REGISTERED NUMBER: 03505899 (England and Wales)

Financial Statements for the Year Ended 28 February 2017

for

KJM Systems Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

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

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 2017 and were signed by:

D Ross - Director

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 .

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.