Company Registration No. 04564991 (England and Wales)
KINARI DESIGN LTD
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2014
KINARI DESIGN LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
KINARI DESIGN LTD
ABBREVIATED BALANCE SHEET
AS AT
31 OCTOBER 2014
31 October 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
13,487
20,533
Current assets
Stocks
28,000
121,531
Debtors
2,370
5,917
Cash at bank and in hand
9,520
30,751
39,890
158,199
Creditors: amounts falling due within one year
(356,333)
(296,661)
Net current liabilities
(316,443)
(138,462)
Total assets less current liabilities
(302,956)
(117,929)
Capital and reserves
Called up share capital
3
1
1
Profit and loss account
(302,957)
(117,930)
Shareholders' funds
(302,956)
(117,929)
For the financial year ended 31 October 2014 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 abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 31 July 2015
Mr D Atherley
Director
Company Registration No. 04564991
KINARI DESIGN LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2014
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The accounts have been prepared on the going concern basis, on the understanding that the director will continue to financially support the company for the foreseeable future.
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment
25% Straight Line Method
Fixtures, fittings & equipment
25% Reducing Balance
1.4
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
2
Fixed assets
Tangible assets
£
Cost
At 1 November 2013
78,045
Additions
1,934
At 31 October 2014
79,979
Depreciation
At 1 November 2013
57,512
Charge for the year
8,980
At 31 October 2014
66,492
Net book value
At 31 October 2014
13,487
At 31 October 2013
20,533
KINARI DESIGN LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2014
- 3 -
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid
1 Ordinary Share of £1 each
1
1