Kianna Limited Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 07142906

KIANNA LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 October 2019

KIANNA LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 OCTOBER 2019

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	3

KIANNA LIMITED

OFFICERS AND PROFESSIONAL ADVISERS

The board of directors	N J Colvin
	M J Pendower

Registered office	Lynton House
	7-12 Tavistock Square
	London
	WC1H 9BQ

Accountants	BSG Valentine
	Chartered Accountants
	Lynton House
	7-12 Tavistock Square
	London
	WC1H 9BQ

KIANNA LIMITED

STATEMENT OF FINANCIAL POSITION

31 October 2019

	2019		2018
Note	£	£	£	£

Current assets

Stocks		162,000	162,000
Debtors	4	1,657	947
Cash at bank and in hand		37,318	23,642
		---------	---------
		200,975	186,589

Creditors: amounts falling due within one year	5	( 34,059)		( 40,001)
		---------		---------
Net current assets			166,916		146,588
			---------		---------
Total assets less current liabilities			166,916		146,588
			---------		---------
Net assets			166,916		146,588
			---------		---------

Capital and reserves

Called up share capital	1	1
Profit and loss account	166,915	146,587
	---------	---------
Shareholders funds	166,916	146,588
	---------	---------

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 October 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 12 May 2020 , and are signed on behalf of the board by:

M J Pendower

Director

Company registration number: 07142906

KIANNA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 OCTOBER 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lynton House, 7-12 Tavistock Square, WC1H 9BQ, London.

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.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented. (d) Disclosures in respect of share-based payments have not been presented. (e) No disclosure has been given for the aggregate remuneration of key management personnel.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

The turnover shown in the profit and loss account represents amounts received on sale of properties during the period, exclusive of Value Added Tax. Turnover is recognised on completion of sales.

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.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Stocks include cost of properties and associated purchase costs.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Debtors

	2019	2018
	£	£
Trade debtors	1,657	240
Other debtors	–	707
	-------	----
	1,657	947
	-------	----

5. Creditors: amounts falling due within one year

	2019	2018
	£	£
Bank loans and overdrafts	3	3
Trade creditors	93	32
Amounts owed to group undertakings and undertakings in which the company has a participating interest	21,000	21,000
Corporation tax	4,768	5,286
Other creditors	8,195	13,680
	--------	--------
	34,059	40,001
	--------	--------