Korr Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07380342 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2019

for

Korr Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J Koramshai

REGISTERED OFFICE:

71-75 Shelton Street

Londoin

WC2H 9JQ

BUSINESS ADDRESS:

23 Langdale Road

Hove

BN3 4HQ

REGISTERED NUMBER:

07380342 (England and Wales)

ACCOUNTANTS:

Angela Campbell

Chartered Accountant

3 Maryfield Road

Broughty Ferry

DUNDEE

Tayside

DD5 2JJ

FIXED ASSETS

Tangible assets

4

3,722

550

Investments

5

94

94

3,816

644

CURRENT ASSETS

Debtors

6

838

2,175

Cash at bank and in hand

5,831

217

6,669

2,392

CREDITORS

Amounts falling due within one year

7

45,481

29,188

NET CURRENT LIABILITIES

(38,812

)

(26,796

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(34,996

)

(26,152

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(35,096

)

(26,252

)

SHAREHOLDERS' FUNDS

(34,996

)

(26,152

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2019 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director on 29 March 2020 and were signed by:

J Koramshai - Director

1.	STATUTORY INFORMATION

Korr Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover and revenue recognition

Turnover is derived from architectural services.

Turnover represents the income from these sources and is measured at the fair consideration received or

receivable, excluding discounts, rebates and value added tax.

Tangible fixed assets

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and

accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of fixed assets,

less their estimate residual value, over their expected useful lives on a straight line basis at 25% per annum.

At each balance sheet date , the company reviews the carrying amount of its tangible assets to determine whether

there is any indication that any items have suffered an impairment loss. If such indication exists.the recoverable

amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not

possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the

cash-generating unit to which the asset belongs.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

The following assets and liabilities are classified are classified as financial instruments trade debtors, trade

creditors and loans from the director and subsidiary company to the company, which are interest free and

repayable on demand. These are all measured at the undiscounted amount of the cash expected to be paid or

received.

Taxation

Taxation for the year comprises current 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 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 balance sheet date.

Going concern basis

The accounts have been prepared on a going concern basis as the deficit on the reserves has arisen due to the

writing off £30,000 of the director's loan in 2016. Included in Creditors are sums due to the subsidiary company,

KorLet Dundee Limited and the director which, although are repayable on demand and are interest free, exceed

the amount of the deficit on the reserves. The company has no long term financial commitments and only incurs

expenditure to fulfil its trading activities generating income.

.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 July 2018

510

4,631

5,141

Additions

-

4,960

4,960

Disposals

(510

)

(4,521

)

(5,031

)

At 30 June 2019

-

5,070

5,070

DEPRECIATION

At 1 July 2018

509

4,082

4,591

Charge for year

-

1,241

1,241

Eliminated on disposal

(509

)

(3,975

)

(4,484

)

At 30 June 2019

-

1,348

1,348

NET BOOK VALUE

At 30 June 2019

-

3,722

3,722

At 30 June 2018

1

549

550

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 July 2018

and 30 June 2019

94

NET BOOK VALUE

At 30 June 2019

94

At 30 June 2018

94

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.19

30.6.18

£

£

Trade debtors

-

2,175

Other debtors

838

-

838

2,175

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.19

30.6.18

£

£

Amounts owed to group undertakings

15,911

19,732

Taxation and social security

-

64

Other creditors

29,570

9,392

45,481

29,188

8.	RELATED PARTY DISCLOSURES