K&C at the Gymnasium Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 06354246 (England and Wales)

Abbreviated Unaudited Accounts

for the Period 1 October 2012 to 31 December 2013

for

K&C AT THE GYMNASIUM LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

4

DIRECTOR:

P D Karakusevic

SECRETARY:

L Cobb

REGISTERED OFFICE:

The Gymnasium

56 Kingsway Place

Sans Walk

London

EC1R 0LU

REGISTERED NUMBER:

06354246 (England and Wales)

ACCOUNTANTS:

Richardson Swift

Chartered Accountants

11 Laura Place

Bath

BA2 4BL

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 five) 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 K&C at the Gymnasium Limited for the period ended 31 December 2013 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 K&C at the Gymnasium Limited in accordance with our terms of

engagement. Our work has been undertaken solely to prepare for your approval the financial statements of

K&C at the Gymnasium Limited and state those matters that we have agreed to state to the director of K&C

at the Gymnasium 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 K&C at the Gymnasium 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 K&C at the Gymnasium Limited. You consider that K&C at the Gymnasium Limited is exempt

from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of K&C at the

Gymnasium 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.

Richardson Swift

Chartered Accountants

11 Laura Place

Bath

BA2 4BL

30 September 2014

FIXED ASSETS

Tangible assets

2

1,663,171

1,638,171

CURRENT ASSETS

Debtors

673,946

498,196

CREDITORS

Amounts falling due within one year

3

237,642

95,632

NET CURRENT ASSETS

436,304

402,564

TOTAL ASSETS LESS CURRENT LIABILITIES

2,099,475

2,040,735

CREDITORS

Amounts falling due after more than one year

3

1,788,444

2,075,879

NET ASSETS/(LIABILITIES)

311,031

(35,144

)

CAPITAL AND RESERVES

Called up share capital

4

2

2

Profit and loss account

311,029

(35,146

)

SHAREHOLDERS' FUNDS

311,031

(35,144

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2013.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2013 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 September 2014 and were signed by:

P D Karakusevic - 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).

Turnover

Turnover represents net invoiced rental charges, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on cost

No depreciation is provided on the leasehold property on the basis that the residual value of the

property is so high as to make any depreciation charge immaterial.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2012

1,668,594

Additions

25,000

At 31 December 2013

1,693,594

DEPRECIATION

At 1 October 2012

and 31 December 2013

30,423

NET BOOK VALUE

At 31 December 2013

1,663,171

At 30 September 2012

1,638,171

3.

CREDITORS

Creditors include an amount of £ 861,677 (2012 - £ 918,101 ) for which security has been given.

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

2013

2012

£

£

Repayable by instalments

598,517

602,309

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2013

2012

value:

£

£

2

Ordinary

£1

2

2

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 30 September 2013, a balance of £456,701 (2012: 456,701) is owed to P D Karakusevic and a

balance of £336,700 (2012:456,700) is owed to I M Carson. No interest is accruing on these loans

which are unsecured.