Registered Number 07776343
KINETIC AIR LIMITED
Abbreviated Accounts
31 March 2015
Notes | 2015 | 2014 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Debtors |
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Creditors: amounts falling due within one year |
( |
( |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
( |
( |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 3 |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Other accounting policies
Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors, net of the finance charge allocated to future periods. The finance element of the rental payment is charge to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all its liabilities. Where shares are issued, any component that creates a financial liability of the component is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charges as interest expense in the profit and loss account.
£ | |
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Cost | |
At 1 April 2014 |
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Additions |
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Disposals |
( |
Revaluations |
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Transfers |
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At 31 March 2015 |
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Depreciation | |
At 1 April 2014 |
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Charge for the year |
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On disposals |
( |
At 31 March 2015 |
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Net book values | |
At 31 March 2015 | 31,537 |
At 31 March 2014 | 17,293 |
4 Transactions with directors
Name of director receiving advance or credit: |
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Description of the transaction: |
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Balance at 1 April 2014: | £ |
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Advances or credits made: |
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Advances or credits repaid: | £ |
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Balance at 31 March 2015: | £ |
Name of director receiving advance or credit: |
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Description of the transaction: |
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Balance at 1 April 2014: |
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Advances or credits made: | £ |
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Advances or credits repaid: |
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Balance at 31 March 2015: | £ |