Korr Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07380342 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2021

for

Korr Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J Koramshai

REGISTERED OFFICE:

71-75 Shelton Street

Londoin

WC2H 9JQ

BUSINESS ADDRESS:

Green Acres

The Street

Poynings

West Sussex

BN45 7AQ

REGISTERED NUMBER:

07380342 (England and Wales)

ACCOUNTANTS:

Angela Campbell

Chartered Accountant

3 Maryfield Road

Broughty Ferry

DUNDEE

Tayside

DD5 2JJ

FIXED ASSETS

Tangible assets

4

2,287

4,050

Investments

5

94

94

2,381

4,144

CURRENT ASSETS

Debtors

6

-

25

Cash at bank and in hand

933

347

933

372

CREDITORS

Amounts falling due within one year

7

45,125

47,057

NET CURRENT LIABILITIES

(44,192

)

(46,685

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(41,811

)

(42,541

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(41,911

)

(42,641

)

SHAREHOLDERS' FUNDS

(41,811

)

(42,541

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 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.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 March 2022 and were signed by:

J Koramshai - Director

1.	STATUTORY INFORMATION

Korr Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover and revenue recognition

Turnover is derived from architectural services.

Turnover represents the income from these sources and is measured at the fair consideration received or receivable, excluding discounts, rebates and value added tax.

Tangible fixed assets

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimate residual value, over their expected useful lives on a straight line basis at 25% per annum.

At each balance sheet date , the company reviews the carrying amount of its tangible assets to determine whether there is any indication that any items have suffered an impairment loss. If such indication exists.the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

The following assets and liabilities are classified are classified as financial instruments trade debtors, trade creditors and loans from the director and subsidiary company to the company, which are interest free and repayable on demand. These are all measured at the undiscounted amount of the cash expected to be paid or received.

Taxation

Taxation for the year comprises current tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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.

Going concern basis

The accounts have been prepared on a going concern basis as the deficit on the reserves has arisen due to the writing off £30,000 of the director's loan in 2016. Included in Creditors are sums due to the subsidiary company, KorLet Dundee Limited and the director which, although are repayable on demand and are interest free, exceed the amount of the deficit on the reserves. The company has no long term financial commitments and only incurs expenditure to fulfil its trading activities generating income.

.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 July 2020

and 30 June 2021

7,160

DEPRECIATION

At 1 July 2020

3,110

Charge for year

1,763

At 30 June 2021

4,873

NET BOOK VALUE

At 30 June 2021

2,287

At 30 June 2020

4,050

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 July 2020

and 30 June 2021

94

NET BOOK VALUE

At 30 June 2021

94

At 30 June 2020

94

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Other debtors

-

25

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Amounts owed to group undertakings

16,207

16,207

Other creditors

28,918

30,850

45,125

47,057

8.	RELATED PARTY DISCLOSURES

9.	POST BALANCE SHEET EVENTS

The company has continued to only incur expenditure to fulfil any project secured since the Balance Sheet date, with exception of the fixed costs arising to market the company's services. The director has continued to support the company to meet these costs.