A & J Keane Limited - Period Ending 2016-04-30

A & J Keane Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2016

A & J Keane Limited
Contents

Page

Abbreviated Balance Sheet

1 to 2

Notes to the Abbreviated Accounts

3 to 4

A & J Keane Limited
balance sheet as at 30 April 2016

	Note	2016 £	2015 £
Fixed assets
Tangible fixed assets		119,005	124,587
Current assets
Stocks		9,367	10,109
Debtors		11,349	11,330
Cash at bank and in hand		7,058	8,922
		27,774	30,361
Creditors: Amounts falling due within one year		(226,171)	(214,475)
Net current liabilities		(198,397)	(184,114)
Total assets less current liabilities		(79,392)	(59,527)
Creditors: Amounts falling due after more than one year		-	(10,534)
Total net liabilities		(79,392)	(70,061)
Capital and reserves
Called up share capital	3	2	2
Profit and loss account		(79,394)	(70,063)
Shareholders' deficit		(79,392)	(70,061)

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

A & J Keane Limited
balance sheet as at 30 April 2016
......... continued

For the year ending 30 April 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 24 January 2017 and signed on its behalf by:

.........................................
Mr A J Keane
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

A & J Keane Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Going concern

At the balance sheet date the company had net current liabilities of £198,397 and net liabilities of £79,392. However, included in creditors is a directors loan of £92,377, which the directors have indicated will not be substantially withdrawn within the next twelve months. The directors believe that with their continued support it is appropriate to prepare the accounts on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures, fittings and equipment	15% on reducing balance
Motor vehicles	20% on reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 3

A & J Keane Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016
......... continued

2	Fixed assets

	Tangible assets £	Total £
Cost
At 1 May 2015	161,670	161,670
At 30 April 2016	161,670	161,670
Depreciation
At 1 May 2015	37,083	37,083
Charge for the year	5,582	5,582
At 30 April 2016	42,665	42,665
Net book value
At 30 April 2016	119,005	119,005
At 30 April 2015	124,587	124,587

3	Share capital

Allotted, called up and fully paid shares

	2016			2015
		No.	£		No.	£
Ordinary shares of £1 each		2	2		2	2

Page 4