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Abridged Financial Statements for the Year Ended 31st December 2021 |
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Keri Systems UK Limited |
REGISTERED NUMBER:
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Abridged Financial Statements for the Year Ended 31st December 2021 |
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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 2021 |
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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 2021 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Certified Accountants |
Statutory Auditors |
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 2021 |
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31.12.21 | 31.12.20 |
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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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 approved 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 2021 |
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1. | STATUTORY INFORMATION |
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Keri Systems UK Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Significant judgements and estimates |
There were no significant judgements and estimates made by management in the preparation of 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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Government grants |
Government grants are recognised in profit or loss on a systematic basis over the periods in which the entity recognises expenses for the related costs for which the grants are intended to compensate, loans are presented in the balance sheet in current liabilities. |
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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 2021 |
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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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Contributions payable to the company's auto enrolment 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 £ (193,823) - (2020 £(114,476)).The trading loss and net deficit and the fact that these events or condition constitute material uncertainty, the company has the continued financial support of 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 2021 |
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4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1st January 2021 |
and 31st December 2021 |
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DEPRECIATION |
At 1st January 2021 |
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Charge for year |
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At 31st December 2021 |
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NET BOOK VALUE |
At 31st December 2021 |
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At 31st December 2020 |
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5. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.21 | 31.12.20 |
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 attention to Note 2 in the financial statements, which indicates that the company incurred a net loss of £73,847 during the year ended 31 December 2021 and, as of that date, the company's current liabilities exceeded its total assets by £193,823. As stated in Note 2, these events or conditions indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter. |
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In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
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Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
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for and on behalf of
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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 2021 |
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7. | 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 |