Registered Number 07007824
KIRK PROCESS SOLUTIONS LIMITED
Abbreviated Accounts
30 April 2015
Notes | 2015 | 2014 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
( |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Turnover represents the invoiced amounts of goods and services provided net of Value Added Tax
Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives.
Fixtures & Fittings 25% Per Annum Straight Line Method.
Valuation information and policy
Stocks are valued at the lower cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Work in Progress
Work in Progress is valued at its sale value of work done but un-invoiced at the Balance Sheet date.
Other accounting policies
Provision is made for taxation deferred as a result of material timing differences between the incidence of income and expenditure for taxation and accounts purposes, using the liability method.
Movement in Foreign Exchange
Where foreign currency receipts and payments are made throughout the year these are converted to Sterling at the date the transaction occurred. The exchange loss or gain is written off to Profit & Loss at that date.
Where foreign assets/liabilities are held at the year end these are converted to Sterling at the year end date. The exchange loss or gain is written off to Profit & Loss.
Research & Development & Tooling Costs
Where Research & Development and Tooling costs are incurred these are written off to Profit & Loss in the year in which it is incurred.
£ | |
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Cost | |
At 1 May 2014 |
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Additions |
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Disposals |
( |
Revaluations |
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Transfers |
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At 30 April 2015 |
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Depreciation | |
At 1 May 2014 |
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Charge for the year |
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On disposals |
( |
At 30 April 2015 |
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Net book values | |
At 30 April 2015 | 0 |
At 30 April 2014 | 585 |