Fintek Development Ltd - Limited company accounts 11.7

REGISTERED NUMBER: 06689932 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 30 September 2014

for

Fintek Development Ltd

Page

Company Information

1

Report of the Directors

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

Iaroslav Litynskyi

Ulpiano Calderon Moreno

SECRETARY:

Fermin Milciades Castanedas Chacon

REGISTERED OFFICE:

Suite 48

88-90 Hatton Garden

London

EC1N 8PN

REGISTERED NUMBER:

06689932 (England and Wales)

The directors present their report with the financial statements of the company for the year ended 30 September 2014.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of selling and support of TV-equipment, home

appliances and transport services.

DIRECTOR

Iaroslav Litynskyi held office during the whole of the period from 1 October 2013 to the date of this report.

Ulpiano Calderon Moreno was appointed as a director after 30 September 2014 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with

applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors

have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting

Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not

approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the

company and of the profit or loss of the company for that period. In preparing these financial statements, the directors

are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the

company's transactions and disclose with reasonable accuracy at any time the financial position of the company and

enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for

safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud

and other irregularities.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating

to small companies.

ON BEHALF OF THE BOARD:

Iaroslav Litynskyi - Director

30 September 2015

TURNOVER

-

27,386

Cost of sales

-

28,046

GROSS LOSS

-

(660

)

Administrative expenses

658

314

OPERATING LOSS and

LOSS ON ORDINARY ACTIVITIES
BEFORE TAXATION

2

(658

)

(974

)

Tax on loss on ordinary activities

3

-

LOSS FOR THE FINANCIAL YEAR

(658

)

(974

)

CURRENT ASSETS

Cash at bank

87

CREDITORS

Amounts falling due within one year

4

853

195

NET CURRENT LIABILITIES

(766

)

(108

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(766

)

(108

)

CAPITAL AND RESERVES

Called up share capital

5

100

Profit and loss account

6

(866

)

(208

)

SHAREHOLDERS' FUNDS

(766

)

(108

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the Board of Directors on 30 September 2015 and were signed on its behalf
by:

Iaroslav Litynskyi - 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 services, excluding value added tax.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

2.	OPERATING LOSS

The operating loss is stated after charging:

30.9.14

30.9.13

£

Foreign exchange differences

-

299

Director's remuneration and other benefits etc

-

3.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose on ordinary activities for the year ended 30 September 2014 nor for the

year ended 30 September 2013.

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.14

30.9.13

£

Tax

195

Other creditors

658

-

853

195

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.14

30.9.13

value:

£

100

Ordinary

£1

100

6.

RESERVES

Profit

and loss

account

£

At 1 October 2013

(208

)

Deficit for the year

(658

)

At 30 September 2014

(866

)