KAASS (DENHAM) LIMITED Company accounts

KAASS (DENHAM) LIMITED Company accounts

KAASS (DENHAM) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 08719291
KAASS (DENHAM) LIMITED
Unaudited Financial Statements
31 October 2018
KAASS (DENHAM) LIMITED
Financial Statements
Year ended 31 October 2018
Contents
Page
Directors' report
1
Statement of income and retained earnings
2
Statement of financial position
3
Notes to the financial statements
5
The following pages do not form part of the financial statements
Chartered accountants & registered auditors report to the board of directors on the preparation of the unaudited statutory financial statements
9
KAASS (DENHAM) LIMITED
Directors' Report
Year ended 31 October 2018
The directors present their report and the unaudited financial statements of the company for the year ended 31 October 2018 .
Directors
The directors who served the company during the year were as follows:
Mrs A Saujani
Mrs C C Joisher
Mrs S Doshi
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 20 March 2019 and signed on behalf of the board by:
Mrs C C Joisher
Director
Registered office:
3rd Floor Vyman House
104 College Road
Harrow
HA1 1BQ
KAASS (DENHAM) LIMITED
Statement of Income and Retained Earnings
Year ended 31 October 2018
2018
2017
Note
£
£
Administrative expenses
1,265
3,325
-------
-------
Operating loss
( 1,265)
( 3,325)
-------
-------
Loss before taxation
( 1,265)
( 3,325)
Tax on loss
–
–
-------
-------
Loss for the financial year and total comprehensive income
( 1,265)
( 3,325)
-------
-------
Retained losses at the start of the year
( 9,963)
( 6,638)
--------
-------
Retained losses at the end of the year
( 11,228)
( 9,963)
--------
-------
All the activities of the company are from continuing operations.
KAASS (DENHAM) LIMITED
Statement of Financial Position
31 October 2018
2018
2017
Note
£
£
£
Fixed assets
Tangible assets
4
429,127
429,127
Current assets
Stocks
61,692
45,016
Cash at bank and in hand
150
150
--------
--------
61,842
45,166
Creditors: amounts falling due within one year
5
72,047
54,106
--------
--------
Net current liabilities
10,205
8,940
---------
---------
Total assets less current liabilities
418,922
420,187
Creditors: amounts falling due after more than one year
6
430,000
430,000
---------
---------
Net liabilities
( 11,078)
( 9,813)
---------
---------
Capital and reserves
Called up share capital
150
150
Profit and loss account
( 11,228)
( 9,963)
--------
-------
Shareholders deficit
( 11,078)
( 9,813)
--------
-------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 October 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
KAASS (DENHAM) LIMITED
Statement of Financial Position (continued)
31 October 2018
These financial statements were approved by the board of directors and authorised for issue on 20 March 2019 , and are signed on behalf of the board by:
Mrs C C Joisher
Director
Company registration number: 08719291
KAASS (DENHAM) LIMITED
Notes to the Financial Statements
Year ended 31 October 2018
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3rd Floor Vyman House, 104 College Road, Harrow, HA1 1BQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
The financial statements has been prepared on a going concern basis.The company is dependent on the continued support of its shareholders. The directors are satisfied that at the time of approval of these financial statements the company will continue in existence for the foreseeable future.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. Compound instruments Compound instruments comprise both a liability and an equity component. At date of issue, the fair value of the liability component is estimated using the prevailing market interest rate for a similar debt instrument. The liability component is accounted for as a financial liability. The residual is the difference between the net proceeds of issue and the liability component (at time of issue). The residual is the equity component, which is accounted for as an equity instrument. The interest expense on the liability component is calculated applying the effective interest rate for the liability component of the instrument. The difference between this amount and any repayments is added to the carrying amount of the liability in the balance sheet.
4. Tangible assets
Land and buildings
£
Cost
At 1 November 2017 and 31 October 2018
429,127
---------
Depreciation
At 1 November 2017 and 31 October 2018
–
---------
Carrying amount
At 31 October 2018
429,127
---------
At 31 October 2017
429,127
---------
5. Creditors: amounts falling due within one year
2018
2017
£
£
Other creditors
72,047
54,106
--------
--------
6. Creditors: amounts falling due after more than one year
2018
2017
£
£
Other creditors
430,000
430,000
---------
---------
7. Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.
KAASS (DENHAM) LIMITED
Management Information
Year ended 31 October 2018
The following pages do not form part of the financial statements.
KAASS (DENHAM) LIMITED
Chartered Accountants & Registered Auditors Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of KAASS (DENHAM) LIMITED
Year ended 31 October 2018
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 October 2018, which comprise the statement of income and retained earnings, statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
RMR PARTNERSHIP LLP Chartered Accountants & Registered Auditors
3rd Floor, Vyman House 104 College Road Harrow Middlesex HA1 1BQ
20 March 2019