AG Kakouris Ltd
Registered number: 05091700
Balance Sheet
as at 28 February 2017
Notes 2017 2016
£ £
Fixed assets
Intangible assets 2 178,476 200,844
Tangible assets 3 9,868 12,557
Investments 4 703 -
189,047 213,401
Current assets
Debtors 5 1,124,972 1,034,046
Cash at bank and in hand 57,474 472,584
1,182,446 1,506,630
Creditors: amounts falling due within one year 6 (163,011) (285,475)
Net current assets 1,019,435 1,221,155
Net assets 1,208,482 1,434,556
Capital and reserves
Called up share capital 115 115
Profit and loss account 1,208,367 1,434,441
Shareholders' funds 1,208,482 1,434,556
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A G Kakouris
Director
Approved by the board on 30 November 2017
AG Kakouris Ltd
Notes to the Accounts
for the year ended 28 February 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 25% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Intangible fixed assets £
Goodwill:
Cost
At 1 March 2016 447,365
At 28 February 2017 447,365
Amortisation
At 1 March 2016 246,521
Provided during the year 22,368
At 28 February 2017 268,889
Net book value
At 28 February 2017 178,476
At 29 February 2016 200,844
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2016 113,614
Additions 601
At 28 February 2017 114,215
Depreciation
At 1 March 2016 101,057
Charge for the year 3,290
At 28 February 2017 104,347
Net book value
At 28 February 2017 9,868
At 29 February 2016 12,557
4 Investments
Other
investments
£
Cost
Additions 703
At 28 February 2017 703
5 Debtors 2017 2016
£ £
Trade debtors 649,826 1,018,223
Other debtors 475,146 15,823
1,124,972 1,034,046
6 Creditors: amounts falling due within one year 2017 2016
£ £
Trade creditors - 1,408
Corporation tax - 135,932
Other taxes and social security costs 143,422 127,540
Other creditors 19,589 20,595
163,011 285,475
7 Other information
AG Kakouris Ltd is a private company limited by shares and incorporated in England. Its registered office is:
1 Kings Avenue
London
N21 3NA
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