Company registration number 09641054 (England and Wales)
KR MORTGAGE SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022
PAGES FOR FILING WITH REGISTRAR
KR MORTGAGE SERVICES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
KR MORTGAGE SERVICES LIMITED (REGISTERED NUMBER: 09641054)
BALANCE SHEET
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
774
1,209
Current assets
Debtors
4
42,587
31,502
Creditors: amounts falling due within one year
5
(36,182)
(28,097)
Net current assets
6,405
3,405
Total assets less current liabilities
7,179
4,614
Creditors: amounts falling due after more than one year
6
(4,460)
(2,662)
Provisions for liabilities
(147)
(230)
Net assets
2,572
1,722
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
2,472
1,622
Total equity
2,572
1,722
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 June 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
KR MORTGAGE SERVICES LIMITED (REGISTERED NUMBER: 09641054)
BALANCE SHEET (CONTINUED)
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 15 December 2023
Mr K Ramdeo
Director
KR MORTGAGE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022
- 3 -
1
Accounting policies
Company information
KR Mortgage Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4th Floor, 399-401 Strand, London, WC2R 0LT.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computer equipment
25% on straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
KR MORTGAGE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2022
1
Accounting policies
(Continued)
- 4 -
1.6
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
1
1
3
Tangible fixed assets
Computer equipment
£
Cost
At 1 July 2021 and 30 June 2022
5,515
Depreciation and impairment
At 1 July 2021
4,306
Depreciation charged in the year
435
At 30 June 2022
4,741
Carrying amount
At 30 June 2022
774
At 30 June 2021
1,209
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Other debtors
42,587
31,502
KR MORTGAGE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2022
- 5 -
5
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
3,886
7,829
Trade creditors
6,171
932
Taxation and social security
23,529
14,253
Other creditors
2,596
5,083
36,182
28,097
6
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
4,460
2,662
7
Director's transactions
As at the balance sheet date, there was an overdrawn directors' loan account balance of £32,063 (2021 - £23,775), this includes interest charged £751 (2021 - £537), this balance is included within other debtors.