KGS1 LIMITED - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09051020 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MAY 2020

FOR

KGS1 LIMITED

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

Mr P Owen

REGISTERED OFFICE:

4th Floor

Radius House

51 Clarendon Road

Watford

Hertfordshire

WD17 1HP

REGISTERED NUMBER:

09051020 (England and Wales)

ACCOUNTANTS:

JSA Services Limited

4th Floor

Radius House

51 Clarendon Road

Watford

Hertfordshire

WD17 1HP

FIXED ASSETS

Tangible assets

5

4,476

3,875

CURRENT ASSETS

Debtors

25,407

32,077

Cash at bank

211,809

255,932

237,216

288,009

CREDITORS

Amounts falling due within one year

26,876

26,861

NET CURRENT ASSETS

210,340

261,148

TOTAL ASSETS LESS CURRENT LIABILITIES

214,816

265,023

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

7

214,716

264,923

SHAREHOLDERS' FUNDS

214,816

265,023

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2020 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 May 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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 and authorised for issue on 15 January 2021 and were signed by:

Mr P Owen - Director

1.	STATUTORY INFORMATION

KGS1 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

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

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

Fixtures and fittings

-

33% on cost

Computer equipment

-

33% on cost

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2019

12,549

Additions

4,296

At 31 May 2020

16,845

DEPRECIATION

At 1 June 2019

8,674

Charge for year

3,695

At 31 May 2020

12,369

NET BOOK VALUE

At 31 May 2020

4,476

At 31 May 2019

3,875

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

1

Ordinary

£100

100

100

7.

RESERVES

Reserves

£214,716

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2020 and 31 May 2019:

2020

2019

£

£

Mr P Owen

Balance outstanding at start of year

(25

)

(1,439

)

Amounts advanced

8,468

13,830

Amounts repaid

(9,449

)

(12,416

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(1,006

)

(25

)