For the year ended 31 May 2016
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 09045848
KLS Global Ltd
For the year ended 31 May 2016
1
Accountants' Report
2
Balance Sheet
3 to 4
Notes to the Abbreviated Financial Statements
KLS Global Ltd
Accountants' Report
For the year ended 31 May 2016
In order to assist you to fulfil your duties under Companies Act
2006
,
we have prepared for your approval the
|
accounts of KLS Global Ltd for the year ended
31
May
2016
which comprise the Profit and Loss Account
,
the
|
Balance Sheet and the related notes from the company
'
s accounting records and from information and
|
explanations you have given us
.
|
As a practising firm of the Association of Chartered Certified Accountants
,
we are subject to its ethical and other
|
professional requirements which are detailed at http
://
rulebook
.
accaglobal
.
com
.
|
This report is made solely to the Board of Directors of KLS Global Ltd
,
as a body
,
in accordance with the terms of
|
our engagement letter dated
.
Our work has been undertaken solely to prepare for your approval the accounts of
|
KLS Global Ltd and state those matters that we have agreed to state to the Board of Directors of KLS Global Ltd
,
|
as a body
,
in this report in accordance with the requirements of the Association of Chartered Certified Accountants
|
and as detailed at http
://
www
.
accaglobal
.
com
/
factsheet
163
.
To the fullest extent permitted by law
,
we do not accept
|
or assume responsibility to anyone other than KLS Global Ltd and its Board of Directors as a body for our work or
|
for this report
.
|
It is your duty to ensure that KLS Global Ltd has kept adequate accounting records and to prepare statutory
|
accounts that give a true and fair view of the assets
,
liabilities
,
financial position and profit of KLS Global Ltd
.
You
|
consider that KLS Global Ltd is exempt from the statutory audit requirement for the year
.
|
Knight Accountants
Theaklen Drive
St Leonards on Sea
East Sussex
TN38 9AZ
1 of 4
Notes to the Abbreviated Financial Statements
|
KLS Global Ltd
For the year ended 31 May 2016
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 financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the director who has undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
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Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
|
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Proposed dividends are only included as liabilities in the financial statements when their payment has been approved
|
by the shareholders prior to the balance sheet date
.
|
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
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Computer Equipment
3 of 4
Notes to the Abbreviated Financial Statements
|
KLS Global Ltd
For the year ended 31 May 2016
751
751
248
Charge for year
248
503
4 of 4