Company Registration No. 06491198 (England and Wales)
KINGS FAMILY HOMES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2014
KINGS FAMILY HOMES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
KINGS FAMILY HOMES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 SEPTEMBER 2014
30 September 2014
- 1 -
30 September
31 March
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
-
400,000
Current assets
Debtors
135,550
15,434
Cash at bank and in hand
4,603
8,367
140,153
23,801
Creditors: amounts falling due within one year
(211,162)
(220,837)
Net current liabilities
(71,009)
(197,036)
Total assets less current liabilities
(71,009)
202,964
Creditors: amounts falling due after more than one year
-
(275,267)
(71,009)
(72,303)
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
(71,109)
(72,403)
Shareholders' funds
(71,009)
(72,303)
For the financial Period ended 30 September 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the Period 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 13 April 2015
Miss H E King
Director
Company Registration No. 06491198
KINGS FAMILY HOMES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2014
- 2 -
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).
The company has a net liability position of £
71,009
at the balance sheet date. The Directors are confident that
they can continue to make available the necessary financial support to the company to meet its liabilities as they fall due. As a result, the directors consider it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the financial support.
1.2
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:
Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the director compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2013
400,000
Disposals
(400,000)
At 30 September 2014
-
At 31 March 2013
400,000
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100