Abbreviated Company Accounts - KINORA LIMITED

Registered Number NI061709

KINORA LIMITED

Abbreviated Accounts

31 March 2015

KINORA LIMITED Registered Number NI061709

Abbreviated Balance Sheet as at 31 March 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	142,000	124,927
Investments	3	1,512,650	1,679,285
		1,654,650	1,804,212
Current assets
Debtors		665,183	316,450
Cash at bank and in hand		288,570	432,051
		953,753	748,501
Creditors: amounts falling due within one year		(1,646,792)	(1,671,592)
Net current assets (liabilities)		(693,039)	(923,091)
Total assets less current liabilities		961,611	881,121
Total net assets (liabilities)		961,611	881,121
Capital and reserves
Called up share capital		1	1
Revaluation reserve		86,522	33,721
Profit and loss account		875,088	847,399
Shareholders' funds		961,611	881,121

For the year ending 31 March 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 by the Board on 22 December 2015

And signed on their behalf by:
John Elliot, Director

KINORA LIMITED Registered Number NI061709

Notes to the Abbreviated Accounts for the period ended 31 March 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements are prepared under the historical cost convention. The company has taken advantage of the exemption in FRS1 from the requirement to produce a cashflow statement on the grounds that it is a small company.
The financial statements have been prepared on a going concern basis under the historical cost convention and in accordance with the Companies Act 2006 and applicable accounting standards in the UK.

Turnover policy
Turnover represents amounts receivable for goods and service net of VAT and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows:
Fixtures, fittings & equipment 50% straight line

Other accounting policies
Investments
Fixed asset investments are stated at the latest valuation.

Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting policies. The deferred tax balance had not been discounted.

Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transaction in foreign currencies are recorded at the rate ruling at the date of transaction. All differences are taken to profit and loss account.

Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

2Tangible fixed assets

	£
Cost
At 1 April 2014	130,154
Additions	-
Disposals	-
Revaluations	22,000
Transfers	-
At 31 March 2015	152,154
Depreciation
At 1 April 2014	5,227
Charge for the year	4,927
On disposals	-
At 31 March 2015	10,154
Net book values
At 31 March 2015	142,000
At 31 March 2014	124,927

3Fixed assets Investments
Investments brought forward 1,679,285
Addition 25,015
Revaluation (171,621)
Disposals (20,029)
Closing 1,512,650