Registration number:
Unaudited Abbreviated Accounts
for the Year Ended
KGM Rail & Mining Limited
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The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4 ) have been prepared.
Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
KGM Rail & Mining Limited
for the Year Ended 30 June 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of KGM Rail & Mining Limited for the year ended 30 June 2016 set out on pages from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html .
This report is made solely to the Board of Directors of KGM Rail & Mining Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of KGM Rail & Mining Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than KGM Rail & Mining Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that KGM Rail & Mining 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 KGM Rail & Mining Limited. You consider that KGM Rail & Mining Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of KGM Rail & Mining Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Accountants Plus
Chartered Certified Accountants
Upper Floor, Unit 1
82 Muir Street
Hamilton
Lanarkshire
ML3 6BJ
7 November 2016
KGM Rail & Mining Limited
(Registration number: SC303699)
Abbreviated Balance Sheet at 30 June 2016
Note |
2016
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2015
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Fixed assets |
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Tangible fixed assets |
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Current assets |
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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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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
( |
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Shareholders' deficit |
( |
( |
Approved by the Board on
.........................................
Mr Archibald Martin
Director
2
KGM Rail & Mining Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2016
......... continued
Accounting policies |
Basis of preparation
Going concern
The financial statements have been prepared on a going concern basis. The largest creditor is the directors who do not intend to withdraw there investment and support in the short term.
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Depreciation method and rate |
Plant and Equipment |
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Office Equipment |
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Deferred tax
Hire purchase and leasing
Financial instruments
KGM Rail & Mining Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2016
......... continued
Fixed assets |
Tangible assets
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Total
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Cost |
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At 1 July 2015 |
6,198 |
6,198 |
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At 30 June 2016 |
6,198 |
6,198 |
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Depreciation |
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At 1 July 2015 |
5,084 |
5,084 |
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Charge for the year |
354 |
354 |
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At 30 June 2016 |
5,438 |
5,438 |
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Net book value |
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At 30 June 2016 |
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At 30 June 2015 |
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Creditors |
Creditors includes the following liabilities, on which security has been given by the company:
2016
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2015
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Share capital |
Allotted, called up and fully paid shares
2016 |
2015 |
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No. |
£ |
No. |
£ |
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