Company Registration No. 06899287 (England and Wales)
Kirkby Blinds (Direct) Ltd
Unaudited accounts
for the year ended 31 May 2018
Kirkby Blinds (Direct) Ltd
Unaudited accounts
Contents
Kirkby Blinds (Direct) Ltd
Company Information
for the year ended 31 May 2018
Company Number
06899287 (England and Wales)
Registered Office
Unit 1 Cornhill Works
Knowsley Industrial Park
Liverpool
L33 7UH
Accountants
French & Co
166 Linacre Road
Litherland
Liverpool
Merseyside
L21 8JU
Kirkby Blinds (Direct) Ltd
Statement of financial position
as at
31 May 2018
Tangible assets
7,504
8,847
Inventories
55,000
50,000
Cash at bank and in hand
4,742
19,838
Creditors: amounts falling due within one year
(21,885)
(30,934)
Net current assets
44,450
43,001
Total assets less current liabilities
51,954
51,848
Creditors: amounts falling due after more than one year
(50,000)
(50,000)
Called up share capital
100
100
Profit and loss account
1,854
1,748
Shareholders' funds
1,954
1,848
For the year ending 31 May 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 26 February 2019.
Mr K Brand
Director
Company Registration No. 06899287
Kirkby Blinds (Direct) Ltd
Notes to the Accounts
for the year ended 31 May 2018
Kirkby Blinds (Direct) Ltd is a private company, limited by shares, registered in England and Wales, registration number 06899287. The registered office is Unit 1 Cornhill Works, Knowsley Industrial Park, Liverpool, L33 7UH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on cost
Motor vehicles
20% on cost
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Kirkby Blinds (Direct) Ltd
Notes to the Accounts
for the year ended 31 May 2018
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 June 2017
10,400
19,574
29,974
At 31 May 2018
10,897
19,574
30,471
At 1 June 2017
10,399
10,728
21,127
Charge for the year
124
1,716
1,840
At 31 May 2018
10,523
12,444
22,967
At 31 May 2018
374
7,130
7,504
At 31 May 2017
1
8,846
8,847
Raw materials
55,000
50,000
Trade debtors
5,000
1,000
Accrued income and prepayments
1,593
3,097
7
Creditors: amounts falling due within one year
2018
2017
Bank loans and overdrafts
-
7,236
Taxes and social security
15,355
11,356
Loans from directors
3,655
10,661
8
Creditors: amounts falling due after more than one year
2018
2017
Other creditors
50,000
50,000
9
Average number of employees
During the year the average number of employees was 11 (2017: 11).