KDM SHIPPING PUBLIC LIMITED REPORT AND FINANCIAL STATEMENTS
For the year ended 31 December 2016
KDM Shipping Public LimitedREPORT AND FINANCIAL STATEMENTS
For the year ended 31 December 2016
C O N T E N T S
Page
Officers and Professional Advisors Management Report
Independent Auditors' report
Statement of profit or loss and other comprehensive income Statement of financial position
Statement of changes in equity Statement of cash flows
Notes to the financial statements Additional Information
I
2 - 4
5 - 8
9
10
11
12
13 - 26
KDM Shipping Public LimitedOFFICERS AND PROFESSIONAL ADVISORS
Board of Directors
Secretary
Independent Auditors Bankers
Registered Office
Kostiantyn Moloclkovets - Executive Director, CEO Denys Molodkovets - Executive Director, CFO
Boomer Secretarial Limited KPMG Limited
UBS AG
AS RIETUMU BANKA
3 Michael KoutsoftaStr. 3031, Limassol
Cyprus
2
KDM Shipping Public Limited MANAGEMENT REPORT
The Board of Directors of KDM Shipping Public Limited (the "Company") presents to the members its Annual Report together with the audited financial statements of the Company for the year ended 31 December 2016.
PRINCIPAL ACTMTIES AND NATURE OF OPERATIONS OF THE COMPANY
The principal activity of the Company which remained the same as in the previous year is the holding of investments in ship management entities situated in Ukraine and Panama.
FINANCIAL RESULTS
The Company's financial results for the year ended 31 December 2016 are set out on page 9 to the financial statements. The net loss for the year attributable to the owners of the Company amounted to US$181.217 (2015: US$161.194 loss).
EXAMINATION OF THE DEVELOPMENT, POSITION AND PERFORMANCE OF THE ACTMTIES OF THE COMPANY
The current financial position as presented in the financial statements is not considered satisfactory and the Board of Directors is making an effort to reduce the Company losses.
DMDENDS
The Board of Directors does not recommend the payment of a dividend. MAIN RISKS AND UNCERTAINTIES
The main risks and uncertainties faced by the Company and the steps taken to manage these risks, are described in note 15 to the financial statements.
USE OF FINANCIAL INSTRUMENTS BY THE COMPANY
The Company is exposed to interest rate risk, credit risk and dividends from the financial instruments it holds.
INTEREST RATE RISK
Interest rate risk is the risk that the value of financial instruments will fluctuate due to changes in market interest rates. Borrowings issued at variable rates expose the Company to cash flow interest rate risk. Borrowings issued at fixed rates expose the Company to fair value interest rate risk. Company's management monitors the interest rate fluctuations on a continuous basis and acts accordingly.
KDM Shipping Public Limited published this content on 17 July 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 17 July 2017 07:52:20 UTC.
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