Kore Technology Solutions Limited - Accounts to registrar (filleted) - small 18.2
Kore Technology Solutions Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019 |
| FOR |
| KORE TECHNOLOGY SOLUTIONS LIMITED |
| KORE TECHNOLOGY SOLUTIONS LIMITED (REGISTERED NUMBER: SC435662) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| KORE TECHNOLOGY SOLUTIONS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2019 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 1st Floor, 5 Abercrombie Crt |
| Prospect Road, |
| Westhill |
| Aberdeenshire |
| Grampian |
| AB32 6FE |
| KORE TECHNOLOGY SOLUTIONS LIMITED (REGISTERED NUMBER: SC435662) |
| BALANCE SHEET |
| 31 DECEMBER 2019 |
| 31.12.19 | 31.12.18 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 | ( |
) |
| PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Retained earnings | 11 |
| 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. |
| KORE TECHNOLOGY SOLUTIONS LIMITED (REGISTERED NUMBER: SC435662) |
| BALANCE SHEET - continued |
| 31 DECEMBER 2019 |
| 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 |
| KORE TECHNOLOGY SOLUTIONS LIMITED (REGISTERED NUMBER: SC435662) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2019 |
| 1. | STATUTORY INFORMATION |
| Kore Technology Solutions Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover 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 |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Stocks |
| Work in progress is valued at the lower of cost and net realisable value. |
| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in |
| bringing stocks to their present location and condition. |
| 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 balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| KORE TECHNOLOGY SOLUTIONS LIMITED (REGISTERED NUMBER: SC435662) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2019 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Computer |
| machinery | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 January 2019 |
| Additions |
| At 31 December 2019 |
| DEPRECIATION |
| At 1 January 2019 |
| Charge for year |
| At 31 December 2019 |
| NET BOOK VALUE |
| At 31 December 2019 |
| At 31 December 2018 |
| 5. | STOCKS |
| 31.12.19 | 31.12.18 |
| £ | £ |
| Work-in-progress |
| 6. | DEBTORS |
| 31.12.19 | 31.12.18 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Other debtors |
| Directors' current accounts | 1,900 | 3,400 |
| Prepayments |
| KORE TECHNOLOGY SOLUTIONS LIMITED (REGISTERED NUMBER: SC435662) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2019 |
| 6. | DEBTORS - continued |
| 31.12.19 | 31.12.18 |
| £ | £ |
| Amounts falling due after more than one year: |
| Other debtors |
| Tax |
| Aggregate amounts |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.19 | 31.12.18 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | 99,270 | 96,806 |
| Other creditors |
| Accrued expenses |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.12.19 | 31.12.18 |
| £ | £ |
| Hire purchase contracts |
| 9. | PROVISIONS FOR LIABILITIES |
| 31.12.19 | 31.12.18 |
| £ | £ |
| Deferred tax | 2,246 | 3,419 |
| Deferred |
| tax |
| £ |
| Balance at 1 January 2019 |
| Movement | (1,173 | ) |
| Balance at 31 December 2019 |
| KORE TECHNOLOGY SOLUTIONS LIMITED (REGISTERED NUMBER: SC435662) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2019 |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.12.19 | 31.12.18 |
| value: | £ | £ |
| Ordinary | 1 | 100,000 | 100,000 |
| 11. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 January 2019 |
| Profit for the year |
| At 31 December 2019 |
| 12. | ULTIMATE CONTROLLING PARTY |
| Karab Ltd owns the majority of the shares in Kore Technology Solutions Ltd. Duncan Booth is the sole director of |
| both Karab Ltd and Kore Technology Solutions Ltd. |