Sksk Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 09024798 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

SKSK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr K Gandhi

REGISTERED OFFICE:

107 Green Lane

Coventry

West Midlands

CV3 6EB

REGISTERED NUMBER:

09024798 (England and Wales)

ACCOUNTANTS:

TGFP

Chartered Accountants

Fulford House

Newbold Terrace

Leamington Spa

Warwickshire

CV32 4EA

FIXED ASSETS

Intangible assets

4

199,500

228,000

Tangible assets

5

3,525

4,406

203,025

232,406

CURRENT ASSETS

Debtors

6

25,814

21,242

Cash at bank and in hand

23,723

2,525

49,537

23,767

CREDITORS

Amounts falling due within one year

7

23,322

15,437

NET CURRENT ASSETS

26,215

8,330

TOTAL ASSETS LESS CURRENT LIABILITIES

229,240

240,736

CREDITORS

Amounts falling due after more than one year

8

285,000

285,000

NET LIABILITIES

(55,760

)

(44,264

)

CAPITAL AND RESERVES

Called up and paid share capital

100

100

Retained earnings

(55,860

)

(44,364

)

SHAREHOLDERS' FUNDS

(55,760

)

(44,264

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 13 November 2017 and were signed by:

Mr K Gandhi - Director

1.	STATUTORY INFORMATION

Sksk 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 acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil 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.

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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

285,000

AMORTISATION

At 1 April 2016

57,000

Amortisation for year

28,500

At 31 March 2017

85,500

NET BOOK VALUE

At 31 March 2017

199,500

At 31 March 2016

228,000

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2016

and 31 March 2017

6,768

DEPRECIATION

At 1 April 2016

2,362

Charge for year

881

At 31 March 2017

3,243

NET BOOK VALUE

At 31 March 2017

3,525

At 31 March 2016

4,406

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Amounts owed by group undertakings

8,200

-

Directors' current accounts

12,263

18,264

Deferred tax asset

5,351

2,978

25,814

21,242

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

-

1,242

Social security and other taxes

5

79

VAT

21,994

7,341

Other creditors

-

5,000

Accruals and deferred income

1,323

1,775

23,322

15,437

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Other creditors

285,000

285,000

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2017 and

31 March 2016:

2017

2016

£

£

Mr K Gandhi

Balance outstanding at start of year

18,264

18,264

Amounts advanced

12,263

-

Amounts repaid

(18,264

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

12,263

18,264

The loan is non interest bearing and has no fixed term of repayment.