Company Registration No. 04654281 (England and Wales)
MICROKERF LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2015
MICROKERF LIMITED
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2
Notes to the abbreviated accounts
3 - 4
MICROKERF LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MICROKERF LIMITED FOR THE YEAR ENDED 31 JANUARY 2015
- 1 -
The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 have been prepared.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Microkerf Limited for the year ended 31 January 2015 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
This report is made solely to the Board of Directors of Microkerf Limited, as a body, in accordance with the terms of our engagement letter dated 9 December 2015. Our work has been undertaken solely to prepare for your approval the financial statements of Microkerf Limited and state those matters that we have agreed to state to the Board of Directors of Microkerf Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Microkerf Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Microkerf Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Microkerf Limited. You consider that Microkerf Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Microkerf Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Clear & Lane Limited
Chartered Accountants
340 Melton Road
Leicester
LE4 7SL
6 January 2016
MICROKERF LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JANUARY 2015
31 January 2015
- 2 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,094,137
700,978
Current assets
Stocks
40,849
43,580
Debtors
520,399
410,430
Cash at bank and in hand
1,105,370
938,548
1,666,618
1,392,558
Creditors: amounts falling due within one year
(1,025,597)
(702,931)
Net current assets
641,021
689,627
Total assets less current liabilities
1,735,158
1,390,605
Provisions for liabilities
(38,900)
(50,400)
1,696,258
1,340,205
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
1,696,158
1,340,105
Shareholders' funds
1,696,258
1,340,205
For the financial year ended 31 January 2015 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 6 January 2016
Mr D J Gattward
Director
Company Registration No. 04654281
MICROKERF LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2015
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1
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 April 2008).
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. Revenue is recognised when goods are despatched.
Revenue is recognised when goods are despatched.
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:
Land and buildings Leasehold
10% straight line
Plant and machinery
15% straight line
Fixtures, fittings & equipment
33.33% straight line
Motor vehicles
25% reducing balance
1.5
Deferred taxation
Deferred taxation is recognised in respect of all material timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
1.6
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
MICROKERF LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2015
- 4 -
2
Fixed assets
Tangible assets
£
Cost
At 1 February 2014
1,593,740
Additions
548,354
Disposals
(6,000)
At 31 January 2015
2,136,094
Depreciation
At 1 February 2014
892,762
On disposals
(5,400)
Charge for the year
154,595
At 31 January 2015
1,041,957
Net book value
At 31 January 2015
1,094,137
At 31 January 2014
700,978
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100
100
4
Ultimate parent company
The ultimate parent company is Beaumanor Holdings Limited which owns 100% of the issued share capital.