Abbreviated Company Accounts - OUMAR K LTD
Abbreviated Company Accounts - OUMAR K LTD
Registered Number 07119056
OUMAR K LTD
Abbreviated Accounts
31 December 2013
OUMAR K LTD Registered Number 07119056
Abbreviated Balance Sheet as at 31 December 2013
Notes | 2013 | 2012 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Investments | 3 |
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Current assets | |||
Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
( |
( |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
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Total net assets (liabilities) |
( |
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Capital and reserves | |||
Called up share capital | 4 |
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Other reserves |
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Profit and loss account |
( |
( |
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Shareholders' funds |
( |
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For the year ending 31 December 2013 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
And signed on their behalf by:
OUMAR K LTD Registered Number 07119056
Notes to the Abbreviated Accounts for the period ended 31 December 2013
1Accounting Policies
Basis of measurement and preparation of accounts
The company has net liabilities of £186,356 at the balance sheet date. In order to continue to trade the company is reliant upon the support of its Directors and Shareholders. It has been indicated that this support will continue for the foreseeable future.
Turnover policy
Tangible assets depreciation policy
Fixtures, fittings & equipment 25% Reducing balance
Other accounting policies
The financial statements are prepared in accordance with applicable United Kingdom Accounting
Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied
consistently (except as otherwise stated).
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
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 purposes. The deferred tax balance has 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. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Investment properties
Investment properties are included in the balance sheet at their open market value. Depreciation is
provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
£ | |
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Cost | |
At 1 January 2013 |
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Additions |
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Disposals |
( |
Revaluations |
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Transfers |
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At 31 December 2013 |
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Depreciation | |
At 1 January 2013 |
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Charge for the year |
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On disposals |
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At 31 December 2013 |
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Net book values | |
At 31 December 2013 | 4,317,401 |
At 31 December 2012 | 4,036,504 |
3Fixed assets Investments