Company Registration No. 01937236 (England and Wales)
NKD ENTERPRISE LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016
NKD ENTERPRISE LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
NKD ENTERPRISE LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 SEPTEMBER 2016
30 September 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
42,422
68,794
Tangible assets
2
3,959,574
3,935,826
4,001,996
4,004,620
Current assets
Stocks
78,458
112,378
Debtors
15,707
26,717
Cash at bank and in hand
139,754
69,685
233,919
208,780
Creditors: amounts falling due within one year
(52,972)
(259,108)
Net current assets/(liabilities)
180,947
(50,328)
Total assets less current liabilities
4,182,943
3,954,292
Creditors: amounts falling due after more than one year
(2,100,000)
(1,759,300)
Provisions for liabilities
(11,863)
(14,707)
2,071,080
2,180,285
Capital and reserves
Called up share capital
3
100
100
Share premium account
15,162
15,162
Revaluation reserve
1,683,696
1,683,696
Profit and loss account
372,122
481,327
Shareholders' funds
2,071,080
2,180,285
NKD ENTERPRISE LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2016
30 September 2016
- 2 -
For the financial year ended 30 September 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their 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 23 June 2017
Mr D D Patel
Mr K D Patel
Director
Director
Company Registration No. 01937236
NKD ENTERPRISE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings 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
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.5
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Freehold
2 % fixed on cost.
Land and buildings Leasehold
Straight line over 15 years
Computer equipment
25 % reducing balance
Fixtures, fittings & equipment
15% on reducing balance
Motor vehicles
25% reducing balance
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve
.
1.6
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.7
Stock
Stock is valued at the lower of cost and net realisable value.
1.8
Pensions
The company operates a defined contribution pension scheme. Contribution payable to the company's pension scheme are charges to the profit and loss account in the period to which they relate.
1.9
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
NKD ENTERPRISE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2016
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost or valuation
At 1 October 2015
466,196
4,441,257
4,907,453
Additions
-
51,487
51,487
Disposals
(148,396)
(35,000)
(183,396)
At 30 September 2016
317,800
4,457,744
4,775,544
Depreciation
At 1 October 2015
397,402
505,430
902,832
On disposals
(103,880)
(28,639)
(132,519)
Charge for the year
(18,144)
21,379
3,235
At 30 September 2016
275,378
498,170
773,548
Net book value
At 30 September 2016
42,422
3,959,574
4,001,996
At 30 September 2015
68,794
3,935,826
4,004,620
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary Shares of £1 each
100
100