Oliver Kinross Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 06401622 (England and Wales)

OLIVER KINROSS LIMITED

Abbreviated Unaudited Accounts for the Year Ended 30 June 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

7

DIRECTOR:

Mr N McKenzie

REGISTERED OFFICE:

Granville House

2 Tettenhall Road

Wolverhampton

West Midlands

WV1 4SB

REGISTERED NUMBER:

06401622 (England and Wales)

ACCOUNTANTS:

Lancaster Haskins Limited

Granville House

2 Tettenhall Road

Wolverhampton

West Midlands

WV1 4SB

FIXED ASSETS

Tangible assets

2

25,717

24,617

Investments

3

1

25,718

24,618

CURRENT ASSETS

Debtors

1,523,324

851,751

Cash at bank and in hand

95,399

878,271

1,618,723

1,730,022

CREDITORS

Amounts falling due within one year

1,338,007

1,298,010

NET CURRENT ASSETS

280,716

432,012

TOTAL ASSETS LESS CURRENT
LIABILITIES

306,434

456,630

PROVISIONS FOR LIABILITIES

5,143

4,923

NET ASSETS

301,291

451,707

CAPITAL AND RESERVES

Called up share capital

4

2

Profit and loss account

301,289

451,705

SHAREHOLDERS' FUNDS

301,291

451,707

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2016 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 31 March 2017 and were signed by:

Mr N McKenzie - 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 January 2015).

Preparation of consolidated financial statements

The financial statements contain information about Oliver Kinross Limited as an individual company and do not

contain consolidated financial information as the parent of a group. The company has taken the option under

Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Turnover

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the

period, exclusive of Value Added Tax and trade discounts.

Revenue in respect of the company's principal activity, being international business research and marketing

organisation, is recognised at conference completion until which point amounts invoiced are recorded as deferred

income.

During the year £581,061 of sales were made relating to events to be held in the following year. The cost of

planning and selling those events has been included in these accounts, but the sales have not been included.

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

-

15% on cost

Computer equipment

-

33.33% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Event related expenses

Directly attributable event expenses such as conference venue costs are recognised in the year in which the event

has been completed.

Joint venture

The company has run a number of joint venture conferences with a third party. The sales and costs in the

company accounts are shown net after removing the 50% relating to the third party.

Foreign currencies

Transactions expressed in foreign currencies are translated into sterling and recorded at the rates of exchange

approximating to those ruling at the date of transaction. Monetary assets and liabilities are translated at rates

ruling at the balance sheet date. All differences are taken to the profit and loss account.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

64,432

Additions

14,282

Disposals

(849

)

At 30 June 2016

77,865

DEPRECIATION

At 1 July 2015

39,815

Charge for year

12,980

Eliminated on disposal

(647

)

At 30 June 2016

52,148

NET BOOK VALUE

At 30 June 2016

25,717

At 30 June 2015

24,617

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 July 2015

and 30 June 2016

1

NET BOOK VALUE

At 30 June 2016

1

At 30 June 2015

1

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.16

30.6.15

value:

£

2

ordinary

£1

2

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 30 June 2016 and the period

ended 30 June 2015:

30.6.16

30.6.15

£

Mr N McKenzie

Balance outstanding at start of year

-

Amounts advanced

200,000

-

Amounts repaid

-

Balance outstanding at end of year

200,000

-

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 two to six) 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 Oliver Kinross Limited for the year ended 30 June 2016 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Oliver Kinross Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Oliver Kinross Limited and state those matters that we have agreed to state to the director of Oliver Kinross Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Oliver Kinross Limited director for our work or for this report.

It is your duty to ensure that Oliver Kinross 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 Oliver Kinross Limited. You consider that Oliver Kinross Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Oliver Kinross 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.

Lancaster Haskins Limited

Granville House

2 Tettenhall Road

Wolverhampton

West Midlands

WV1 4SB

Date: .............................................