REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 7 MARCH 2019 TO 31 MARCH 2020 |
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KG ADMIN SERVICES LTD |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 7 MARCH 2019 TO 31 MARCH 2020 |
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KG ADMIN SERVICES LTD |
KG ADMIN SERVICES LTD (REGISTERED NUMBER: 11865506) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the period 7 March 2019 to 31 March 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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KG ADMIN SERVICES LTD |
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COMPANY INFORMATION |
for the period 7 March 2019 to 31 March 2020 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Magma House |
16 Davy Court |
Castle Mound Way |
Rugby |
CV23 0UZ |
KG ADMIN SERVICES LTD (REGISTERED NUMBER: 11865506) |
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BALANCE SHEET |
31 March 2020 |
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Notes | £ |
CURRENT ASSETS |
Debtors | 4 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | 6 |
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SHAREHOLDERS' FUNDS |
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The director acknowledges her responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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KG ADMIN SERVICES LTD (REGISTERED NUMBER: 11865506) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the period 7 March 2019 to 31 March 2020 |
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1. | STATUTORY INFORMATION |
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KG Admin Services Ltd is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements are prepared in sterling, which is the functional and presentational currency of the |
company. Monetary amounts in these financial statements are rounded to the nearest £. |
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Turnover |
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sale taxes. The following criteria must also be met before revenue is recognised: |
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Rendering of services |
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following condition are satisfied: |
- the amount of revenue can be measured reliably; |
- it is probable that the Company will receive the consideration due under the contract; |
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and |
- the costs incurred and the costs to complete the contract can be measured reliably. |
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Financial instruments |
(i) Financial assets |
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Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at |
transaction price, unless the arrangement constitutes as financing transaction, where the transaction is |
measured at the present value of the future receipts discounted at a market rate of interest. |
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Such assets are subsequently carried at amortised cost using the effective interest rate method. |
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(ii) Financial liabilities |
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Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless |
the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. |
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Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
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Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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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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 period 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. |
KG ADMIN SERVICES LTD (REGISTERED NUMBER: 11865506) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 7 March 2019 to 31 March 2020 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
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Other debtors |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Taxation and social security |
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Other creditors |
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6. | RESERVES |
Retained |
earnings |
£ |
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Profit for the period |
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At 31 March 2020 |
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7. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the period ended 31 March 2020: |
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£ |
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Balance outstanding at start of period |
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Amounts advanced |
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Amounts repaid |
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Amounts written off | - |
Amounts waived | - |
Balance outstanding at end of period |
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The maximum balance due was £42,295 and the loan was interest free. |
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8. | COVID-19 |
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At the balance sheet date, the world is in the middle of the COVID-19 outbreak which has resulted in uncertainties caused by the social and economic restrictions imposed globally. |
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The director has considered the effect this may have on the company, and although unclear what impact this will have they are informed by the government's guidance that the issue will be time limited. An estimate of the financial effect cannot therefore be made at this stage. The director has assessed the above and considers the company to be a going concern |