KDS & Associates Limited - Period Ending 2013-11-30

Registration number: 02817764

KDS & Associates Limited

Unaudited Abbreviated Accounts

for the Period from 1 June 2012 to 30 November 2013

 

Flemmings Chartered Accountants
76 Canterbury Road
Croydon
Surrey
CR0 3HA

KDS & Associates Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

KDS & Associates Limited
(Registration number: 02817764)
Abbreviated Balance Sheet at 30 November 2013

		Note			30 November 2013						31 May 2012
	£			£			£			£
Fixed assets
Tangible fixed assets								4,000						3,297
Current assets
Debtors					238,488						267,204
Cash at bank and in hand					33,506						29,309
					271,994						296,513
Creditors: Amounts falling due within one year					(237,182)						(217,966)
Net current assets								34,812						78,547
Net assets								38,812						81,844
Capital and reserves
Called up share capital		3			200						200
Profit and loss account					38,612						81,644
Shareholders' funds								38,812						81,844

For the year ending 30 November 2013 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 16 June 2014 and signed on its behalf by:

.........................................
Mr I Crowhurst
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

KDS & Associates Limited
Notes to the Abbreviated Accounts for the Period from 1 June 2012 to 30 November 2013
......... 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 April 2008).

Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future.

The validity of this assumption depends on the continued support from the company's director and other creditors. The financial statements do not include any adjustments that would result if such financial support were to be withdrawn.

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Depreciation

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

Asset class	Depreciation method and rate
Fixtures and Fittings	25% on cost
Computer Equipment	25% on cost

Fixed asset investments

All fixed assets are initially recorded at cost.

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.

Page 2

KDS & Associates Limited
Notes to the Abbreviated Accounts for the Period from 1 June 2012 to 30 November 2013
......... continued

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.

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.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 June 2012		105,603			105,603
Additions		5,109			5,109
At 30 November 2013		110,712			110,712
Depreciation
At 1 June 2012		102,306			102,306
Charge for the period		4,406			4,406
At 30 November 2013		106,712			106,712
Net book value
At 30 November 2013		4,000			4,000
At 31 May 2012		3,297			3,297

Page 3

KDS & Associates Limited
Notes to the Abbreviated Accounts for the Period from 1 June 2012 to 30 November 2013
......... continued

3	Share capital

Allotted, called up and fully paid shares

	30 November 2013						31 May 2012
		No.			£			No.			£
100 Ordinary Shares of £1 each		100			100			100			100
100 Ordinary Class B Shares of £1 each		100			100			100			100
		200			200			200			200

4

Control

The company is controlled by Mr I Crowhurst who is a director and owns 100% of the called up share capital.

Page 4