Katzy Communications Ltd Small abridged accounts

KATZY COMMUNICATIONS LTD - Company Information

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Statement of Consent to Prepare Abridged Financial Statements

All of the members of Katzy Communications Ltd have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 5 April 2017 in accordance with Section 444(2A) of the Companies Act 2006.

COMPANY REGISTRATION NUMBER: 04490741

Katzy Communications Ltd

Unaudited Abridged Financial Statements

5 April 2017

Katzy Communications Ltd

Abridged Financial Statements

Year ended 5 April 2017

Contents	Pages

Directors' report	1

Chartered accountant's report to the board of directors on the preparation of the unaudited statutory abridged financial statements	2

Abridged statement of income and retained earnings	3

Abridged statement of financial position	4

Notes to the abridged financial statements	5 to 7

The following pages do not form part of the abridged financial statements

Detailed abridged income statement	9

Notes to the detailed abridged income statement	10

Katzy Communications Ltd

Directors' Report

Year ended 5 April 2017

The directors present their report and the unaudited abridged financial statements of the company for the year ended 5 April 2017 .

Directors

The directors who served the company during the year were as follows:

Mr D. L. Katz
Mrs. L.D. Halpern
Mr. J.H. Katz
Mrs. J. C. Katz
Mrs. A.M. Katz

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 21 July 2017 and signed on behalf of the board by:

Mr D. L. Katz	Mrs. A.M. Katz
Director	Director

Katzy Communications Ltd

Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of Katzy Communications Ltd

Year ended 5 April 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of Katzy Communications Ltd for the year ended 5 April 2017, which comprise the abridged statement of income and retained earnings, abridged statement of financial position 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 www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Katzy Communications Ltd, as a body, in accordance with the terms of our engagement letter dated 22 February 2016. Our work has been undertaken solely to prepare for your approval the abridged financial statements of Katzy Communications Ltd and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Katzy Communications Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Katzy Communications Ltd has kept adequate accounting records and to prepare statutory abridged financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Katzy Communications Ltd. You consider that Katzy Communications Ltd 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 abridged financial statements of Katzy Communications Ltd. 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 abridged financial statements.

H.W. FISHER & COMPANY LIMITED Chartered accountant

Acre House, 11-15 William Road London NW1 3ER

27 July 2017

Katzy Communications Ltd

Abridged Statement of Income and Retained Earnings

Year ended 5 April 2017

	2017	2016
Note	£	£
Gross profit	81,023	41,985

Administrative expenses	29,186	26,482
	--------	--------
Operating profit	51,837	15,503

Other interest receivable and similar income		18	–
		--------	--------
Profit before taxation	5	51,855	15,503

Tax on profit	10,595	3,040
	--------	--------
Profit for the financial year and total comprehensive income	41,260	12,463
	--------	--------

Dividends paid and payable	( 41,380)	( 8,000)

Retained earnings/(losses) at the start of the year	2,603	( 1,860)
	--------	-------
Retained earnings at the end of the year	2,483	2,603
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All the activities of the company are from continuing operations.

Katzy Communications Ltd

Abridged Statement of Financial Position

5 April 2017

	2017		2016
Note	£	£	£

Fixed assets

Tangible assets	6		688	577

Current assets

Debtors	5,570	10,060
Cash at bank and in hand	11,362	2,545
	--------	--------
	16,932	12,605

Creditors: amounts falling due within one year	15,136		10,578
	--------		--------
Net current assets		1,796	2,027
		-------	-------
Total assets less current liabilities		2,484	2,604
		-------	-------
Net assets		2,484	2,604
		-------	-------

Capital and reserves

Called up share capital	1	1
Profit and loss account	2,483	2,603
	-------	-------
Members funds	2,484	2,604
	-------	-------

These abridged financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the year ending 5 April 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

These abridged financial statements were approved by the board of directors and authorised for issue on 21 July 2017 , and are signed on behalf of the board by:

Mr D. L. Katz	Mrs. A.M. Katz
Director	Director

Company registration number: 04490741

Katzy Communications Ltd

Notes to the Abridged Financial Statements

Year ended 5 April 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Acre House, 11-15 William Road, London, NW1 3ER, United Kingdom.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

(a) Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

(b) Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 6 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

(d) Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

(e) Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

(f) Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Computer equipment	-	33% straight line

(g) Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

4. Employee numbers

The average number of persons employed by the company during the year, including the directors, amounted to 5 (2016: 5 ).

5. Profit before taxation

Profit before taxation is stated after charging:

	2017	2016
	£	£
Depreciation of tangible assets	490	288
	----	----

6. Tangible assets

	£
Cost
At 6 April 2016	865
Additions	601
	-------
At 5 April 2017	1,466
	-------
Depreciation
At 6 April 2016	288
Charge for the year	490
	-------
At 5 April 2017	778
	-------
Carrying amount
At 5 April 2017	688
	-------
At 5 April 2016	577
	-------

7. Related party transactions

The company is controlled by Mr. D. L. Katz.

8. Transition to FRS 102

These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 6 April 2015.

No transitional adjustments were required in equity or profit or loss for the year.

Katzy Communications Ltd

Management Information

Year ended 5 April 2017

The following pages do not form part of the abridged financial statements.

Katzy Communications Ltd

Detailed Abridged Income Statement

Year ended 5 April 2017

	2017	2016
	£	£
Turnover	83,583	43,540

Cost of sales

Direct costs	2,560	1,555

	--------	--------
Gross profit	81,023	41,985

Overheads

Administrative expenses	29,186	26,482

	--------	--------
Operating profit	51,837	15,503

Other interest receivable and similar income	18	–

	--------	--------
Profit before taxation	51,855	15,503
	--------	--------

Katzy Communications Ltd

Notes to the Detailed Abridged Income Statement

Year ended 5 April 2017

	2017	2016
	£	£

Administrative expenses

Directors salaries	22,202	20,461
Rent	400	–
Insurance	214	179
Repairs and maintenance	–	279
Travel and subsistence	2,356	2,233
Telephone	762	596
Stationery and computer costs	438	304
General expenses	54	701
Childcare fees	267	–
Subscriptions	424	–
Entertaining	1,058	1,352
Accountancy fees	400	–
Depreciation	490	288
Bank charges	121	89
	--------	--------
	29,186	26,482
	--------	--------

Other interest receivable and similar income

Interest on cash and cash equivalents	18	–
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