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

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

KERION PROPERTIES LIMITED - Company Information

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REGISTERED NUMBER: 04737310 (England and Wales)









Financial Statements

for the Year Ended 31 March 2019

for

Kerion Properties Limited
Kerion Properties Limited (Registered number: 04737310)






Contents of the Financial Statements
for the Year Ended 31 March 2019




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Kerion Properties Limited

Company Information
for the Year Ended 31 March 2019







DIRECTORS: Mrs A Mehra
V Mehra





SECRETARY: Mrs A Mehra





REGISTERED OFFICE: C/o Parker Cavendish
28 Church Road
Stanmore
Middlesex
HA7 4XR





REGISTERED NUMBER: 04737310 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
28 Church Road
Stanmore
Middlesex
HA7 4XR
1
Kerion Properties Limited (Registered number: 04737310)

Statement of Financial Position
31 March 2019

2019 2018
Notes £    £   
FIXED ASSETS
Investment property 4 5,118,083 5,118,083

CURRENT ASSETS
Debtors 5 1,106,129 1,040,613
Cash at bank 166,414 126,548
1,272,543 1,167,161
CREDITORS
Amounts falling due within one year 6 (59,322 ) (71,120 )
NET CURRENT ASSETS 1,213,221 1,096,041
TOTAL ASSETS LESS CURRENT
LIABILITIES
6,331,304
6,214,124

CREDITORS
Amounts falling due after more than one
year
7
(2,572,500
)
(2,572,500
)

PROVISIONS FOR LIABILITIES (370,829 ) (370,829 )
NET ASSETS 3,387,975 3,270,795

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 9 3,386,975 3,269,795
SHAREHOLDERS' FUNDS 3,387,975 3,270,795

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 notes form part of these financial statements

2 continued...
Kerion Properties Limited (Registered number: 04737310)

Statement of Financial Position - continued
31 March 2019


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 3 December 2019 and were signed on
its behalf by:





V Mehra - Director


The notes form part of these financial statements

3
Kerion Properties Limited (Registered number: 04737310)

Notes to the Financial Statements
for the Year Ended 31 March 2019

1. STATUTORY INFORMATION

Kerion 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
Income comprises rent receivable from investment properties net of value added tax and is recognised
on an accruals basis.

Investment property
Initial measurement
Investment properties are initially measured at cost.

Subsequent measurement
Investment properties are measured at fair value at each reporting date with changes in fair values
recognised in profit or loss. No depreciation is provided in respect of investment properties.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of
Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not
reversed at the statement of financial position 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 NIL (2018 - NIL).

4 continued...
Kerion Properties Limited (Registered number: 04737310)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2019

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2018
and 31 March 2019 5,118,083
NET BOOK VALUE
At 31 March 2019 5,118,083
At 31 March 2018 5,118,083

Fair value at 31 March 2019 is represented by:

£   
Valuation in 2005 59,552
Valuation in 2007 786,504
Valuation in 2008 650,000
Valuation in 2012 1,000,000
Valuation in 2014 (9,163 )
Valuation in 2016 250,000
Cost 2,381,190
5,118,083

If the investment properties had not been revalued they would have been included at the following
historical cost:

2019 2018
£    £   
Cost 2,381,190 2,381,190

The investment properties were valued on an open market basis on 31 March 2019 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade debtors 323 1,323
Other debtors 1,097,317 1,036,881
Prepayments & accrued income 8,489 2,409
1,106,129 1,040,613

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade creditors - 1,334
Tax 27,487 28,211
Other creditors 9,601 9,601
Accruals & deferred income 22,234 31,974
59,322 71,120

5 continued...
Kerion Properties Limited (Registered number: 04737310)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2019

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2019 2018
£    £   
Bank loans over 5 years 2,572,500 2,572,500

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans over 5 years 2,572,500 2,572,500

The current loan commenced on 1 June 2017 and under the terms, the lender has the option to call in
the loan on the fifth anniversary of commencement.

8. SECURED DEBTS

The following secured debts are included within creditors:

2019 2018
£    £   
Bank loans 2,572,500 2,572,500

9. RESERVES

The retained earnings of £3,386,975 (2018: £3,269,795) comprise of distributable reserves of
£1,020,911 (2018: £903,731) and non-distributable reserves of £2,366,064 (2018: £2,366,064) which
relate to property revaluations less related deferred tax provision.

10. CAPITAL COMMITMENTS
2019 2018
£    £   
Contracted but not provided for in the
financial statements 458,302 524,100

6