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Abbreviated Unaudited Accounts for the Year Ended 31 January 2016 |
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KMS Pipe Fitting & Fabrication Limited |
REGISTERED NUMBER:
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Abbreviated Unaudited Accounts for the Year Ended 31 January 2016 |
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for |
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KMS Pipe Fitting & Fabrication Limited |
KMS Pipe Fitting & Fabrication Limited (Registered number: 05339332) |
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Contents of the Abbreviated Accounts |
for the Year Ended 31 January 2016 |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 3 |
KMS Pipe Fitting & Fabrication Limited |
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Company Information |
for the Year Ended 31 January 2016 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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KMS Pipe Fitting & Fabrication Limited (Registered number: 05339332) |
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Abbreviated Balance Sheet |
31 January 2016 |
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31.1.16 | 31.1.15 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | ( |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 3 |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their 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. |
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The financial statements were approved by the Board of Directors on
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KMS Pipe Fitting & Fabrication Limited (Registered number: 05339332) |
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Notes to the Abbreviated Accounts |
for the Year Ended 31 January 2016 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with the |
Financial Reporting Standard for Smaller Entities (effective January 2015). |
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Turnover |
Turnover represents net invoiced sale of goods, excluding value added tax and trade discounts and returns |
deriving from ordinary activities. Income is recognised when the sufficient risks and rewards of ownership of the |
goods have been transferred to the buyer, and the right to receive consideration has arisen. |
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Tangible fixed assets |
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Improvements to property | - |
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Plant and machinery | - |
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Computer equipment | - |
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Stocks |
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 items. |
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Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences between the treatment of certain items for taxation |
and accounting purposes. The differences that have originated but not reversed at the balance sheet date and |
measured at the rate expected to apply in future periods upon reversal. Deferred tax liabilities are not discounted. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
period of the lease. |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 February 2015 |
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Additions |
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At 31 January 2016 |
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DEPRECIATION |
At 1 February 2015 |
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Charge for year |
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At 31 January 2016 |
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NET BOOK VALUE |
At 31 January 2016 |
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At 31 January 2015 |
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KMS Pipe Fitting & Fabrication Limited (Registered number: 05339332) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 January 2016 |
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3. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.1.16 | 31.1.15 |
value: | £ | £ |
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Ordinary | £1 |
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4. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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At the year ended 31 January 2016 the directors owed the company £17,315 (2015 - £25,468). All amounts were |
interest free and repayable on demand. |