KEMS GROUP LTD

		2016		2015
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	2		65,576		17,692

			65,576		17,692
CURRENT ASSETS
Stocks		270,053		30,500
Debtors		1,335,644		840,884
Cash at bank and in hand		1,518		37,846

		1,607,215		909,230
Creditors: Amounts Falling Due Within One Year	3	(1,178,937 )		(752,724 )

NET CURRENT ASSETS (LIABILITIES)			428,278		156,506

TOTAL ASSETS LESS CURRENT LIABILITIES			493,854		174,198

NET ASSETS			493,854		174,198

CAPITAL AND RESERVES
Called up share capital	4		100		100
Profit and Loss Account			493,754		174,098

SHAREHOLDERS' FUNDS			493,854		174,198

KEMS GROUP LTD

Company No. 08190476

Abbreviated Balance Sheet (continued) 31 March 2016

For the year ending 31 March 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 member has 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 abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2015).

On behalf of the board

Mr Raymond Kingsley

12 December 2016

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2. Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

1.3. 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 of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	15% reducing balance basis
Motor Vehicles	15% reducing balance basis
Fixtures & Fittings	15% reducing balance basis

1.4. Leasing and Hire Purchase Contracts

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

1.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of 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 is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2. Tangible Assets


	Total
Cost	£
As at 1 April 2015	25,620
Additions	59,456

As at 31 March 2016	85,076

Depreciation
As at 1 April 2015	7,928
Provided during the period	11,572

As at 31 March 2016	19,500

Net Book Value
As at 31 March 2016	65,576

As at 1 April 2015	17,692

Page 2

KEMS GROUP LTD

Notes to the Abbreviated Accounts (continued)

For The Year Ended 31 March 2016

3. Creditors: Amounts Falling Due Within One Year

	2016	2015
	£	£
Net obligations under finance lease and hire purchase contracts	1,249	1,249
Trade creditors	720,996	279,440
Bank loans and overdrafts	27,704	-
Corporation tax	108,162	45,810
Other taxes and social security	19,146	19,748
VAT	79,204	111,000
Accruals and deferred income	4,475	1,000
Director's loan account	201,323	43,744
Factoring loan	16,678	250,733

	1,178,937	752,724

4. Share Capital

	Value	Number	2016	2015
Allotted, called up and fully paid	£		£	£
Ordinary shares	1.000	100	100	100