Knightsbridge Building Solutions Limited Small abridged accounts

Knightsbridge Building Solutions Limited Small abridged accounts

KNIGHTSBRIDGE BUILDING SOLUTIONS LIMITED - Company Information

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Statement of Consent to Prepare Abridged Financial Statements
All of the members of Knightsbridge Building Solutions Limited have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 30 June 2017 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER: 09651455
Knightsbridge Building Solutions Limited
Filleted Unaudited Abridged Financial Statements
30 June 2017
Knightsbridge Building Solutions Limited
Abridged Financial Statements
Year ended 30 June 2017
Contents
Page
Chartered accountant's report to the director on the preparation of the unaudited statutory abridged financial statements
1
Abridged statement of financial position
2
Statement of changes in equity
3
Notes to the abridged financial statements
4
Knightsbridge Building Solutions Limited
Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Abridged Financial Statements of Knightsbridge Building Solutions Limited
Year ended 30 June 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of Knightsbridge Building Solutions Limited for the year ended 30 June 2017, which comprise the abridged statement of financial position, statement of changes in equity 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 at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Knightsbridge Building Solutions Limited in accordance with the terms of our engagement letter dated 1 March 2018. Our work has been undertaken solely to prepare for your approval the abridged financial statements of Knightsbridge Building Solutions Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Knightsbridge Building Solutions Limited and its director for our work or for this report.
It is your duty to ensure that Knightsbridge Building Solutions Limited has kept adequate accounting records and to prepare statutory abridged financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Knightsbridge Building Solutions Limited. You consider that Knightsbridge Building Solutions 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 abridged financial statements of Knightsbridge Building Solutions 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 abridged financial statements.
CAS Chartered accountant
151 Askew Road London W12 9AU
Knightsbridge Building Solutions Limited
Abridged Statement of Financial Position
30 June 2017
2017
2016
Note
£
£
£
Current assets
Cash at bank and in hand
5,822
979
Creditors: amounts falling due within one year
7,401
739
-------
----
Net current (liabilities)/assets
( 1,579)
240
-------
----
Total assets less current liabilities
( 1,579)
240
-------
----
Net (liabilities)/assets
( 1,579)
240
-------
----
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 1,679)
140
-------
----
Shareholders (deficit)/funds
( 1,579)
240
-------
----
These abridged 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 abridged statement of comprehensive income has not been delivered.
For the year ending 30 June 2017 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 abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
These abridged financial statements were approved by the board of directors and authorised for issue on 27 March 2018 , and are signed on behalf of the board by:
Ms E Kletskaia
Director
Company registration number: 09651455
Knightsbridge Building Solutions Limited
Statement of Changes in Equity
Year ended 30 June 2017
Called up share capital
Profit and loss account
Total
£
£
£
At 1 July 2015
–
–
–
Profit for the year
140
140
----
----
----
Total comprehensive income for the year
–
140
140
Issue of shares
100
–
100
----
----
----
Total investments by and distributions to owners
100
–
100
At 30 June 2016
–
140
140
Loss for the year
( 1,819)
( 1,819)
----
-------
-------
Total comprehensive income for the year
–
( 1,819)
( 1,819)
Issue of shares
100
–
100
----
----
----
Total investments by and distributions to owners
100
–
100
----
-------
-------
At 30 June 2017
100
( 1,679)
( 1,579)
----
-------
-------
Knightsbridge Building Solutions Limited
Notes to the Abridged Financial Statements
Year ended 30 June 2017
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 151 Askew Road, London, W12 9AU.
2. Statement of compliance
These abridged 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 abridged 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 abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 July 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2016: 1 ).
5. Financial instruments at fair value
Enter your own text here for additional disclosures relating to financial instruments. For example, terms and conditions of long-term debt, the extent and nature of derivative instruments, including significant terms and conditions that may affect the amount, timing and certainty of future cash flows, and also the amount of any impairment loss for each class of financial asset.
6. Director's advances, credits and guarantees
At the year end the company owed Ms Kletskaia £1,718 (2016: £165).
7. Related party transactions
No dividends were paid to the director during the year.
8. Transition to FRS 102
These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 July 2015.
No transitional adjustments were required in equity or profit or loss for the year.