Registration number:
L & K Electrical Services Ltd
for the Year Ended 30 September 2016
2 Drake House
Cook Way
Taunton
Somerset
TA2 6BJ
L & K Electrical Services Ltd
Company Information
Director |
Mr Kevin Alan Lennox |
Company secretary |
Mrs Lynne Ruth Lennox |
Registered office |
|
Accountants |
|
Page 1 |
L & K Electrical Services Ltd
Director's Report for the Year Ended 30 September 2016
The director presents his report and the financial statements for the year ended 30 September 2016.
Director of the company
The director who held office during the year was as follows:
Principal activity
The principal activity of the company is that of electrical installation.
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved by the Board on
.........................................
Mr Kevin Alan Lennox
Director
Page 2 |
Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
L & K Electrical Services Ltd
for the Year Ended 30 September 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of L & K Electrical Services Ltd for the year ended 30 September 2016 as set out on pages 4 to 8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of L & K Electrical Services Ltd, as a body. Our work has been undertaken solely to prepare for your approval the accounts of L & K Electrical Services Ltd and state those matters that we have agreed to state to the Board of Directors of L & K Electrical Services Ltd, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than L & K Electrical Services Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that L & K Electrical Services Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of L & K Electrical Services Ltd. You consider that L & K Electrical Services Ltd 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 accounts of L & K Electrical Services Ltd.
......................................
Cook Way
Taunton
Somerset
TA2 6BJ
Page 3 |
L & K Electrical Services Ltd
(Registration number: 04941123)
Balance Sheet as at 30 September 2016
Note |
2016 |
2015 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Profit and loss account |
|
|
|
Total equity |
|
|
For the financial year ending 30 September 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
|
• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Mr Kevin Alan Lennox
Director
Page 4 |
L & K Electrical Services Ltd
Notes to the Financial Statements for the Year Ended 30 September 2016
General information |
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Page 5 |
L & K Electrical Services Ltd
Notes to the Financial Statements for the Year Ended 30 September 2016
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Page 6 |
L & K Electrical Services Ltd
Notes to the Financial Statements for the Year Ended 30 September 2016
Tangible assets |
Motor vehicles |
Other property, plant and equipment |
Total |
|
Cost or valuation |
|||
At 1 October 2015 |
|
|
|
Additions |
|
|
|
Disposals |
( |
( |
( |
At 30 September 2016 |
|
|
|
Depreciation |
|||
At 1 October 2015 |
|
|
|
Charge for the year |
|
|
|
Eliminated on disposal |
( |
- |
( |
At 30 September 2016 |
|
|
|
Carrying amount |
|||
At 30 September 2016 |
|
|
|
At 30 September 2015 |
|
|
|
Debtors |
2016 |
2015 |
|
Trade debtors |
- |
|
Other debtors |
|
|
Total current trade and other debtors |
|
|
Creditors |
Note |
2016 |
2015 |
|
Due within one year |
|||
Bank loans and overdrafts |
- |
|
|
Trade creditors |
|
|
|
Taxation and social security |
|
|
|
Other creditors |
|
|
|
|
|
Page 7 |
L & K Electrical Services Ltd
Notes to the Financial Statements for the Year Ended 30 September 2016
Loans and borrowings |
2016 |
2015 |
|
Current loans and borrowings |
||
Finance lease liabilities |
- |
|
Dividends |
Final dividends paid
2016 |
2015 |
|
Final dividend of £
|
|
|
Page 8 |