KA Associates Limited - Period Ending 2020-07-31
KA Associates Limited - Period Ending 2020-07-31
Registration number:
KA Associates Limited
for the Year Ended 31 July 2020
KA Associates Limited
Profit and Loss Account for the Year Ended 31 July 2020
The company has not traded during the year. During this year, the company received no income and incurred no expenditure and therefore made neither profit nor loss.
KA Associates Limited
(Registration number: NI619196)
Balance Sheet as at 31 July 2020
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Note |
2020 |
2019 |
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Fixed assets |
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Tangible assets |
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Creditors: Amounts falling due within one year |
( |
( |
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Total assets less current liabilities |
( |
( |
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Provisions for liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
( |
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Shareholders' deficit |
( |
( |
For the financial year ending 31 July 2020 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Director's responsibilities:
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• |
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• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved and authorised by the
.........................................
Director
KA Associates Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2020
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General information |
The company is a private company limited by share capital, incorporated in Northern Ireland.
The address of its registered office is:
Northern Ireland
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Other property, plant and equipment |
25% Reducing Balance |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
KA Associates Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2020
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
KA Associates Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2020
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Tangible assets |
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Other tangible assets |
Total |
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Cost or valuation |
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At 1 August 2019 |
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At 31 July 2020 |
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Depreciation |
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At 1 August 2019 |
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At 31 July 2020 |
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Carrying amount |
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At 31 July 2020 |
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At 31 July 2019 |
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Creditors |
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Note |
2020 |
2019 |
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Due within one year |
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Amounts due to related parties |
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Accruals |
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Income tax liability |
601 |
601 |
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Provisions for liabilities |
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Deferred tax |
Total |
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At 1 August 2019 |
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At 31 July 2020 |
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Share capital |
Allotted, called up and fully paid shares
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2020 |
2019 |
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No. |
£ |
No. |
£ |
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2 |
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2 |