Karaca Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 07737754 (England and Wales)

Karaca Limited

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2015

Page

Company Information

1

Chartered Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

5

DIRECTOR:

Mr Y Kara

SECRETARY:

REGISTERED OFFICE:

Unit 2

332-334 Walworth Road, Southwark

London

SE17 2NA

REGISTERED NUMBER:

07737754 (England and Wales)

ACCOUNTANTS:

Alton & Co

Chartered Accountants

237 Kennington Lane

London

SE11 5QU

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages three to

seven) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Karaca Limited for the year ended 31 March 2015 which comprise the Profit and Loss Account,

the Balance Sheet and the related notes from the company's accounting records and from information and explanations

you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the director of Karaca Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Karaca Limited and state those matters that we have agreed to state to the director of Karaca Limited in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Karaca Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Karaca Limited. You consider that Karaca Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Karaca Limited. For this

reason, we have not verified the accuracy or completeness of the accounting records or information and explanations

you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Alton & Co

Chartered Accountants

237 Kennington Lane

London

SE11 5QU

31 December 2015

FIXED ASSETS

Tangible assets

2

72,643

74,858

Investment property

3

90,000

-

162,643

74,858

CURRENT ASSETS

Stocks

456,187

377,125

Debtors

38,567

272,382

Cash at bank and in hand

99,095

97,478

593,849

746,985

CREDITORS

Amounts falling due within one year

399,900

553,542

NET CURRENT ASSETS

193,949

193,443

TOTAL ASSETS LESS CURRENT LIABILITIES

356,592

268,301

CREDITORS

Amounts falling due after more than one year

4

(39,575

)

(68,050

)

PROVISIONS FOR LIABILITIES

(14,529

)

(10,509

)

NET ASSETS

302,488

189,742

CAPITAL AND RESERVES

Called up share capital

5

100

100

Profit and loss account

302,388

189,642

SHAREHOLDERS' FUNDS

302,488

189,742

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 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 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 director on 29 December 2015 and were signed by:

Mr Y Kara - 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).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Turnover is generated from the ordinary activities of the business and is recognised when customer takes

delivery of the goods.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes

in market value is transferred to a revaluation reserve.

Stocks

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

slow moving items.

Cost is determined on first in first out basis. Net realisable value is the selling price of the items less any cost to

sell.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

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

period of the lease.

Going concern

In the director's assessment of the company's ability to continue as a going concern, there are no material

uncertainties that may cast significant doubt about the company's ability to continue as a going concern.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

104,656

Additions

15,946

At 31 March 2015

120,602

DEPRECIATION

At 1 April 2014

29,798

Charge for year

18,161

At 31 March 2015

47,959

NET BOOK VALUE

At 31 March 2015

72,643

At 31 March 2014

74,858

3.	INVESTMENT PROPERTY

Total

£

COST

Additions

90,000

At 31 March 2015

90,000

NET BOOK VALUE

At 31 March 2015

90,000

4.

CREDITORS

Creditors include the following debts falling due in more than five years:

2015

2014

£

£

Repayable by instalments

-

4,953

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

100

Ordinary

£1

100

100