Company Registration No. 07441605 (England and Wales)
KNOTT HILL FARM LIVERY STABLES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2016
Sherlock & Co Limited
Chartered Accountants
KNOTT HILL FARM LIVERY STABLES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
KNOTT HILL FARM LIVERY STABLES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 NOVEMBER 2016
30 November 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
24,333
27,440
Current assets
Stocks
1,600
1,500
Debtors
758
2,691
Cash at bank and in hand
14,269
19,247
16,627
23,438
Creditors: amounts falling due within one year
(86,513)
(91,329)
Net current liabilities
(69,886)
(67,891)
Total assets less current liabilities
(45,553)
(40,451)
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
(45,653)
(40,551)
Shareholders' funds
(45,553)
(40,451)
For the financial year ended 30 November 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their 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 15 August 2017
I Baugh
T Baugh
Director
Director
Company Registration No. 07441605
KNOTT HILL FARM LIVERY STABLES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 NOVEMBER 2016
- 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 January 2015).
These financial statements have been prepared on a going concern basis. The company will, if required, be funded by the Directors who have signified their willingness to support the company, as necessary, and therefore consider that the going concern basis is appropriate.
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.
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:
Plant and machinery
15% reducing balance
Fixtures, fittings & equipment
15% reducing balance
Motor vehicles
25% reducing balance
1.5
Stock
Stock is valued at the lower of cost and net realisable value.
2
Fixed assets
Tangible assets
£
Cost
At 1 December 2015
60,664
Additions
1,560
At 30 November 2016
62,224
Depreciation
At 1 December 2015
23,042
Charge for the year
14,849
At 30 November 2016
37,891
Net book value
At 30 November 2016
24,333
At 30 November 2015
27,440
KNOTT HILL FARM LIVERY STABLES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100
100