ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

KARTAS LIMITED - Company Information

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Caseware UK (AP4) 2018.0.196 2018.0.196 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueOther engineering activitiesfalse2017-05-01 09556434 2017-05-01 2018-10-31 09556434 2018-10-31 09556434 2017-04-30 09556434 c:Director1 2017-05-01 2018-10-31 09556434 d:CurrentFinancialInstruments 2018-10-31 09556434 d:CurrentFinancialInstruments 2017-04-30 09556434 d:CurrentFinancialInstruments d:WithinOneYear 2018-10-31 09556434 d:CurrentFinancialInstruments d:WithinOneYear 2017-04-30 09556434 d:ShareCapital 2018-10-31 09556434 d:ShareCapital 2017-04-30 09556434 d:RetainedEarningsAccumulatedLosses 2018-10-31 09556434 d:RetainedEarningsAccumulatedLosses 2017-04-30 09556434 c:FRS102 2017-05-01 2018-10-31 09556434 c:AuditExempt-NoAccountantsReport 2017-05-01 2018-10-31 09556434 c:FullAccounts 2017-05-01 2018-10-31 09556434 c:PrivateLimitedCompanyLtd 2017-05-01 2018-10-31 09556434 c:PublicLimitedCompanyPLCNotQuotedOnAnyExchange 2017-05-01 2018-10-31 iso4217:GBP

Registered number: 09556434










Kartas Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Period Ended 31 October 2018
 
Kartas Limited
Registered number: 09556434

Balance Sheet
As at 31 October 2018

31 October
30 April
2018
2017
Note
£
£

  

Current assets
  

Cash at bank and in hand
 4 
31,378
1

  
31,378
1

Creditors: amounts falling due within one year
 5 
(25,598)
-

Net current assets
  
 
 
5,780
 
 
1

Total assets less current liabilities
  
5,780
1

  

Net assets
  
5,780
1


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
5,779
-

  
5,780
1


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M J Sargent
Director

Date: 27 September 2019

The notes on pages 2 to 4 form part of these financial statements.

Page 1
 
Kartas Limited
 

 
Notes to the Financial Statements
For the Period Ended 31 October 2018

1.


General information

The company is a private company, limited by share capital, incorporated in England and Wales.
The company's registered office and principal place of business is:
Unit 63 Chichester Enterprise Centre
Terminus Road
Chichester
West Sussex
PO19 8TX 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
∙the Company has transferred the significant risks and rewards of ownership to the buyer;
∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the transaction; and
∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Taxation

Tax is recognised in the Statement of Income and Retained Earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 2
 
Kartas Limited
 

 
Notes to the Financial Statements
For the Period Ended 31 October 2018

2.Accounting policies (continued)

 
2.5

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the period was 1 (2017 - 1).


4.


Cash and cash equivalents

31 October
30 April
2018
2017
£
£

Cash at bank and in hand
31,378
1

31,378
1



5.


Creditors: Amounts falling due within one year

31 October
30 April
2018
2017
£
£

Corporation tax
1,355
-

Other taxation and social security
4,843
-

Accruals and deferred income
19,400
-

25,598
-


Page 3
 
Kartas Limited
 

 
Notes to the Financial Statements
For the Period Ended 31 October 2018

6.


Controlling party

Arkle Acquisitions Limited, a company incorporated in England and Wales, is the company's immediate parent. The ultimate parent and controlling party is Arkle International Limited, a company incorporated in England and Wales. 
The registered office of Arkle Acquisitions Limited is:
63 Chichester Enterprise Centre
Terminus Road 
Chichester
West Sussex
PO19 8TX


Page 4