Korpp Ltd. - Limited company - abbreviated - 11.6
Korpp Ltd. - Limited company - abbreviated - 11.6
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts for the Year Ended 30 June 2014 |
| for |
| Korpp Ltd. |
| Korpp Ltd. (Registered number: SC269794) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 30 June 2014 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| Korpp Ltd. |
| Company Information |
| for the Year Ended 30 June 2014 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Korpp Ltd. (Registered number: SC269794) |
| Abbreviated Balance Sheet |
| 30 June 2014 |
| 30.6.14 | 30.6.13 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| Investment property | 3 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 4 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
4 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| Revaluation reserve |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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. |
| Korpp Ltd. (Registered number: SC269794) |
| Abbreviated Balance Sheet - continued |
| 30 June 2014 |
| The financial statements were approved by the director on |
| Korpp Ltd. (Registered number: SC269794) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 30 June 2014 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention as modified by the revaluation |
| of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April |
| 2008). |
| Turnover |
| Turnover represents the gross rental income received from the investment properties during the year. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Investment property |
| In accordance with the Financial Reporting Standard for Smaller Entities the investments are valued on an open |
| market value and therefore no depreciation or amortisation is provided in respect of these properties. This |
| treatment is a departure from the requirements of the Companies Act 2006 concerning depreciation of fixed |
| assets. However these properties are held for investment and the director considers that systematic annual |
| depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial |
| statements to give a true and fair view. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 July 2013 |
| and 30 June 2014 |
| DEPRECIATION |
| At 1 July 2013 |
| Charge for year |
| At 30 June 2014 |
| NET BOOK VALUE |
| At 30 June 2014 |
| At 30 June 2013 |
| Korpp Ltd. (Registered number: SC269794) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 30 June 2014 |
| 3. | INVESTMENT PROPERTY |
| Total |
| £ |
| COST OR VALUATION |
| At 1 July 2013 |
| Disposals | ( |
) |
| At 30 June 2014 |
| NET BOOK VALUE |
| At 30 June 2014 |
| At 30 June 2013 |
| 4. | CREDITORS |
| Creditors include an amount of £ |
| They also include the following debts falling due in more than five years: |
| 30.6.14 | 30.6.13 |
| £ | £ |
| Repayable otherwise than by instalments | 160,512 | 160,512 |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 30.6.14 | 30.6.13 |
| value: | £ | £ |
| Ordinary | £1 |
| 6. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 30 June 2014 and |
| 30 June 2013: |
| 30.6.14 | 30.6.13 |
| £ | £ |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Balance outstanding at end of year | ( |
) |
| During the year, the director withdrew £144,500 from the company, which included repayment of the sum due to |
| the director at 30 June 2013. The dividends received from the company over the year of £38,700 were |
| transferred to the director's loan account. In addition, monies that had been advanced to Korlet Dundee Limited |
| by the director of £30,000 have been utilised to reduce the balance due by the director to Korrp Limited. £2,200 |
| was repaid to the company by the director.and company expenses of £3,521 were paid by the director.The loan is |
| unsecured, interest free and there are no repayment terms. |
| The outstanding balance at 30 June 2014 was repaid by a dividend paid by the company in September 2014. |