K.Fredriksen Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 08044006 (England and Wales)

K.FREDRIKSEN LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Miss K A Fredriksen

SECRETARY:

REGISTERED OFFICE:

Holly House

Bath Lane

Buckingham

Buckinghamshire

MK18 1DX

REGISTERED NUMBER:

08044006 (England and Wales)

FIXED ASSETS

Investments

3

1,000,000

1,000,000

CURRENT ASSETS

Cash at bank

286,896

296,288

CREDITORS

Amounts falling due within one year

4

855,211

853,771

NET CURRENT LIABILITIES

(568,315

)

(557,483

)

TOTAL ASSETS LESS CURRENT LIABILITIES

431,685

442,517

CAPITAL AND RESERVES

Called up share capital

1,000,000

1,000,000

Retained earnings

(568,315

)

(557,483

)

SHAREHOLDERS' FUNDS

431,685

442,517

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 6 December 2017 and were signed by:

Miss K A Fredriksen - Director

1.	STATUTORY INFORMATION

K.Fredriksen Ltd 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.

The financial statements have been prepared on a going concern basis, notwithstanding net current liabilities of

£568,315 as at 30th April 2017, which the director believes to be appropriate for the following reason. The

company is dependent on its shareholders not requesting amounts due to them of £853,051 at the balance sheet

date and they have given assurances that they will not request such sums until the company is able to make

repayment without prejudicing the interests of the other creditors of the company.

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.

Investments in associates

An associate is an entity over which the Company is in a position to exercise significant influence, but not

control or joint control, through participation in the financial and operating policy decisions of the investee.

Investments in associated companies are carried at cost less accumulated impairment losses in the Company’s

balance sheet. On disposal of investments in associated companies, the difference between disposal proceeds and

the carrying amounts of the investments are recognised in the profit and loss account.

Investments in associated companies are tested for impairment whenever there is any objective evidence or

indication that these assets may be impaired. For the purpose of impairment testing, the recoverable amount (i.e.

the higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis. If the

recoverable amount of the asset is estimated to be less than its carrying amount, the carrying amount of the asset

is reduced to its recoverable amount.

3.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

At 1 May 2016

and 30 April 2017

1,000,000

NET BOOK VALUE

At 30 April 2017

1,000,000

At 30 April 2016

1,000,000

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Trade creditors

1,500

-

Other creditors

853,711

853,771

855,211

853,771

5.	ULTIMATE CONTROLLING PARTY

The controlling party is Miss K A Fredriksen.

The ultimate controlling party is Miss K A Fredriksen.