REGISTERED NUMBER: 06328281 (England and Wales)

AC & KC LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2017

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs A Cornwell

SECRETARY:

Mrs E Smith

REGISTERED OFFICE:

Brides Gallery

Heskin Barns, Heskin Hall Estates

Wood Lane, Heskin

Chorley

Lancashire

PR7 5PA

REGISTERED NUMBER:

06328281 (England and Wales)

ACCOUNTANTS:

Rushtons

Chartered Accountants

Avroe House

Avroe Crescent

Blackpool Business Park

Blackpool

Lancashire

FY4 2DP

FIXED ASSETS

Intangible assets

4

68,216

71,806

Tangible assets

5

3,328

3,739

71,544

75,545

CURRENT ASSETS

Stocks

92,093

83,623

Debtors

556

553

Cash in hand

521

535

93,170

84,711

CREDITORS

Amounts falling due within one year

167,949

165,556

NET CURRENT LIABILITIES

(74,779

)

(80,845

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,235

)

(5,300

)

PROVISIONS FOR LIABILITIES

261

-

NET LIABILITIES

(3,496

)

(5,300

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(3,498

)

(5,302

)

SHAREHOLDERS' FUNDS

(3,496

)

(5,300

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 September 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 1 May 2018 and were signed by:

Mrs A Cornwell - Director

1.	STATUTORY INFORMATION

AC & KC Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

This is the first year in which the financial statements have been prepared under FRS102

Section 1A, there are no transitional adjustments. The financial statements are prepared in

sterling, which is the functional currency of the company. Monetary amounts in these

financial statements are rounded to the nearest £.

At the balance sheet date the Company was insolvent. Included in creditors is an amount of

£71,899 (2016 £82,810) owed to the Director who has stated that she will continue to

support the Company. The Director therefore considers the accounts should be prepared on

a going concern basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment

losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income

Statement, except to the extent that it relates to items recognised in other comprehensive

income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that

have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in

periods different from those in which they are recognised in financial statements. Deferred

tax is measured using tax rates and laws that have been enacted or substantively enacted

by the year end and that are expected to apply to the reversal of the timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 October 2016

and 30 September 2017

71,806

AMORTISATION

Amortisation for year

3,590

At 30 September 2017

3,590

NET BOOK VALUE

At 30 September 2017

68,216

At 30 September 2016

71,806

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 October 2016

and 30 September 2017

6,245

DEPRECIATION

At 1 October 2016

2,506

Charge for year

411

At 30 September 2017

2,917

NET BOOK VALUE

At 30 September 2017

3,328

At 30 September 2016

3,739

6.	ULTIMATE CONTROLLING PARTY

The controlling party is Mrs A Cornwell.