K Pick Holdings Limited - Period Ending 2019-12-31

Registration number: 08666049

K Pick Holdings Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2019

K Pick Holdings Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 4

K Pick Holdings Limited

(Registration number: 08666049)
Balance Sheet as at 31 December 2019

	Note	2019 £	2018 £
Fixed assets
Investment property	3	264,500	264,500
Investments	4	2	2
		264,502	264,502
Current assets
Debtors	5	291,906	95,589
Cash at bank and in hand		104,959	244,952
		396,865	340,541
Creditors: Amounts falling due within one year	6	(618)	-
Net current assets		396,247	340,541
Net assets		660,749	605,043
Capital and reserves
Called up share capital		100	100
Profit and loss account		660,649	604,943
Total equity		660,749	605,043

For the financial year ending 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 16 June 2020
 

KR Pick

Director

The notes on pages 2 to 4 form an integral part of these financial statements.

Page 1

K Pick Holdings Limited

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

1	General information

The company is a private company limited by share capital, incorporated in England and Wales .

The address of its registered office is:
4 Cyrus Way Cygnet Park
Hampton
Peterborough
Cambridgeshire
PE7 8HP
United Kingdom

These financial statements were authorised for issue by the director on 16 June 2020.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Page 2

K Pick Holdings Limited

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

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Investment properties

	2019 £
At 1 January	264,500

There has been no valuation of investment property by an independent valuer.

4	Investments

	2019 £	2018 £
Investments in subsidiaries	2	2

Subsidiaries	£
Cost or valuation
At 1 January 2019	2
Provision
Carrying amount
At 31 December 2019	2
At 31 December 2018	2

Page 3

K Pick Holdings Limited

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

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Registered office	Holding	Proportion of voting rights and shares held
			2019	2018
Subsidiary undertakings
CPT Distribution Limited	4 Cyrus Way Cygnet Park Hampton Peterborough PE7 8HP	Ordinary shares	100%	100%
	England

The principal activity of CPT Distribution Limited is supply of haulage services

5

Debtors

	Note	2019 £	2018 £
Amounts owed by group undertakings.	7	59,452	76,158
Other debtors		232,454	19,431
		291,906	95,589

6

Creditors

Creditors: amounts falling due within one year

	2019 £	2018 £
Due within one year
Other creditors	618	-

7	Related party transactions

Other transactions with directors

During the year a director received unsecured advances totalling £22,952 (2018 - £119,535) and made repayments of £43,000 (2018 - £58,250). Interest has been charged at HM Revenue & Customs' official rate.

Page 4