Korlet Dundee Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: SC353857 (Scotland)

Abbreviated Unaudited Accounts for the Year Ended 30 June 2014

for

Korlet Dundee Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

J Koramshai

SECRETARY:

Mrs L W Koramshai

REGISTERED OFFICE:

3 Maryfield Road

Broughty Ferry

Dundee

Tayside

DD5 2JJ

REGISTERED NUMBER:

SC353857 (Scotland)

ACCOUNTANTS:

Angela Campbell

Chartered Accountant

3 Maryfield Road

Broughty Ferry

DUNDEE

Tayside

DD5 2JJ

FIXED ASSETS

Tangible assets

2

30,946

40,440

CURRENT ASSETS

Debtors

10,404

8,647

Cash at bank and in hand

5,387

118

15,791

8,765

CREDITORS

Amounts falling due within one year

3

89,005

80,749

NET CURRENT LIABILITIES

(73,214

)

(71,984

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(42,268

)

(31,544

)

CREDITORS

Amounts falling due after more than one year

3

-

9,488

NET LIABILITIES

(42,268

)

(41,032

)

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

(42,368

)

(41,132

)

SHAREHOLDERS' FUNDS

(42,268

)

(41,032

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2014 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 31 March 2015 and were signed by:

J Koramshai - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax and gross rental income received.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

20% on cost

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on cost

Deferred tax

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

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Going concern basis

The financial statements have been prepared on a going concern basis as the business assets were sold in August

2014 and all non related creditors have been paid in full.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2013

and 30 June 2014

58,880

DEPRECIATION

At 1 July 2013

18,440

Charge for year

9,494

At 30 June 2014

27,934

NET BOOK VALUE

At 30 June 2014

30,946

At 30 June 2013

40,440

3.

CREDITORS

Creditors include an amount of £ 5,363 (30.6.13 - £ 7,707 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.14

30.6.13

value:

£

£

100

Ordinary

£1

100

100