Koan (UK) Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05201693 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 August 2014

for

Koan (UK) Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

D D Telford

L Tracey

M N De Nervaux

A L Spratley

REGISTERED OFFICE:

66 Queens Road

Clifton

Bristol

United Kingdom

BS8 1QU

REGISTERED NUMBER:

05201693 (England and Wales)

ACCOUNTANTS:

Corrigan Associates Bristol LLP

The Tramshed

25 Lower Park Row

Bristol

BS1 5BN

FIXED ASSETS

Intangible assets

2

61,228

80,495

Tangible assets

3

11,547

20,840

72,775

101,335

CURRENT ASSETS

Stocks

259,616

283,578

Debtors

133,944

24,482

Cash at bank and in hand

124,422

129,261

517,982

437,321

CREDITORS

Amounts falling due within one year

359,201

284,412

NET CURRENT ASSETS

158,781

152,909

TOTAL ASSETS LESS CURRENT LIABILITIES

231,556

254,244

PROVISIONS FOR LIABILITIES

-

4,500

NET ASSETS

231,556

249,744

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

231,456

249,644

SHAREHOLDERS' FUNDS

231,556

249,744

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 28 May 2015 and were signed on its behalf by:

D D Telford - 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 goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of five years.

Patents and trademarks

Patents and trademarks, capitalised in April 2009, are being amortised over their estimated useful

lives of 10 years.

Tangible fixed assets

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

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

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

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

Pension costs and other post-retirement benefits

The company pays contributions in to personal pension plans held separately by the employees.

Contributions payable are charged to the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2013

and 31 August 2014

96,574

AMORTISATION

At 1 September 2013

16,079

Amortisation for year

19,267

At 31 August 2014

35,346

NET BOOK VALUE

At 31 August 2014

61,228

At 31 August 2013

80,495

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2013

85,425

Additions

787

At 31 August 2014

86,212

DEPRECIATION

At 1 September 2013

64,585

Charge for year

10,080

At 31 August 2014

74,665

NET BOOK VALUE

At 31 August 2014

11,547

At 31 August 2013

20,840

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary

£1

100

100