Kore Matter Limited - Abbreviated accounts 16.1
Kore Matter Limited - Abbreviated accounts 16.1
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts |
| for the Year Ended 30th November 2015 |
| for |
| Kore Matter Limited |
| Kore Matter Limited (Registered number: 05988162) |
| Contents of the Abbreviated Accounts |
| for the year ended 30th November 2015 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| Kore Matter Limited |
| Company Information |
| for the year ended 30th November 2015 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Kore Matter Limited (Registered number: 05988162) |
| Abbreviated Balance Sheet |
| 30th November 2015 |
| 2015 | 2014 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Stocks |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 2 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 3 |
| Profit and loss account | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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 were approved by the Board of Directors on |
| Kore Matter Limited (Registered number: 05988162) |
| Notes to the Abbreviated Accounts |
| for the year ended 30th November 2015 |
| 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 January 2015). |
| Turnover |
| Turnover represents net invoiced sales of goods, excluding value added tax. |
| Stocks |
| Stocks and work in progress are stated at the lower of cost and net realisable value. Net realisable value is based on |
| estimated selling price, less further costs expected to be incurred to completion and disposal. Provision is made for |
| obsolete, slow-moving or defective items where appropriate. |
| Taxation |
| Current tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been |
| enacted or substantively enacted by the balance sheet date. |
| Deferred taxation is accounted for at expected tax rates on all differences arising from the inclusion of items of |
| income and expenditure in taxation computations in periods different from those in which they are included in the |
| financial statements. A deferred tax asset is only recognised when it is more likely than not that the asset will be |
| recoverable in the foreseeable future out of suitable taxable profits from which the underlying timing differences can |
| be deducted. |
| Going concern |
| The financial statements of the company have been prepared on a going concern basis |
| The company's balance sheet shows net liabilities of £116,051 (2014: £107,239) which indicates that the company |
| may not be a going concern. However the company is indebted to its directors Mr M Jearum to the extent of £98,737 |
| and Mr D Simmons to the extent of £254,796 by the way of short term business loans.The directors have confirmed |
| that they will not seek repayment of these loans unless the company has sufficient financial resources to pay them. |
| The directors therefore consider it is appropriate to prepare these accounts on a going concern basis. |
| 2. | CREDITORS |
| Creditors include the following debts falling due in more than five years: |
| 2015 | 2014 |
| £ | £ |
| Repayable otherwise than by instalments |
| 3. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2015 | 2014 |
| value: | £ | £ |
| Ordinary | £1 |
| Kore Matter Limited (Registered number: 05988162) |
| Notes to the Abbreviated Accounts - continued |
| for the year ended 30th November 2015 |
| 4. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| During the year the company engaged in the following transactions with its directors: |
| Mr M Jearum |
| 2015 | 2014 |
| £ | £ |
| Balance at start of the year | 139,637 | 181,637 |
| Balance at end of the year | 98,737 | 139,637 |
| Maximum amount outstanding | 139,637 | 181,637 |
| The above loan was unsecured, interest free and repayable on demand. |
| Mr D Simmons |
| 2015 | 2014 |
| £ | £ |
| Balance at start of the year | 221,115 | 181,315 |
| Balance at end of the year | 254,796 | 221,115 |
| Maximum amount outstanding | 254,796 | 221,115 |
| The above loan was unsecured, interest free and repayable on demand. |