Kingston Properties (London) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03238753 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 August 2018

for

Kingston Properties (London) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

B R O'Brien

REGISTERED OFFICE:

Alton House

66/68 High Street

Northwood

Middlesex

HA6 1BL

REGISTERED NUMBER:

03238753 (England and Wales)

ACCOUNTANTS:

Munday Long & Co Limited

Chartered Certified Accountants

Alton House

66/68 High Street

Northwood

Middlesex

HA6 1BL

FIXED ASSETS

Investments

4

1

-

Investment property

5

3,080,000

3,295,000

3,080,001

3,295,000

CURRENT ASSETS

Stocks

1,522,403

-

Debtors

6

1,487,008

615,642

Cash at bank

55,318

798,553

3,064,729

1,414,195

CREDITORS

Amounts falling due within one year

7

2,115,271

297,614

NET CURRENT ASSETS

949,458

1,116,581

TOTAL ASSETS LESS CURRENT LIABILITIES

4,029,459

4,411,581

CREDITORS

Amounts falling due after more than one year

8

(2,128,376

)

(2,121,358

)

PROVISIONS FOR LIABILITIES

10

(157,786

)

(203,872

)

NET ASSETS

1,743,297

2,086,351

CAPITAL AND RESERVES

Called up share capital

5

5

Retained earnings

1,743,292

2,086,346

SHAREHOLDERS' FUNDS

1,743,297

2,086,351

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 20 February 2019 and were signed by:

B R O'Brien - Director

1.	STATUTORY INFORMATION

Kingston Properties (London) Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

The financial statements contain information about Kingston Properties (London) Limited as an individual

company and do not contain consolidated financial information as the parent of a group. The company is exempt

under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial

statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

1

At 31 August 2018

1

NET BOOK VALUE

At 31 August 2018

1

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2017

3,295,000

Revaluations

(215,000

)

At 31 August 2018

3,080,000

NET BOOK VALUE

At 31 August 2018

3,080,000

At 31 August 2017

3,295,000

Fair value at 31 August 2018 is represented by:

£

Valuation in 2018

3,080,000

If investment property had not been revalued it would have been included at the following historical cost:

31.8.18

31.8.17

£

£

Cost

1,503,576

1,503,576

Investment property was valued on an open market value basis on 31 August 2018 by the director and the managing agents

.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.18

31.8.17

£

£

Amounts owed by group undertakings

1,361,569

-

Amounts owed by joint ventures

-

466,257

Other debtors

21,904

147,831

Prepayments

103,535

1,554

1,487,008

615,642

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.18

31.8.17

£

£

Other loans

1,863,928

-

Trade creditors

943

1,281

Taxation

47,203

107,960

Other creditors

2,600

-

Directors' current accounts

41

5,770

Accruals and deferred income

200,556

182,603

2,115,271

297,614

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.18

31.8.17

£

£

Bank loan

1,998,376

1,991,358

Other loans - 2-5 years

130,000

130,000

2,128,376

2,121,358

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loan

1,998,376

1,991,358

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.8.18

31.8.17

£

£

Bank loans

1,998,376

1,991,358

Other loans

875,000

-

2,873,376

1,991,358

10.	PROVISIONS FOR LIABILITIES

31.8.18

31.8.17

£

£

Deferred tax

Revaluation of investment

property

157,786

203,872

157,786

203,872

Deferred

tax

£

Balance at 1 September 2017

203,872

Provided during year

(46,086

)

Balance at 31 August 2018

157,786