| KSM Solutions Limited |
| Accountants' Report |
|
|
| Accountants' report to the director of |
| KSM Solutions Limited |
|
| You consider that the company is exempt from an audit for the year ended 31 October 2013. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year. |
| In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us. |
| We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. |
|
| Carrington Corporate Services Limited |
| Accountants |
|
| 107 Cheapside |
| London |
| EC2V 6DN |
|
| 23 July 2014 |
|
| KSM Solutions Limited |
| Balance Sheet |
| as at 31 October 2013 |
|
| Notes |
|
|
2013 |
|
|
2012 |
| £ |
£ |
| Current assets |
| Debtors |
4 |
|
37,791 |
|
|
79,400 |
| Cash at bank and in hand |
|
|
1,773 |
|
|
1,839 |
|
|
|
39,564 |
|
|
81,239 |
|
| Creditors: amounts falling due within one year |
5 |
|
(40,503) |
|
|
(81,023) |
|
| Net current (liabilities)/assets |
|
|
|
(939) |
|
|
216 |
|
| Net (liabilities)/assets |
|
|
|
(939) |
|
|
216 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
6 |
|
|
100 |
|
|
1 |
| Profit and loss account |
7 |
|
|
(1,039) |
|
|
215 |
|
| Shareholder's funds |
|
|
|
(939) |
|
|
216 |
|
|
|
|
|
|
|
|
| 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 in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
|
| Simon Mylchreest |
| Director |
| Approved by the board on 23 July 2014 |
|
| KSM Solutions Limited |
| Notes to the Accounts |
| for the year ended 31 October 2013 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts 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 the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
|
|
| 2 |
Operating profit |
2013 |
|
2012 |
| £ |
£ |
|
This is stated after charging: |
|
|
Directors' remuneration |
12,813 |
|
15,755 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Taxation |
2013 |
|
2012 |
| £ |
£ |
|
|
UK corporation tax |
37,736 |
|
69,739 |
|
|
|
|
|
|
|
|
|
|
|
| 4 |
Debtors |
2013 |
|
2012 |
| £ |
£ |
|
|
Trade debtors |
4,800 |
|
43,560 |
|
VAT debtor |
|
|
|
|
1,239 |
|
- |
|
Director's loan |
|
|
|
|
31,752 |
|
35,840 |
|
|
|
|
|
|
37,791 |
|
79,400 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2013 |
|
2012 |
| £ |
£ |
|
|
VAT creditor |
|
|
|
|
- |
|
11,217 |
|
Corporation tax |
37,736 |
|
69,739 |
|
Other taxes and social security costs |
2,767 |
|
67 |
|
|
|
|
|
|
40,503 |
|
81,023 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Share capital |
Nominal |
|
2013 |
|
2013 |
|
2012 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
100 |
|
100 |
|
1 |
|
|
|
|
|
|
|
|
|
|
Share capital was understated last year, last years figures have not been restated. |
|
|
|
| 7 |
Profit and loss account |
2013 |
| £ |
|
|
At 1 November 2012 |
215 |
|
Profit for the year |
150,946 |
|
Dividends |
(152,200) |
|
|
At 31 October 2013 |
(1,039) |
|
|
|
|
|
|
|
|
| 8 |
Dividends |
2013 |
|
2012 |
| £ |
£ |
|
|
Dividends for which the company became liable during the year: |
|
Dividends paid |
152,200 |
|
267,500 |
|
|
|
|
|
|
|
|
|
|
| 9 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
|
Simon Mylchreest |
|
Director's loan |
35,840 |
|
148,112 |
|
(152,200) |
|
31,752 |
|
|
|
35,840 |
|
148,112 |
|
(152,200) |
|
31,752 |
|
|
|
|
|
|
|
|
|
|
The advances were unsecured and repayable on demand. Interest at 4% was charged on the advances. This is to be fully repaid on 30 April 2014. |
|
|
| 10 |
Ultimate controlling party |
|
|
The Director, Simon Mylchreest, is the controlling party by virtue of his shareholding and Directorship. |
