Kerala Connections Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03626809 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2019

for

Kerala Connections Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

D J Syrett

T Syrett

SECRETARY:

D J Syrett

REGISTERED OFFICE:

Lilac Cottage

Mount Easy

Horsmonden

Tonbridge

Kent

TN12 8BP

REGISTERED NUMBER:

03626809 (England and Wales)

ACCOUNTANTS:

Peter Hodgson & Co.

Chartered Accountants

Shadwell House

65 Lower Green Road

Tunbridge Wells

Kent

TN4 8TW

FIXED ASSETS

Property, plant and equipment

3

1

587

CURRENT ASSETS

Debtors

4

184,874

156,340

Investments

5

180,924

163,218

Cash at bank

222,178

266,289

587,976

585,847

CREDITORS

Amounts falling due within one year

6

364,173

392,179

NET CURRENT ASSETS

223,803

193,668

TOTAL ASSETS LESS CURRENT LIABILITIES

223,804

194,255

CAPITAL AND RESERVES

Called up share capital

7

15,000

15,000

Fair value reserve

8

80,924

63,218

Retained earnings

8

127,880

116,037

SHAREHOLDERS' FUNDS

223,804

194,255

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 24 October 2019 and were signed on its behalf by:

D J Syrett - Director

1.	STATUTORY INFORMATION

Kerala Connections Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

There are no significant judgements or estimates pertaining to these accounts that the directors feel need to be

brought to the attention of users of these accounts.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office equipment

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the

operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Revenue recognition

Amounts received at the balance sheet date in respect of holidays booked by clients for future years are treated as

deferred revenue. Amounts paid by the company at the balance sheet date in respect of accommodation costs

for holidays in future years are treated as deferred expenditure.

Financial instruments

The company's financial protection investment bond is valued at mid market value as at the balance sheet date.

Other financial instruments comprising bank balances are recorded at fair value.

Functional currency

The functional currency used by the company is £ Sterling.

3.	PROPERTY, PLANT AND EQUIPMENT

Office

equipment

£

COST

At 1 October 2018

and 30 September 2019

27,889

DEPRECIATION

At 1 October 2018

27,302

Charge for year

586

At 30 September 2019

27,888

NET BOOK VALUE

At 30 September 2019

1

At 30 September 2018

587

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Value added tax

805

1,334

Deferred expenditure

184,069

155,006

184,874

156,340

5.	CURRENT ASSET INVESTMENTS

2019

2018

£

£

Customer protection bond

180,924

163,218

The original cost of the customer protection bond amounted to £100,000 and the increase in market value since

inception amounted to £80,924.. The increase in the year amounted to £17,706..

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Tax

8,007

16,244

Social security and other taxes

385

84

Deferred revenue

303,186

331,920

Directors' current accounts

51,045

42,431

Accrued expenses

1,550

1,500

364,173

392,179

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

15,000

Ordinary

£1

15,000

15,000

8.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 October 2018

116,037

63,218

179,255

Profit for the year

33,549

33,549

Dividends

(4,000

)

(4,000

)

Transfer

(17,706

)

17,706

-

At 30 September 2019

127,880

80,924

208,804

The fair value reserve comprises the difference between the original cost of the financial protection investment

bond and the market value of the bond at the balance sheet date.

The original cost amounted to £100,000 and the increase in market value since inception amounted to £80,924.

The increase in the year amounted to £17,706.