KJM Systems Limited - Accounts to registrar - small 17.2


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REGISTERED NUMBER: 03505899(England and Wales)















Financial Statements for the Year Ended 28 February 2017

for

KJM Systems Limited

KJM Systems Limited (Registered number: 03505899)






Contents of the Financial Statements
for the Year Ended 28 February 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


KJM Systems Limited

Company Information
for the Year Ended 28 February 2017







DIRECTOR: D Ross





SECRETARY: Mrs K J Ross





REGISTERED OFFICE: 15 Bishopdale
Mount Pleasant
Houghton-Le-Spring
Tyne and Wear
DH4 7SW





REGISTERED NUMBER: 03505899(England and Wales)





ACCOUNTANTS: J M Taylor
7 Ythan Terrace
Ellon
ABERDEENSHIRE
AB41 9LJ

KJM Systems Limited (Registered number: 03505899)

Balance Sheet
28 February 2017

28.2.17 29.2.16
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 732 777

CURRENT ASSETS
Inventories 5,356 12,000
Debtors 5 13,064 5,960
Cash at bank 685 788
19,105 18,748
CREDITORS
Amounts falling due within one year 6 17,541 18,925
NET CURRENT ASSETS/(LIABILITIES) 1,564 (177 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,296

600

PROVISIONS FOR LIABILITIES - 78
NET ASSETS 2,296 522

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 2,294 520
SHAREHOLDERS' FUNDS 2,296 522

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 11 August 2017and were signed by:



D Ross- Director


KJM Systems Limited (Registered number: 03505899)

Notes to the Financial Statements
for the Year Ended 28 February 2017

1. STATUTORY INFORMATION

KJM Systems Limited is a private company, limited by shares, registered in England and Wales. The company's
registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in
bringing inventories to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to
the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or
substantively enacted by the balance sheet date.

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the
timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they
will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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 profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2.

KJM Systems Limited (Registered number: 03505899)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2017

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2016 228 11,964 12,192
Additions - 206 206
At 28 February 2017 228 12,170 12,398
DEPRECIATION
At 1 March 2016 228 11,187 11,415
Charge for year - 251 251
At 28 February 2017 228 11,438 11,666
NET BOOK VALUE
At 28 February 2017 - 732 732
At 29 February 2016 - 777 777

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.17 29.2.16
£    £   
Trade debtors 13,064 5,960

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.17 29.2.16
£    £   
Bank loans and overdrafts 1,927 1,736
Trade creditors 3,269 600
Taxation and social security 8,382 10,732
Other creditors 3,963 5,857
17,541 18,925

7. RELATED PARTY DISCLOSURES

During the year the director D. Ross advanced the company net amounts totalling £663. This amount remained
outstanding at 28.02.17 and is included within Other creditors in the notes to the accounts.

During the period the director D Ross received net dividends totalling £5,000 from the company.

8. ULTIMATE CONTROLLING PARTY

The controlling party is D Ross.