For the year ended 31 August 2015
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 08636362
Kingdom Futures Limited
For the year ended 31 August 2015
1
Accountant's Report
2
Balance Sheet
3 to 4
Notes to the Abbreviated Financial Statements
Kingdom Futures Limited
Accountant's Report
For the year ended 31 August 2015
In order to assist you to fulfil your duties under Companies Act
2006
,
we have prepared for your
|
approval the accounts of Kingdom Futures Limited for the year ended
31
August
2015
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 firm of the Association of Chartered Certified Accountants
,
we are subject to its ethical
|
and other professional requirements which are detailed at http
://
rulebook
.
accaglobal
.
com
.
|
This report is made solely to the Board of Directors of Kingdom Futures Limited
,
as a body
,
in
|
accordance with the terms of our engagement letter dated
4
February
2015
.
Our work has been
|
undertaken solely to prepare for your approval the accounts of Kingdom Futures Limited and state
|
those matters that we have agreed to state to the Board of Directors of Kingdom Futures Limited
,
as a
|
body
,
in this report in accordance with the requirements of the Association of Chartered Certified
|
Accountants and as detailed at http
://
www
.
accaglobal
.
com
/
factsheet
163
.
To the fullest extent
|
permitted by law
,
we do not accept or assume responsibility to anyone other than Kingdom Futures
|
Limited and its Board of Directors as a body for our work or for this report
.
|
It is your duty to ensure that Kingdom Futures Limited has kept adequate accounting records and to
|
prepare statutory accounts that give a true and fair view of the assets
,
liabilities
,
financial position and
|
loss of Kingdom Futures Limited
.
You consider that Kingdom Futures Limited is exempt from the
|
statutory audit requirement for the year
.
|
HELSIN Finance Ltd
26 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4AE
21 December 2015
1 of 4
Notes to the Abbreviated Financial Statements
|
Kingdom Futures Limited
For the year ended 31 August 2015
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
|
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
|
Rentals payable under operating leases are charged against income on a straight line basis over the lease
|
term
.
|
Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted.Deferred tax assets are only recognised if it is more likely than not that they will be recovered either against future taxable profits or against the reversal of other deferred tax liabilities.
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Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
|
Plant and Machinery
Fixtures and Fittings
3 of 4
Notes to the Abbreviated Financial Statements
|
Kingdom Futures Limited
For the year ended 31 August 2015
2,230
341
2,571
558
586
Charge for year
1,144
1,427
1,672
Allotted called up and fully paid
|
2015
2014
1
,
000
Ordinary Shares shares of £
1
.
00
each
|
1,000
1,000
50
,
000
Preference Shares shares of £
1
.
00
each
|
40,000
50,000
51,000
41,000
10000 Preference Shares £1.00 shares have been issued during the year at par for a cash consideration of £10000.
|
4 of 4