KARA Asset Management Limited

KARA ASSET MANAGEMENT LIMITED

BERLIN

Jahresabschluss zum Geschäftsjahr vom 01.01.2012 bis zum 31.12.2012

ABBREVIATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31/12/2012

Company No: 6396269

CONTENTS

Abbreviated balance sheet

Notes to the abbreviated accounts

ABBREVIATED BALANCE SHEET AS AT 31/12/2012

For the year ending 31/12/2012 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 accounts for the year in question an 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 accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the board of directors on ...................... (date)

and

signed on their behalf by

NOTES TO THE ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31/12/2012

1. ACCOUNTING POLICIES

Basis of accounting

There have been no changes in accounting policies during the year. The accounts have been prepared under the historical cost convention and with the Financial Standard for Smaller Entities (FRSSE, effective April 2008).

The company has taken advantage of the exemptions in the Financial Reporting Standard No 1 from the requirement to produce a cash flow statement on the grounds that it is a small company.

Currency

The business of the company and its total transactions are conducted exclusively in the currency of European EURO. Therefore all relevant information available as at 31/12/2012 had to be translated into British £ applying the exchange rate circulated by the Bank of England regarding the accounting reference date. To the extent this report also includes accounts subject to reports filed with the Companies House of preceeding financial years this could lead to differences according to a change of exchange rates between the present and preceeding accounting reference dates. Where such differences occur they are explicitely shown in the report.

Turnover

Turnover comprises the value of sales excluding value added tax and trade discounts.

Intangible and tangible fixed assets and depreciation

The Company did not own assets within the respective accounting period to be depreciated.

2. SHARE CAPITAL

3. LOSS PREVIOUS YEAR