KASSIUS LIMITED - Abbreviated accounts

KASSIUS LIMITED - Abbreviated accounts


Registered number
04428701
KASSIUS LIMITED
Unaudited Abbreviated Accounts
31 May 2015
KASSIUS LIMITED
Registered number: 04428701
Abbreviated Balance Sheet
as at 31 May 2015
Notes 2015 2014
£ £
Fixed assets
Tangible assets 3 11,362 2,153
Investments 4 12,500 12,500
23,862 14,653
Current assets
Debtors 18,228 28,132
Cash at bank and in hand 150,919 117,764
169,147 145,896
Creditors: amounts falling due within one year (47,651) (41,425)
Net current assets 121,496 104,471
Total assets less current liabilities 145,358 119,124
Provisions for liabilities (2,272) (431)
Net assets 143,086 118,693
Capital and reserves
Called up share capital 5 100 100
Profit and loss account 142,986 118,593
Shareholders' funds 143,086 118,693
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
Andrew Bryan McGovren
Director
Approved by the board on 16 December 2015
KASSIUS LIMITED
Notes to the Abbreviated Accounts
for the year ended 31 May 2015
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 25% per annum on reducing balance basis
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
Leasing and hire purchase commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.
2 Intangible fixed assets £
Cost
At 1 June 2014 100,000
At 31 May 2015 100,000
Amortisation
At 1 June 2014 100,000
At 31 May 2015 100,000
Net book value
At 31 May 2015 -
3 Tangible fixed assets £
Cost
At 1 June 2014 12,176
Additions 12,996
At 31 May 2015 25,172
Depreciation
At 1 June 2014 10,023
Charge for the year 3,787
At 31 May 2015 13,810
Net book value
At 31 May 2015 11,362
At 31 May 2014 2,153
4 Investments £
Cost
At 1 June 2014 12,500
At 31 May 2015 12,500
5 Share capital Nominal 2015 2015 2014
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 100 100 100
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