Kengold Enterprises Limited - Period Ending 2014-03-31

Registration number: 05513190

Kengold Enterprises Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2014
 

Sterlings Ltd
Chartered Accountants
3rd Floor
Lawford House
Albert Place
London
N3 1QA

Kengold Enterprises Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Kengold Enterprises Limited
(Registration number: 05513190)
Abbreviated Balance Sheet at 31 March 2014

		Note			2014 £			2013 £
Fixed assets
Intangible fixed assets					158			258
Tangible fixed assets					49,794			68,181
					49,952			68,439
Current assets
Stocks					3,370			3,513
Debtors					35,173			40,058
Cash at bank and in hand					71,885			82,489
					110,428			126,060
Creditors: Amounts falling due within one year					(46,983)			(72,375)
Net current assets					63,445			53,685
Net assets					113,397			122,124
Capital and reserves
Called up share capital		3			200			200
Profit and loss account					113,197			121,924
Shareholders' funds					113,397			122,124

For the year ending 31 March 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 25 November 2014 and signed on its behalf by:

.........................................
Hasu Shamir Shah
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Kengold Enterprises Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Goodwill as stated at cost at time of accquisition.

Amortisation

Acquired goodwill is written off in equal installments over its useful life.

Asset class	Amortisation method and rate
Goodwill	10 % per annum on cost straight line

Depreciation

Tangible fixed 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:

Asset class	Depreciation method and rate
Fixtures, fittings & equipment	10% per annum straight line basis
Computer Equipment	25% per annum straight line basis

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

Page 2

Kengold Enterprises Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2014
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2013		1,000			217,965			218,965
Additions		-			3,964			3,964
At 31 March 2014		1,000			221,929			222,929
Depreciation
At 1 April 2013		742			149,784			150,526
Charge for the year		100			22,351			22,451
At 31 March 2014		842			172,135			172,977
Net book value
At 31 March 2014		158			49,794			49,952
At 31 March 2013		258			68,181			68,439

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
"A" Ordinary Shares of £1 each		100			100			100			100
"B" Ordinary Shares of £1 each		100			100			100			100
		200			200			200			200

4	Related party transactions

Directors' advances and credits

	2014 Advance/ Credit £	2014 Repaid £	2013 Advance/ Credit £	2013 Repaid £
Hasu Shamir Shah
	(986)	-	(2,504)	-
Mr Keval Malde
	(378)	-	(5,968)	-

Page 3