Kit Ram Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 09393099 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2017

FOR

KIT RAM LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr S K Ram

SECRETARY:

Mr K Underwood

REGISTERED OFFICE:

Grace Lodge

21 Days Lane

Biddenham

Bedford

Bedfordshire

MK40 4AD

REGISTERED NUMBER:

09393099 (England and Wales)

ACCOUNTANTS:

Bell and Company

Chartered Accountants

64 Harpur Street

Bedford

Bedfordshire

MK40 2ST

FIXED ASSETS

Intangible assets

3

1,152

1,296

Tangible assets

4

505

674

1,657

1,970

CURRENT ASSETS

Cash at bank

9,593

6,593

CREDITORS

Amounts falling due within one year

5

11,245

9,061

NET CURRENT LIABILITIES

(1,652

)

(2,468

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5

(498

)

CAPITAL AND RESERVES

Called up share capital

6

1

1

Retained earnings

4

(499

)

SHAREHOLDERS' FUNDS

5

(498

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 10 August 2017 and were signed by:

Mr S K Ram - Director

1.	STATUTORY INFORMATION

Kit Ram Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the right to deal with certain clients in 2015, is being

amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Computer equipment

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

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

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2016

and 31 January 2017

1,440

AMORTISATION

At 1 February 2016

144

Amortisation for year

144

At 31 January 2017

288

NET BOOK VALUE

At 31 January 2017

1,152

At 31 January 2016

1,296

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 February 2016

and 31 January 2017

899

DEPRECIATION

At 1 February 2016

225

Charge for year

169

At 31 January 2017

394

NET BOOK VALUE

At 31 January 2017

505

At 31 January 2016

674

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.17

31.1.16

£

£

Trade creditors

8,826

5,064

Tax

1,000

-

Other creditors

650

-

Directors' current accounts

19

3,097

Accruals and deferred income

750

900

11,245

9,061

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.17

31.1.16

value:

£

£

1

Ordinary

£1

1

1