Company Registration No. 08009592 (England and Wales)
K&K (LONDON) LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2015
K&K (LONDON) LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
K&K (LONDON) LTD
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
31 December 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
152,178
208,365
Current assets
Stocks
17,660
18,842
Debtors
164,066
94,718
Cash at bank and in hand
90,618
43,987
272,344
157,547
Creditors: amounts falling due within one year
(929,153)
(1,082,214)
Net current liabilities
(656,809)
(924,667)
Total assets less current liabilities
(504,631)
(716,302)
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
(504,731)
(716,402)
Shareholder's funds
(504,631)
(716,302)
For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has 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 28 September 2016
K P Kofler
Director
Company Registration No. 08009592
K&K (LONDON) LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
- 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 January 2015).
The company meets its day to day working capital requirements through the support of the director and parent company. This support has been confirmed for a period of at least 12 months from the approval of the financial statements. On this basis, the director considers it appropriate to prepare the financial statements on the going concern basis.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for food and beverages sold net of VAT. Turnover is recognised upon billing the customers.
1.4
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:
Fixtures, fittings & equipment
over 3/4.75 years
1.5
Stock
Stock is valued at the lower of cost and net realisable value.
1.6
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.7
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.
K&K (LONDON) LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 January 2015
264,770
Additions
1,257
At 31 December 2015
266,027
Depreciation
At 1 January 2015
56,405
Charge for the year
57,444
At 31 December 2015
113,849
Net book value
At 31 December 2015
152,178
At 31 December 2014
208,365
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
4
Ultimate parent company
The ultimate parent company is K & K Group AG, a company registered in Switzerland.