Company Registration No. 7527616 (England and Wales)
KING'S PSYCHOLOGY LIMITED
DIRECTOR'S REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2016
KING'S PSYCHOLOGY LIMITED
COMPANY INFORMATION
Director
M King
Company number
7527616
Registered office
5 Dugdale Court
753 Harrow Road
London
NW10 5BG
Accountants
LB FINANCIAL MANAGEMENT LTD
4th Floor
Clerks Well House
20 Britton Street
London
EC1M 5UA
KING'S PSYCHOLOGY LIMITED
CONTENTS
Page
Director's report
1
Accountants' report
2
Profit and loss account
3
Balance sheet
4
Notes to the financial statements
5 - 7
KING'S PSYCHOLOGY LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 28 FEBRUARY 2016
- 1 -
The director presents her report and financial statements for the year ended 28 February 2016.
Director
The following director has held office since 1 March 2015:
M King
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
On behalf of the board
M King
Director
17 November 2016
KING'S PSYCHOLOGY LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF KING'S PSYCHOLOGY LIMITED FOR THE YEAR ENDED 28 FEBRUARY 2016
- 2 -
As described on the balance sheet you are responsible for the preparation of the accounts for the year ended 28 February 2016, set out on pages 3 to 7 and you consider that the company is exempt from an audit. In accordance with your instructions, we have compiled these unaudited accounts in order to assist you to fulfil your statutory responsibilities from the accounting records and information and explanations supplied to us.
LB FINANCIAL MANAGEMENT LTD
17 November 2016
Accountants
4th Floor
Clerks Well House
20 Britton Street
London
EC1M 5UA
KING'S PSYCHOLOGY LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 28 FEBRUARY 2016
- 3 -
2016
2015
Notes
£
£
Turnover
27,610
27,110
Administrative expenses
(17,739)
(18,358)
Profit on ordinary activities before taxation
2
9,871
8,752
Tax on profit on ordinary activities
3
(1,974)
(1,733)
Profit for the year
9
7,897
7,019
KING'S PSYCHOLOGY LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2016
28 February 2016
- 4 -
2016
2015
Notes
£
£
£
£
Current assets
Debtors
6
4,982
4,945
Cash at bank and in hand
5,002
5,428
9,984
10,373
Creditors: amounts falling due within one year
7
(3,714)
(3,500)
Total assets less current liabilities
6,270
6,873
Capital and reserves
Called up share capital
8
1
1
Profit and loss account
9
6,269
6,872
Shareholder's funds
6,270
6,873
For the financial year ended 28 February 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 member has 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 her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and the Financial Reporting Standard for Smaller Entities (effective January 2015).
Approved by the Board for issue on 17 November 2016
M King
Director
Company Registration No. 7527616
KING'S PSYCHOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2016
- 5 -
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, derived from ordinary activities, net of VAT and trade discounts.
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:
Fixtures, fittings & equipment
100% Straight line
2
Operating profit
2016
2015
£
£
Operating profit is stated after charging:
Depreciation of tangible assets
1,054
-
3
Taxation
2016
2015
£
£
Domestic current year tax
U.K. corporation tax
1,974
1,733
Total current tax
1,974
1,733
4
Dividends
2016
2015
£
£
Ordinary interim paid
8,500
-
KING'S PSYCHOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2016
- 6 -
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2015
689
Additions
1,054
At 28 February 2016
1,743
Depreciation
At 1 March 2015
689
Charge for the year
1,054
At 28 February 2016
1,743
Net book value
At 28 February 2016
-
At 28 February 2015
-
6
Debtors
2016
2015
£
£
Other debtors
4,982
4,945
7
Creditors: amounts falling due within one year
2016
2015
£
£
Taxation and social security
1,974
1,733
Other creditors
1,740
1,767
3,714
3,500
8
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1 ordinary shares of £1 each
1
1
KING'S PSYCHOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2016
- 7 -
9
Statement of movements on profit and loss account
Profit and loss
account
£
Balance at 1 March 2015
6,872
Profit for the year
7,897
Dividends paid
(8,500)
Balance at 28 February 2016
6,269
10
Control
The ultimate controlling party is
the director M King, who received all the dividends.
KING'S PSYCHOLOGY LIMITED
DETAILED TRADING AND PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 28 FEBRUARY 2016
2016
2015
£
£
£
£
Turnover
Fees receivable
27,610
27,110
OVERHEAD EXPENDITURE
Staff training
199
-
Rent re licences and other
15,060
17,535
Insurance
80
108
Legal and prof fees - allowable
484
-
Accountancy
540
540
Bank charges
139
133
Sundry expenses - allowable
35
12
Subscriptions - allowable
148
30
Depreciation on FF & E
1,054
-
(17,739)
(18,358)
Operating profit
9,871
8,752
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