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Abridged Financial Statements for the Year Ended 31st December 2019 |
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Keri Systems UK Limited |
REGISTERED NUMBER:
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Abridged Financial Statements for the Year Ended 31st December 2019 |
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for |
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Keri Systems UK Limited |
Keri Systems UK Limited (Registered number: 03842772) |
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Contents of the Financial Statements |
for the Year Ended 31st December 2019 |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Keri Systems UK Limited |
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Company Information |
for the Year Ended 31st December 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Certified Accountants |
Grenville House |
4 Grenville Avenue |
Broxbourne |
Hertfordshire |
EN10 7DH |
Keri Systems UK Limited (Registered number: 03842772) |
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Abridged Balance Sheet |
31st December 2019 |
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31.12.19 | 31.12.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CAPITAL AND RESERVES |
Called up share capital | 5 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were authorised for issue by the Board of Directors and authorised for issue on
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Keri Systems UK Limited (Registered number: 03842772) |
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Notes to the Financial Statements |
for the Year Ended 31st December 2019 |
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1. | STATUTORY INFORMATION |
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Keri Systems UK Limited is a
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The company's registered number and registered office address can be found on the Company |
Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Revenue recognition |
Turnover is measured at the fair value of the consideration received or receivable, exclusive |
of discounts, rebates, value added tax and is recognised at the point of delivery. |
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Other income is measured at the fair value of the consideration received or receivable, exclusive of |
discounts, value added tax and is recognised at the point of invoicing. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, |
except to the extent that it relates to items recognised in other comprehensive income or directly in |
equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been |
enacted or substantively enacted by the balance sheet date. |
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Keri Systems UK Limited (Registered number: 03842772) |
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Notes to the Financial Statements - continued |
for the Year Ended 31st December 2019 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods |
different from those in which they are recognised in financial statements. Deferred tax is measured |
using tax rates and laws that have been enacted or substantively enacted by the year end and that |
are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is |
probable that they will be recovered against the reversal of deferred tax liabilities or other future |
taxable profits. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling |
at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of |
exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at |
the operating result. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the |
period of the lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the |
company's pension scheme are charged to profit or loss in the period to which they relate. |
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Going concern |
The financial statements have been prepared on a going concern basis which assumes continuity of |
the business for the foreseeable future. This basis may not be appropriate, as at the period end, the |
company's balance sheet shows net current liabilities of £ () (2018 £(81,455)) and net liabilities of |
£(71,403,) (2018 £(80,919)).The company has the continued financial support of the group including |
the ultimate parent company, Keri Systems Inc, a company registered in the U.S.A. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Keri Systems UK Limited (Registered number: 03842772) |
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Notes to the Financial Statements - continued |
for the Year Ended 31st December 2019 |
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4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1st January 2019 |
and 31st December 2019 |
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DEPRECIATION |
At 1st January 2019 |
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Charge for year |
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At 31st December 2019 |
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NET BOOK VALUE |
At 31st December 2019 |
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At 31st December 2018 |
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5. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.19 | 31.12.18 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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6. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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We draw your attention to note 2 - Going Concern - to the financial statements which describes of the |
uncertainty related to the continue trading of the company.Our opinion is not qualified in respect of |
this matter. |
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for and on behalf of
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7. | RELATED PARTY DISCLOSURES |
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Included within group undertaking there is an amount of £8,089, (2018 £8,089) owed to Keri Systems |
UK Limited.Included within group undertaking there is a balance owing to Keri Systems Inc. of |
£256,691 (2018 £268,426).Creating a net balance owed to Keri Systems Inc of £248,602 |
Keri Systems UK Limited (Registered number: 03842772) |
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Notes to the Financial Statements - continued |
for the Year Ended 31st December 2019 |
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8. | ULTIMATE CONTROLLING PARTY |
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The controlling party is Keri Systems Inc. |
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302 Enzo Drive |
Suite 190 |
San Jose |
CA 95138 USA |