Company Registration No. 04438161 (England and Wales)
KINETIC SOLUTIONS (UK) LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2016
KINETIC SOLUTIONS (UK) LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
KINETIC SOLUTIONS (UK) LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
2
236
Current assets
Debtors
3,834
14,194
Cash at bank and in hand
3,305
2,577
7,139
16,771
Creditors: amounts falling due within one year
(7,102)
(11,070)
Net current assets
37
5,701
Total assets less current liabilities
39
5,937
Provisions for liabilities
-
(47)
39
5,890
Capital and reserves
Called up share capital
3
500
500
Other reserves
500
500
Profit and loss account
(961)
4,890
Shareholders' funds
39
5,890
For the financial year ended 31 May 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 18 January 2017
M R Wood
Director
Company Registration No. 04438161
KINETIC SOLUTIONS (UK) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
1.2
Turnover
Turnover represents amounts receivable for goods and services net of trade discounts.
1.3
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment
20% straight line
2
Fixed assets
Tangible assets
£
Cost
At 1 June 2015 & at 31 May 2016
1,172
Depreciation
At 1 June 2015
936
Charge for the year
234
At 31 May 2016
1,170
Net book value
At 31 May 2016
2
At 31 May 2015
236
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
500 Ordinary of £1 each
500
500
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