Registration number:
KM Capital Investment Limited
for the Period from 1 December 2016 to 31 March 2018
Progress House
396 Wilmslow Road
Withington
Manchester
M20 3BN
KM Capital Investment Limited
Contents
Company Information |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
KM Capital Investment Limited
Company Information
Directors |
Mr Adam Mahmud Kamani Mr Stephen Morana Mr Mahesh Patel |
Registered office |
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Accountants |
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Page 1 |
KM Capital Investment Limited
(Registration number: 09314829)
Balance Sheet as at 31 March 2018
Note |
2018 |
2016 |
|
Fixed assets |
|||
Investments |
1,275,713 |
- |
|
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
- |
|
|
|
||
Creditors: Amounts falling due within one year |
( |
- |
|
Net current (liabilities)/assets |
( |
|
|
Net (liabilities)/assets |
( |
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Profit and loss account |
( |
- |
|
Total equity |
( |
|
For the financial period ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
......................................... |
Page 2 |
KM Capital Investment Limited
Statement of Changes in Equity for the Period from 1 December 2016 to 31 March 2018
Share capital |
Profit and loss account |
Total |
|
At 1 December 2016 |
|
- |
|
Loss for the period |
- |
( |
( |
Total comprehensive income |
- |
( |
( |
New share capital subscribed |
|
- |
|
At 31 March 2018 |
|
( |
( |
Share capital |
Total |
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At 1 December 2015 |
|
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At 30 November 2016 |
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The profit and loss reserve includes the fair value adjustments on investments held at the year, the balance at the year end stands at £(124,643), (2016: £Nil).
Page 3 |
KM Capital Investment Limited
Notes to the Financial Statements for the Period from 1 December 2016 to 31 March 2018
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis.
The directors have a reasonable expectation that the company has adequate resources and support to continue in operational existence for the foreseeable future. Therefore they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Page 4 |
KM Capital Investment Limited
Notes to the Financial Statements for the Period from 1 December 2016 to 31 March 2018
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Page 5 |
KM Capital Investment Limited
Notes to the Financial Statements for the Period from 1 December 2016 to 31 March 2018
Financial instruments
Classification
Recognition and measurement
All other financial instruments are initially recognised at fair value, which is normally the transaction price. Other financial instruments are subsequently measured at fair value with any changes in the fair value recorded in the profit and loss account.
Impairment
Page 6 |
KM Capital Investment Limited
Notes to the Financial Statements for the Period from 1 December 2016 to 31 March 2018
Investments |
Financial assets at fair value through profit and loss |
Financial assets at cost less impairment |
Total |
|
Non-current financial assets |
|||
Cost or valuation |
|||
Fair value adjustments |
(124,643) |
- |
(124,643) |
Additions |
808,303 |
799,063 |
1,607,366 |
Disposals |
(207,010) |
- |
(207,010) |
At 31 March 2018 |
476,650 |
799,063 |
1,275,713 |
Impairment |
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Carrying amount |
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At 31 March 2018 |
|
|
1,275,713 |
Debtors |
2018 |
2016 |
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Other debtors |
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Other debtors includes convertible loan notes in the amount of £210,000 (2016: £NIl), in unquoted companies. The company has obtained security on £60,000 (2016: £NIl) of the convertible loan notes in the form of a registered charge over the issuing companies assets.
Page 7 |
KM Capital Investment Limited
Notes to the Financial Statements for the Period from 1 December 2016 to 31 March 2018
Creditors |
Creditors: amounts falling due within one year
Note |
2018 |
2016 |
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Due within one year |
|||
Loans and overdrafts |
|
- |
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Accruals and deferred income |
|
- |
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Other creditors |
|
- |
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|
- |
Share capital |
Allotted, called up and not fully paid shares
2018 |
2016 |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
3 |
New shares allotted
During the period 97 Ordinary Shares having an aggregate nominal value of £97 were allotted for an aggregate consideration of £1 per share. There was an issue of shares during the period to allow for shareholdings to be divided between shareholders as required.
Page 8 |
KM Capital Investment Limited
Notes to the Financial Statements for the Period from 1 December 2016 to 31 March 2018
Loans and borrowings |
2018 |
2016 |
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Current loans and borrowings |
||
Bank overdrafts |
|
- |
Other borrowings |
|
- |
|
- |
Financial instruments |
Categorisation of financial instruments
2018 |
2016 |
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Financial assets measured at fair value through profit or loss |
|
- |
Financial assets that are debt instruments measured at amortised cost |
|
- |
Financial assets that are equity instruments measured at cost less impairment |
|
- |
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- |
Financial assets measured at fair value
Listed Shares
The basis for determining fair value for the listed shares held by the company is the quoted market price at the period end as published in the active markets.
The fair value is £476,650
(2016 - £Nil)
and the change in value included in profit or loss is
£
(124,643)
(2016 - £Nil)
.
Page 9 |