Keating Kinetics Limited - Filleted accounts

KEATING KINETICS LIMITED - Company Information

Keating Kinetics Limited
Registered number:		10689080
Balance Sheet
as at 31 March 2018

Notes			2018
£
Fixed assets
Tangible assets	3		603

Current assets
Cash at bank and in hand		239

Creditors: amounts falling due within one year	4	(83,375)

Net current (liabilities)/assets			(83,136)

Net (liabilities)/assets			(82,533)

Capital and reserves
Called up share capital			500
Profit and loss account			(83,033)

Shareholder's funds			(82,533)

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Dr A Keating
Director
Approved by the board on 17 April 2018

Keating Kinetics Limited
Notes to the Accounts
for the period from 24 March 2017 to 31 March 2018


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	over 5 years

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

2	Taxation

	Corporation Tax has not been provided as the company made a taxable loss of £83,636 during the year. The loss will be carried forward to utilise against future profits of the company. Deferred Taxation has not been provided for because any timing differences will be covered by the trading losses.


3	Tangible fixed assets
				Plant and machinery
£
	Cost
	Additions			754
	At 31 March 2018			754

	Depreciation
	Charge for the period			151
	At 31 March 2018			151

	Net book value
	At 31 March 2018			603


4	Creditors: amounts falling due within one year		2018
£

	Accruals		500
	Director's loan account		82,875
			83,375


5	Profit and loss account		2018
£

	Loss for the year		(83,033)

	At 31 March 2018		(83,033)


6	Related party transactions

	Included within the creditors at the year end is £82,875 due to the company director. During the period the company paid £657 of expenses on behalf of the director and the director introduced £83,532.


7	Controlling party

	The ultimate controlling party is the Director and Shareholder Dr Anthony Keating.


8	Other information

	Keating Kinetics Limited is a private company limited by shares and incorporated in England. Its registered office is:
	174 Manchester Road
	Astley
	Manchester
	M29 7FB