Khalsmith Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 05282501 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2016

for

Khalsmith Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

7

DIRECTORS:

T J Smith

M R Khalastchi

D Khalastchi

REGISTERED OFFICE:

20 York Place

Leeds

Yorkshire

LS1 2EX

REGISTERED NUMBER:

05282501 (England and Wales)

ACCOUNTANTS:

Fizz Accounting Limited

6a St Andrews Court

Wellington Street

Thame

Oxfordshire

OX9 3WT

FIXED ASSETS

Tangible assets

2

255

437

Investments

3

103,356

103,416

Investment property

4

356,380

341,795

459,991

445,648

CURRENT ASSETS

Debtors

494,307

422,830

Cash at bank

1,123

1,518

495,430

424,348

CREDITORS

Amounts falling due within one year

5

377,926

190,785

NET CURRENT ASSETS

117,504

233,563

TOTAL ASSETS LESS CURRENT LIABILITIES

577,495

679,211

CREDITORS

Amounts falling due after more than one
year

5

566,370

649,600

NET ASSETS

11,125

29,611

CAPITAL AND RESERVES

Called up share capital

6

4

Revaluation reserve

34,714

Profit and loss account

(23,593

)

(5,107

)

SHAREHOLDERS' FUNDS

11,125

29,611

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the
end of each financial year and of its profit or loss for each financial year in accordance with the requirements of
Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to
financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 30 December 2016 and were signed on its behalf
by:

M R Khalastchi - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents rental income receivable, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes

in market value is transferred to a revaluation reserve.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

3,752

DEPRECIATION

At 1 April 2015

3,315

Charge for year

182

At 31 March 2016

3,497

NET BOOK VALUE

At 31 March 2016

255

At 31 March 2015

437

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 April 2015

and 31 March 2016

2

NET BOOK VALUE

At 31 March 2016

2

At 31 March 2015

2

Loans

£

At 1 April 2015

103,414

Additions

(60

)

At 31 March 2016

103,354

4.	INVESTMENT PROPERTY

Total

£

COST

At 1 April 2015

341,795

Additions

14,585

At 31 March 2016

356,380

NET BOOK VALUE

At 31 March 2016

356,380

At 31 March 2015

341,795

5.

CREDITORS

Creditors include an amount of £ 112,186 (31.3.15 - £ 130,995 ) for which security has been given.

They also include the following debts falling due in more than five years:

31.3.16

31.3.15

£

Repayable otherwise than by instalments

34,292

Repayable by instalments

7,417

30,101

41,709

64,393

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

4

Ordinary

£1

4

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to six) have

been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Khalsmith Limited for the year ended 31 March 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 member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Khalsmith Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Khalsmith Limited and state those matters that we have agreed to state to the Board of Directors of Khalsmith Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Khalsmith Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Khalsmith Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Khalsmith Limited. You consider that Khalsmith Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Khalsmith Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Fizz Accounting Limited

6a St Andrews Court

Wellington Street

Thame

Oxfordshire

OX9 3WT

Date: .............................................