KADYTHATA UK LIMITED Company accounts

KADYTHATA UK LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09430358

KADYTHATA UK LIMITED

Unaudited Financial Statements

31 December 2018

KADYTHATA UK LIMITED

Financial Statements

Year ended 31 December 2018

Contents	Page

Director's report	1

Income statement	2

Statement of financial position	3

Statement of changes in equity	4

Notes to the financial statements	5

KADYTHATA UK LIMITED

Director's Report

Year ended 31 December 2018

The director presents his report and the unaudited financial statements of the company for the year ended 31 December 2018 .

Principal activities

The principal activity of the company during the year was making and holding of investments.

Director

The director who served the company during the year was as follows:

Mr Christophoros Demetriades

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 10 April 2019 and signed on behalf of the board by:

Mr Christophoros Demetriades	Fiduci-Corp (UK) Services Limited
Director	Company Secretary

KADYTHATA UK LIMITED

Income Statement

Year ended 31 December 2018

	2018	2017
Note	€	€

Administrative expenses	179,835	( 654,265)
	---------	---------
Operating profit/(loss)	179,835	( 654,265)

Income from other fixed asset investments	( 613,481)	622,215
Other interest receivable and similar income	188,773	271,320
Interest payable and similar expenses	( 94,170)	–
	---------	---------
(Loss)/profit before taxation	( 339,043)	239,270

Tax on (loss)/profit	4	–	( 46,051)
		---------	---------
(Loss)/profit for the financial year		( 339,043)	193,219
		---------	---------

All the activities of the company are from continuing operations.

The company has no other recognised items of income and expenses other than the results for the year as set out above.

KADYTHATA UK LIMITED

Statement of Financial Position

31 December 2018

	2018		2017
Note	€	€	€

Current assets

Debtors	5	757,989	256
Investments	6	14,884,228	14,813,124
Cash at bank and in hand		10,995,369	12,588,039
		-------------	-------------
		26,637,586	27,401,419

Creditors: amounts falling due within one year	7	5,220		230,010
		-------------		-------------
Net current assets			26,632,366	27,171,409
			-------------	-------------
Total assets less current liabilities			26,632,366	27,171,409
			-------------	-------------
Net assets			26,632,366	27,171,409
			-------------	-------------

Capital and reserves

Called up share capital	8	3,350	3,350
Share premium account	9	26,598,000	26,598,000
Profit and loss account	9	31,016	570,059
		-------------	-------------
Shareholders funds		26,632,366	27,171,409
		-------------	-------------

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 December 2018 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 financial statements were approved by the board of directors and authorised for issue on 10 April 2019 , and are signed on behalf of the board by:

Mr Christophoros Demetriades
Director

Company registration number: 09430358

KADYTHATA UK LIMITED

Statement of Changes in Equity

Year ended 31 December 2018

	Called up share capital	Share premium account	Profit and loss account	Total
	€	€	€	€
At 1 January 2017	–	26,598,000	376,840	26,974,840

Profit for the year			193,219	193,219
	----	-------------	---------	-------------
Total comprehensive income for the year	–	–	193,219	193,219

Issue of shares	3,350	–	–	3,350
	-------	-------------	---------	-------------
Total investments by and distributions to owners	3,350	–	–	3,350

At 31 December 2017	3,350	26,598,000	570,059	27,171,409

Loss for the year			( 339,043)	( 339,043)
	-------	-------------	---------	-------------
Total comprehensive income for the year	–	–	( 339,043)	( 339,043)

Dividends paid and payable	–	–	( 200,000)	( 200,000)
	----	----	---------	---------
Total investments by and distributions to owners	–	–	( 200,000)	( 200,000)

	-------	-------------	---------	-------------
At 31 December 2018	3,350	26,598,000	31,016	26,632,366
	-------	-------------	---------	-------------

KADYTHATA UK LIMITED

Notes to the Financial Statements

Year ended 31 December 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 St Geroges House, 6th floor, 15 Hanover Square, London, W1S 1HS, United Kingdom.

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 euro, which is the functional currency of the entity.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Tax on (loss)/profit

Major components of tax expense

	2018	2017
	€	€

Current tax:

UK current tax expense	–	46,051
	----	--------
Tax on (loss)/profit	–	46,051
	----	--------

5. Debtors

	2018	2017
	€	€
Prepayments and accrued income	256	256
Shareholder account	757,733	–
	---------	----
	757,989	256
	---------	----

6. Investments

	2018	2017
	€	€
Portfolio account	14,884,228	14,813,124
	-------------	-------------

7. Creditors: amounts falling due within one year

	2018	2017
	€	€
Trade creditors	1,620	1,620
Accruals and deferred income	3,600	3,600
Corporation tax	–	46,051
Other creditors	–	178,739
	-------	---------
	5,220	230,010
	-------	---------

8. Called up share capital

Issued, called up and fully paid

	2018		2017
	No.	€	No.	€
Ordinary shares of € 1.116666 each	3,000	3,350	3,000	3,350
	-------	-------	-------	-------

9. Reserves

Share premium account - This reserve records the amount above the nominal value received for shares sold, less transaction costs. Profit and loss account - This reserve records retained earnings and accumulated losses .

10. Related party transactions

The company was under the control of Quespal Limited throughout the current year. Quespal Limited is the sole shareholder.