Kelsar Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08003287 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1ST APRIL 2018 TO 30TH SEPTEMBER 2019

FOR

KELSAR LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A M Kelly

REGISTERED OFFICE:

Bracknell House Pywell Road

Willowbrook Industrial Estate

Corby

NN17 5XJ

REGISTERED NUMBER:

08003287 (England and Wales)

ACCOUNTANTS:

Bewers Turner & Co LLP

Chartered Accountants

Portland House

11-13 Station Road

Kettering

Northamptonshire

NN15 7HH

FIXED ASSETS

Investment property

4

1,190,000

1,190,000

CURRENT ASSETS

Cash at bank

22,146

21,696

CREDITORS

Amounts falling due within one year

5

237,746

255,858

NET CURRENT LIABILITIES

(215,600

)

(234,162

)

TOTAL ASSETS LESS CURRENT LIABILITIES

974,400

955,838

CREDITORS

Amounts falling due after more than one year

6

(441,230

)

(507,278

)

PROVISIONS FOR LIABILITIES

(33,296

)

(35,048

)

NET ASSETS

499,874

413,512

CAPITAL AND RESERVES

Called up share capital

7

100

100

Fair value reserve

8

218,859

217,107

Retained earnings

280,915

196,305

SHAREHOLDERS' FUNDS

499,874

413,512

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30th September 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 30th September 2019 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 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 director and authorised for issue on 1st May 2020 and were signed by:

A M Kelly - Director

1.	STATUTORY INFORMATION

Kelsar 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 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

historic cost basis.

For operational reasons the reporting period has been extended, therefore comparative amounts

(including related notes) may not be entirely comparable.

The financial statements have been prepared on a going concern basis not withstanding that at 30th

September 2019 the company had net current liabilities of £215,600. The director believes this basis to be

appropriate and has agreed to provide funds as necessary to meet the day to day running costs of the

business for the foreseeable future.

Turnover

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

rebates, value added tax and other sales taxes.

Investment property

Investment property is shown at the director's estimate of fair value.

Financial instruments

The company is party to only basic financial instruments such as cash, trade creditors and loans.

Instruments such as trade creditors are initially recognised at their transaction cost and reviewed at the

year end for impairment. Debt instruments not repayable on demand or due within one year, such as bank

loans, are measured at amortised cost using the effective interest rate.

Taxation

Taxation for the period 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 period 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 period was 1 (2018 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st April 2018

and 30th September 2019

1,190,000

NET BOOK VALUE

At 30th September 2019

1,190,000

At 31st March 2018

1,190,000

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

34,023

58,077

Trade creditors

1,136

4,161

Taxation and social security

21,787

14,255

Other creditors

180,800

179,365

237,746

255,858

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

441,230

507,278

2019

2018

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

by instalment

379,589

435,400

379,589

435,400

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

£1

100

100

8.

RESERVES

Fair

value

reserve

£

At 1st April 2018

217,107

Deferred tax movement

1,752

At 30th September 2019

218,859

9.	RELATED PARTY DISCLOSURES

All material related party transactions with owners holding a participating interest, companies in which the

entity has a participating interest and directors were all concluded under normal market conditions.