Company Registration No. 01051524 (England and Wales)
A.B. KNIGHT (LONDON) LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2016
A.B. KNIGHT (LONDON) LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
A.B. KNIGHT (LONDON) LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
2,001
2,374
Current assets
Stocks
1,073,788
-
Debtors
22,672
18,630
Cash at bank and in hand
96,216
888,055
1,192,676
906,685
Creditors: amounts falling due within one year
(364,858)
(52,537)
Net current assets
827,818
854,148
Total assets less current liabilities
829,819
856,522
Capital and reserves
Called up share capital
3
100,000
100,000
Other reserves
10,487
10,487
Profit and loss account
719,332
746,035
Shareholders' funds
829,819
856,522
For the financial year ended 30 June 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 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 director acknowledges his 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 21 March 2017
Mr PT Saunders
Director
Company Registration No. 01051524
A.B. KNIGHT (LONDON) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 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).
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
25% reducing balance method
Fixtures, fittings & equipment
15% reducing balance method
2
Fixed assets
Tangible assets
£
Cost
At 1 July 2015 & at 30 June 2016
6,272
Depreciation
At 1 July 2015
3,897
Charge for the year
374
At 30 June 2016
4,271
Net book value
At 30 June 2016
2,001
At 30 June 2015
2,374
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100,000 Ordinary shares of £1 each
100,000
100,000
A.B. KNIGHT (LONDON) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2016
- 3 -
4
Ultimate parent company
The ultimate controlling party is Paul Saunders,a director of the company and by virtue of his interests in the parent company A B Knight Holdings Limited.