Company Registration No. 08031650 (England and Wales)
KSIOLAJIDEBT LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2016
KSIOLAJIDEBT LTD
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2
Notes to the abbreviated accounts
3 - 4
KSIOLAJIDEBT LTD
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF KSIOLAJIDEBT LTD FOR THE YEAR ENDED 30 APRIL 2016
- 1 -
The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 have been prepared.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of KSIOlajidebt Ltd for the year ended 30 April 2016 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 member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of KSIOlajidebt Ltd, as a body, in accordance with the terms of our engagement letter
.
Our work has been undertaken solely to prepare for your approval the financial statements of KSIOlajidebt Ltd and state those matters that we have agreed to state to the Board of Directors of KSIOlajidebt Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than KSIOlajidebt Ltd and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that KSIOlajidebt Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of KSIOlajidebt Ltd. You consider that KSIOlajidebt Ltd 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 financial statements of KSIOlajidebt Ltd. 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 financial statements.
Carpenter Box
13 January 2017
Chartered Accountants
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1QR
KSIOLAJIDEBT LTD
ABBREVIATED BALANCE SHEET
AS AT
30 APRIL 2016
30 April 2016
- 2 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
28,729
43,897
Investments
2
10
10
28,739
43,907
Current assets
Debtors
740,366
113,769
Cash at bank and in hand
775,261
1,128,276
1,515,627
1,242,045
Creditors: amounts falling due within one year
(249,613)
(228,002)
Net current assets
1,266,014
1,014,043
Total assets less current liabilities
1,294,753
1,057,950
Provisions for liabilities
(1,500)
(6,500)
1,293,253
1,051,450
Capital and reserves
Called up share capital
3
1
1
Profit and loss account
1,293,252
1,051,449
Shareholders' funds
1,293,253
1,051,450
For the financial year ended 30 April 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 13 January 2017
Mr O O W Olatunji
Director
Company Registration No. 08031650
KSIOLAJIDEBT LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2016
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Turnover
Turnover represents amounts receivable for services net of VAT .
.
1.3
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment
25% Per annum on a straight line basis
Fixtures, fittings & equipment
25% Per annum on a straight line basis
1.4
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.5
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost
At 1 May 2015
80,058
10
80,068
Additions
5,645
-
5,645
At 30 April 2016
85,703
10
85,713
Depreciation
At 1 May 2015
36,161
-
36,161
Charge for the period
20,813
-
20,813
At 30 April 2016
56,974
-
56,974
Net book value
At 30 April 2016
28,729
10
28,739
At 30 April 2015
43,897
10
43,907
KSIOLAJIDEBT LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2016
- 4 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1 Ordinary share of £1 each
1
1