Amit K Ltd Company accounts

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COMPANY REGISTRATION NUMBER: 07134495

Amit K Ltd

Unaudited Financial Statements

31 December 2018

Amit K Ltd

Financial Statements

Year ended 31 December 2018

Contents	Page

Officers and professional advisers	1

Directors' report	2

Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements	3

Statement of income and retained earnings	4

Statement of financial position	5

Notes to the financial statements	7

Amit K Ltd

Officers and Professional Advisers

The board of directors	T Keinan
	A Keinan

Registered office	Hallswelle House
	1 Hallswelle Road
	London
	UK
	NW11 0DH

Accountants	GK & Co. LLP
	Chartered accountants
	Hallswelle House
	1 Hallswelle Road
	London
	NW11 0DH

Amit K Ltd

Directors' Report

Year ended 31 December 2018

The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2018 .

Directors

The directors who served the company during the year were as follows:

T Keinan
A Keinan

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 7 October 2019 and signed on behalf of the board by:

A Keinan

Director

Registered office:

Hallswelle House

1 Hallswelle Road

London

NW11 0DH

Amit K Ltd

Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Amit K Ltd

Year ended 31 December 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Amit K Ltd for the year ended 31 December 2018, which comprise the statement of income and retained earnings, statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Amit K Ltd, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Amit K Ltd and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Amit K Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Amit K Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Amit K Ltd. You consider that Amit K Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Amit K Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

GK & Co. LLP Chartered accountants

Hallswelle House 1 Hallswelle Road London NW11 0DH

7 October 2019

Amit K Ltd

Statement of Income and Retained Earnings

Year ended 31 December 2018

	2018	2017
Note	£	£

Administrative expenses	635	312
	----	----
Operating loss	( 635)	( 312)

Income from shares in group undertakings	120,000	120,000
	---------	---------
Profit before taxation	119,365	119,688

Tax on profit	–	–
	---------	---------
Profit for the financial year and total comprehensive income	119,365	119,688
	---------	---------

Dividends paid and payable	( 120,000)	( 120,000)

Retained losses at the start of the year	( 24,156)	( 23,844)
	---------	---------
Retained losses at the end of the year	( 24,791)	( 24,156)
	---------	---------

All the activities of the company are from continuing operations.

Amit K Ltd

Statement of Financial Position

31 December 2018

	2018		2017
Note	£	£	£

Fixed assets

Investments	4		3,189,155	3,189,155

Current assets

Debtors	5	186,701	186,701
Cash at bank and in hand		3,639	4,274
		---------	---------
		190,340	190,975

Creditors: amounts falling due within one year	6	2,365,348		2,217,071
		------------		------------
Net current liabilities			2,175,008	2,026,096
			------------	------------
Total assets less current liabilities			1,014,147	1,163,059

Creditors: amounts falling due after more than one year	7	1,037,938	1,186,215
		------------	------------
Net liabilities		( 23,791)	( 23,156)
		------------	------------

Capital and reserves

Called up share capital	1,000	1,000
Profit and loss account	( 24,791)	( 24,156)
	--------	--------
Shareholders deficit	( 23,791)	( 23,156)
	--------	--------

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.

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 .

Amit K Ltd

Statement of Financial Position (continued)

31 December 2018

These financial statements were approved by the board of directors and authorised for issue on 7 October 2019 , and are signed on behalf of the board by:

A Keinan

Director

Company registration number: 07134495

Amit K Ltd

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 Hallswelle House, 1 Hallswelle Road, London, NW11 0DH, UK.

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.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of (enter name of group financial statements) which can be obtained from (enter detail). As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented. (d) Disclosures in respect of share-based payments have not been presented. (e) No disclosure has been given for the aggregate remuneration of key management personnel.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being 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.

4. Investments

	Shares in group undertakings
	£
Cost
At 1 January 2018 and 31 December 2018	3,189,155
	------------
Impairment
At 1 January 2018 and 31 December 2018	–
	------------

Carrying amount
At 31 December 2018	3,189,155
	------------
At 31 December 2017	3,189,155
	------------

5. Debtors

	2018	2017
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	186,601	186,601
Other debtors	100	100
	---------	---------
	186,701	186,701
	---------	---------

6. Creditors: amounts falling due within one year

	2018	2017
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	2,365,348	2,217,071
	------------	------------

7. Creditors: amounts falling due after more than one year

	2018	2017
	£	£
Other creditors	1,037,938	1,186,215
	------------	------------

8. Related party transactions

The company was under the control of Mr Keinan throughout the current and previous year. Mr Keinan is the managing director and majority shareholder.