Kenwell Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03363690 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

KENWELL PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs M J Claydon

R Claydon

S Claydon

SECRETARY:

Mrs M J Claydon

REGISTERED OFFICE:

5 Fourth Avenue

Bluebridge Industrial Estate

Halstead

Essex

CO9 2SY

REGISTERED NUMBER:

03363690 (England and Wales)

ACCOUNTANTS:

RE Group Accountants Limited

Chartered Certified Accountants

The Maltings

Rosemary Lane

Halstead

Essex

CO9 1HZ

FIXED ASSETS

Tangible assets

4

-

110

Investments

5

101

101

Investment property

6

1,365,969

1,365,969

1,366,070

1,366,180

CURRENT ASSETS

Debtors

7

916,962

1,010,609

Cash at bank

134,520

44,474

1,051,482

1,055,083

CREDITORS

Amounts falling due within one year

8

131,809

146,659

NET CURRENT ASSETS

919,673

908,424

TOTAL ASSETS LESS CURRENT LIABILITIES

2,285,743

2,274,604

CREDITORS

Amounts falling due after more than one year

9

138,466

453,931

NET ASSETS

2,147,277

1,820,673

CAPITAL AND RESERVES

Called up share capital

11

200

200

Revaluation reserve

12

139,001

139,001

Capital redemption reserve

718,000

718,000

Retained earnings

1,290,076

963,472

SHAREHOLDERS' FUNDS

2,147,277

1,820,673

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

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

The directors acknowledge their 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors on 10 September 2019 and were signed on its behalf by:

S Claydon - Director

1.	STATUTORY INFORMATION

Kenwell Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

The company's turnover represents the value, excluding value added tax, of goods and services supplied to

customers during the year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2018

and 31 December 2018

10,280

DEPRECIATION

At 1 January 2018

10,170

Charge for year

110

At 31 December 2018

10,280

NET BOOK VALUE

At 31 December 2018

-

At 31 December 2017

110

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2018

and 31 December 2018

101

NET BOOK VALUE

At 31 December 2018

101

At 31 December 2017

101

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2018

and 31 December 2018

1,365,969

NET BOOK VALUE

At 31 December 2018

1,365,969

At 31 December 2017

1,365,969

Fair value at 31 December 2018 is represented by:

£

Valuation in 2014

(60,000

)

Valuation in 2015

20,498

Cost

1,405,471

1,365,969

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

2018

2017

£

£

Cost

1,226,968

1,226,968

Investment property was valued on an open market basis on 31 December 2017 by the directors of the company

.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Amounts owed by group undertakings

822,079

815,224

Other debtors

94,883

195,385

916,962

1,010,609

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

39,840

45,103

Trade creditors

-

960

Taxation and social security

32,698

29,310

Other creditors

59,271

71,286

131,809

146,659

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

138,466

453,931

Amounts falling due in more than five years:

Repayable by instalments

Bank loans repayable by instalments in more than five years

30,461

255,710

10.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

178,306

499,034

The bank loans are secured against Units 3 and 5, Fourth Avenue, Bluebridge Industrial Estate, Halstead,

Essex. Unit 3 is included within investment property and Unit 5 is included within freehold property. The loans

are also secured by a life charge in respect of Mr T P Claydon, Mr S K Claydon and Mr R Claydon dated 22

January 1999. The amount secured falling due within one year is £39,840 included in bank loans and

overdrafts. The amount secured falling due after more than one year is £138,466, included in bank loans.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

52

Ordinary "A"

£1

52

52

52

Ordinary "B"

£1

52

52

48

Ordinary "C"

£1

48

48

48

Ordinary "D"

£1

48

48

200

200

12.

RESERVES

Revaluation

reserve

£

At 1 January 2018

and 31 December 2018

139,001