Kirton Property Investments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05629038 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 November 2019

for

KIRTON PROPERTY INVESTMENTS LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

Director:

Mrs C J Beckham

Secretary:

Mrs C J Beckham

Registered office:

Northside House

69 Tweedy Road

Bromley

Kent

BR1 3WA

Registered number:

05629038 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

Northside House

69 Tweedy Road

Bromley

Kent

BR1 3WA

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to

file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other

primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Kirton Property Investments Limited for the year ended 30 November 2019 which comprise the

Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the

company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Kirton Property Investments Limited in accordance with the terms of our engagement letter dated 15 October 2012. Our work has been undertaken solely to prepare for your approval the financial statements of Kirton Property Investments Limited and state those matters that we have agreed to state to the director of Kirton Property Investments Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kirton Property Investments Limited and its director for our work or for this report.

It is your duty to ensure that Kirton Property Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Kirton Property Investments Limited. You consider that Kirton Property Investments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Kirton Property Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Haines Watts

Chartered Accountants

Northside House

69 Tweedy Road

Bromley

Kent

BR1 3WA

10 June 2020

Fixed assets

Tangible assets

4

317

423

Investments

5

1

1

Investment property

6

464,967

464,967

465,285

465,391

Current assets

Debtors

7

675

90

Cash at bank

41,610

41,128

42,285

41,218

Creditors

Amounts falling due within one year

8

99,029

63,037

Net current liabilities

(56,744

)

(21,819

)

Total assets less current liabilities

408,541

443,572

Creditors

Amounts falling due after more than one year

9

398,884

399,339

Net assets

9,657

44,233

Capital and reserves

Called up share capital

11

100

100

Retained earnings

9,557

44,133

Shareholders' funds

9,657

44,233

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 June 2020 and were signed by:

Mrs C J Beckham - Director

1.	Statutory information

Kirton Property Investments 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.

Key source of estimation, uncertainty and judgement

The preparation of financial statements in conformity with generally accepted accounting practice requires

management to make estimates and judgement that affect the reported amounts of assets and liabilities as well

as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of

revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried

out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate

as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried

out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as

possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is

carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as

accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately

prove to be uncollectable.

Turnover

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

value added tax and other sales taxes.

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

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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.

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party

to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial

recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the

effective interest rate method. A provision is established when there is objective evidence that the company will

not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank

and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the

substance of the contractual arrangements entered into and the definitions of a financial liability and an equity

instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company

after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds

received, net of direct issue costs.

3.	Employees and directors

The average number of employees during the year was 1 (2018 - 1 ) .

4.	Tangible fixed assets

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

Cost

At 1 December 2018

and 30 November 2019

2,000

669

2,669

Depreciation

At 1 December 2018

1,953

293

2,246

Charge for year

12

94

106

At 30 November 2019

1,965

387

2,352

Net book value

At 30 November 2019

35

282

317

At 30 November 2018

47

376

423

5.	Fixed asset investments

Interest

in other

participating

interests

£

Cost

At 1 December 2018

and 30 November 2019

1

Net book value

At 30 November 2019

1

At 30 November 2018

1

6.	Investment property

Total

£

Fair value

At 1 December 2018

and 30 November 2019

464,967

Net book value

At 30 November 2019

464,967

At 30 November 2018

464,967

The directors are of the opinion that the market value of the investment properties is not materially different to

that of cost.

7.

Debtors: amounts falling due within one year

2019

2018

£

£

Other debtors

675

90

8.

Creditors: amounts falling due within one year

2019

2018

£

£

Other creditors

99,029

63,037

9.

Creditors: amounts falling due after more than one year

2019

2018

£

£

Bank loans

398,884

399,339

2019

2018

£

£

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

398,884

399,339

10.	Secured debts

The following secured debts are included within creditors:

2019

2018

£

£

Bank loans

398,884

399,339

11.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

£1

100

100

12.	Related party disclosures

During the year, total dividends of £15,300 (2018 - £15,600) were paid to the director .

At 30 November 2019 the Company owed the director £97,868 (2018 £61,975) there is no set repayment date

and no interest is charged on the loan.