KENROSS LIMITED Company Accounts

false false false false false false false false false true false false false false false false false No description of principal activity 2016-04-01 Sage Accounts Production Advanced 2017 Update 4 - FRS 14,113 14,113 xbrli:pure xbrli:shares iso4217:GBP 02430360 2016-04-01 2017-03-31 02430360 2017-03-31 02430360 2015-04-01 2016-03-31 02430360 2016-03-31 02430360 bus:Director1 2016-04-01 2017-03-31 02430360 core:WithinOneYear 2017-03-31 02430360 core:WithinOneYear 2016-03-31 02430360 core:ShareCapital 2017-03-31 02430360 core:ShareCapital 2016-03-31 02430360 core:RetainedEarningsAccumulatedLosses 2017-03-31 02430360 core:RetainedEarningsAccumulatedLosses 2016-03-31 02430360 bus:FRS102 2016-04-01 2017-03-31 02430360 bus:AuditExempt-NoAccountantsReport 2016-04-01 2017-03-31 02430360 bus:FullAccounts 2016-04-01 2017-03-31 02430360 bus:SmallCompaniesRegimeForAccounts 2016-04-01 2017-03-31 02430360 bus:PrivateLimitedCompanyLtd 2016-04-01 2017-03-31 02430360 core:FurnitureFittingsToolsEquipment 2016-04-01 2017-03-31 02430360 core:FurnitureFittingsToolsEquipment 2017-03-31

COMPANY REGISTRATION NUMBER: 02430360

KENROSS LIMITED

Filleted Unaudited Financial Statements

31 March 2017

KENROSS LIMITED

Financial Statements

Year ended 31 March 2017

Contents	Page

Statement of financial position	1

Notes to the financial statements	2

KENROSS LIMITED

Statement of Financial Position

31 March 2017

	2017		2016
Note	£	£	£

Current assets

Stocks		8,375	1,625
Debtors	6	3,781	3,941
		--------	-------
		12,156	5,566

Creditors: amounts falling due within one year	7	38,430		28,542
		--------		--------
Net current liabilities			26,274	22,976
			--------	--------
Total assets less current liabilities			( 26,274)	( 22,976)
			--------	--------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 26,374)	( 23,076)
	--------	--------
Shareholders deficit	( 26,274)	( 22,976)
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 19 June 2018 , and are signed on behalf of the board by:

M Lieblich
Director

Company registration number: 02430360

KENROSS LIMITED

Notes to the Financial Statements

Year ended 31 March 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hallswelle House, 1 Hallswelle Road, London, NW11 0DH.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Furniture and Equipment	-	25% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2016: 1 ).

5. Tangible assets

	Furniture and Equipment	Total
	£	£
Cost
At 1 April 2016 and 31 March 2017	14,113	14,113
	--------	--------
Depreciation
At 1 April 2016 and 31 March 2017	14,113	14,113
	--------	--------
Carrying amount
At 31 March 2017	–	–
	--------	--------
At 31 March 2016	–	–
	--------	--------

6. Debtors

	2017	2016
	£	£
Trade debtors	3,781	3,941
	-------	-------

7. Creditors: amounts falling due within one year

	2017	2016
	£	£
Bank loans and overdrafts	5,751	6,697
Corporation tax	6,817	7,978
Trade ,sundry creditors and accruals	25,862	13,867
	--------	--------
	38,430	28,542
	--------	--------

8. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2015.

No transitional adjustments were required in equity or profit or loss for the year.