Kiwi Estates Ltd - Accounts to registrar (filleted) - small 18.2
Kiwi Estates Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| FOR |
| KIWI ESTATES LTD |
| KIWI ESTATES LTD (REGISTERED NUMBER: 04607893) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| KIWI ESTATES LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| Solar House |
| 282 Chase Road |
| London |
| N14 6NZ |
| KIWI ESTATES LTD (REGISTERED NUMBER: 04607893) |
| BALANCE SHEET |
| 31 DECEMBER 2018 |
| 31.12.18 | 31.12.17 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 3 |
| CURRENT ASSETS |
| Stocks | 4 |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 8 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | 9 |
| SHAREHOLDERS' FUNDS |
| 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. |
| KIWI ESTATES LTD (REGISTERED NUMBER: 04607893) |
| BALANCE SHEET - continued |
| 31 DECEMBER 2018 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the director on |
| KIWI ESTATES LTD (REGISTERED NUMBER: 04607893) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| 1. | STATUTORY INFORMATION |
| Kiwi Estates Ltd is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents amounts derived from the sale of development properties to customers during the year and is |
| recognised at the date the risks and rewards of ownership of goods were transferred to the customer. |
| 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 - work in progress |
| Work in progress (WIP) is stated at the lower of cost and net realisable value, being the estimated selling price |
| less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Costs include |
| include labour and attributable overheads. |
| At each reporting date, WIP is assessed for impairment. If an impairment is identified, the carrying amount is |
| reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in |
| profit or loss. |
| 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. |
| KIWI ESTATES LTD (REGISTERED NUMBER: 04607893) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| 3. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 January 2018 |
| Additions |
| At 31 December 2018 |
| NET BOOK VALUE |
| At 31 December 2018 |
| At 31 December 2017 |
| Fair value at 31 December 2018 is represented by: |
| £ |
| Valuation in 2010 | 701,027 |
| Valuation in 2014 | 1,701,669 |
| Valuation in 2016 | (25,000 | ) |
| Valuation in 2017 | 131,277 |
| Cost | 3,988,304 |
| 6,497,277 |
| 4. | STOCKS |
| 31.12.18 | 31.12.17 |
| £ | £ |
| Work-in-progress |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.18 | 31.12.17 |
| £ | £ |
| Debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.18 | 31.12.17 |
| £ | £ |
| Trade creditors |
| Tax |
| VAT |
| Other creditors |
| Directors' current accounts | - | 32,018 |
| Accrued expenses |
| KIWI ESTATES LTD (REGISTERED NUMBER: 04607893) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.12.18 | 31.12.17 |
| £ | £ |
| Amounts owed to ultimate |
| controlling party | 2,780,265 | 2,790,989 |
| Bank loans - 2-5 years |
| The bank loans are secured by first legal charges on some of the company's properties. |
| 8. | PROVISIONS FOR LIABILITIES |
| 31.12.18 | 31.12.17 |
| £ | £ |
| Deferred tax | 238,614 | 242,673 |
| Deferred |
| tax |
| £ |
| Balance at 1 January 2018 |
| Credit to Income Statement during year | ( |
) |
| Balance at 31 December 2018 |
| 9. | RESERVES |
| 31.12.18 | 31.12.17 |
| £ | £ |
| Distributable reserves | 2,194,616 | 2,029,152 |
| Non-distributable reserves | 2,270,359 | 2,266,300 |
| At 31 December | 4,464,975 | 4,295,452 |
| 10. | RELATED PARTY DISCLOSURES |
| 11. | ULTIMATE CONTROLLING PARTY |
| The company is controlled by Mr J J Devereux, the managing director, as a result of controlling directly or |
| indirectly 100 % of the issued ordinary share capital. |