ACCOUNTS - Final Accounts

KINGSTONS HOMES LIMITED - Company Information

Company registration number: 01009757

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 MARCH 2019

	KINGSTONS HOMES LIMITED


KINGSTONS HOMES LIMITED REGISTERED NUMBER:01009757

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2019

		2019		2018
Note		£		£


Current assets
Stocks		204,932		202,563
Debtors: amounts falling due within one year	4	269,040		328,891
Cash at bank and in hand		34,060		25,061
		508,032		556,515
Creditors: amounts falling due within one year	5	(94,395)		(151,965)
Net current assets			413,637		404,550
Total assets less current liabilities			413,637		404,550

Net assets			413,637		404,550

Capital and reserves
Called up share capital	711	711
Profit and loss account	412,926	403,839
	413,637	404,550

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 November 2019.

P Hickman

Director

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KINGSTONS HOMES LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2019

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 April 2017	700	406,844	407,544
Comprehensive income for the year
Loss for the year	-	(2,994)	(2,994)
Other comprehensive income for the year	-	-	-
Total comprehensive income for the year	-	(2,994)	(2,994)
Capitalisation/bonus issue	-	(11)	(11)
Shares issued during the year	11	-	11
Total transactions with owners	11	(11)	-

At 1 April 2018	711	403,839	404,550
Comprehensive income for the year
Profit for the year	-	9,087	9,087
Other comprehensive income for the year	-	-	-
Total comprehensive income for the year	-	9,087	9,087
Total transactions with owners	-	-	-
At 31 March 2019	711	412,926	413,637

The notes on pages 3 to 4 form part of these financial statements.

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KINGSTONS HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

1.	General information

These financial statements have been prepared in compliance with FRS102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
Kingstons Homes Limited is a private company limited by shares, registered in England and Wales. The address of its registered office is Midas House, 62 Goldsworth Road, Woking, Surrey, GU21 6LQ.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Consolidation

n the opinion of the directors, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts.

2.3

Turnover

The turnover shown in the profit and loss account represents amounts receivable for the year, exclusive of Value Added Tax.

2.4

Taxation

Tax is recognised in the Statement of Comprehensive Income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

2.5

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Stocks is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any of foreseeable losses where appropriate.

2.6

Post retirement benefits

The company has agreed to provide certain additional post-retirement benefits to selected senior employees. The estimated cost of providing such benefits is charged against profits on a systematic basis over the employees' working lives within the company.

2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

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KINGSTONS HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

Employees

The average monthly number of employees, including directors, during the year was 3 (2018 - 3).

Debtors

					2019	2018
					£	£


Trade debtors	1,218	2,548
Amounts owed by joint ventures and associated undertakings	251,086	318,886
Other debtors	16,736	7,457
	269,040	328,891

5.	Creditors: Amounts falling due within one year
		2019	2018
		£	£

Bank overdrafts	-	26,365
Corporation tax	974	-
Other creditors	89,896	121,601
Accruals and deferred income	3,525	3,999
	94,395	151,965

The following liabilities were secured:

Details of security provided:

The company's bank loan and overdraft facilities are secured against fixed and floating charges against the development properties held in stock.
A further charge is held in the sum of £11,901 in favour of Messrs R A Gorringe and H B Kingston aganist one of the properties held in stock.

6.	Related party transactions
	The director's loan account of Mr P Hickman was in credit by £49,874 (2018: £93,873) at the year end. The company was owed £251,086 (2018: £318,886) from Gravitas 1061 Limited, a company in which Mr P Hickman and Mr T P Hickman are also directors.

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