| Keating Kinetics Limited |
| Registered number: |
10689080 |
| Balance Sheet |
| as at 31 March 2020 |
|
| Notes |
|
|
2020 |
|
|
2019 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
4 |
|
|
302 |
|
|
452 |
|
| Current assets |
| Cash at bank and in hand |
|
|
313 |
|
|
306 |
|
| Creditors: amounts falling due within one year |
5 |
|
(70,151) |
|
|
(109,991) |
|
| Net current liabilities |
|
|
|
(69,838) |
|
|
(109,685) |
|
| Total assets less current liabilities |
|
|
|
(69,536) |
|
|
(109,233) |
|
| Creditors: amounts falling due after more than one year |
7 |
|
|
(1,069) |
|
|
- |
|
|
| Net liabilities |
|
|
|
(70,605) |
|
|
(109,233) |
|
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
155,365 |
|
|
500 |
| Profit and loss account |
|
|
|
(225,970) |
|
|
(109,733) |
|
|
| Shareholder's funds |
|
|
|
(70,605) |
|
|
(109,233) |
|
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Dr A Keating |
| Director |
| Approved by the board on 1 February 2021 |
|
| Keating Kinetics Limited |
| Notes to the Accounts |
| for the year ended 31 March 2020 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
over 5 years |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
| 2 |
Taxation |
|
|
Corporation Tax has not been provided as the company made a taxable loss of £116,237 during the year. The loss will be carried forward to utilise against future profits of the company. |
|
|
| 3 |
Employees |
2020 |
|
2019 |
| Number |
Number |
|
|
Average number of persons employed by the company |
- |
|
- |
|
|
|
|
|
|
|
|
|
|
| 4 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery |
| £ |
|
Cost |
|
At 1 April 2019 |
754 |
|
At 31 March 2020 |
754 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2019 |
302 |
|
Charge for the year |
150 |
|
At 31 March 2020 |
452 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2020 |
302 |
|
At 31 March 2019 |
452 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2020 |
|
2019 |
| £ |
£ |
|
|
Accruals |
5,000 |
|
1,000 |
|
Director's loan account |
65,151 |
|
108,991 |
|
|
|
|
|
|
70,151 |
|
109,991 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Profit and loss account |
2020 |
| £ |
|
|
At 1 April 2019 |
(109,733) |
|
Loss for the year |
(116,237) |
|
|
At 31 March 2020 |
(225,970) |
|
|
|
|
|
|
|
|
| 7 |
Creditors: amounts falling due after one year |
2020 |
|
2019 |
| £ |
£ |
|
|
Loan > 1 year |
1,069 |
|
- |
|
|
|
|
|
|
|
|
|
|
| 8 |
Related party transactions |
|
|
Included within the creditors at the year end is £65,151 (2019: £108,991) due from the company director. During the period the company paid £48,183 of expenses on behalf of the director and the director introduced £4,343. |
|
|
| 9 |
Controlling party |
|
|
The ultimate controlling party is the Director and Shareholder Dr Anthony Keating. |
|
|
| 10 |
Other information |
|
|
Keating Kinetics Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
6 Otterswood Square |
|
Martland Park |
|
Wigan |
|
WN5 0LF |
