138 Kingsland Road Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03907036 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2020

for

138 Kingsland Road Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

E Elias

I A Heptonstall

M Collins

PD Collins

G E Heptonstall

SECRETARY:

J Elias

REGISTERED OFFICE:

5 Technology Park

Colindeep Lane

Colindale

London

NW9 6BX

REGISTERED NUMBER:

03907036 (England and Wales)

ACCOUNTANTS:

Grunberg & Co Limited

Chartered Accountants

5 Technology Park

Colindeep Lane

Colindale

London

NW9 6BX

FIXED ASSETS

Tangible assets

4

1,825

2,433

Investment property

5

12,806,999

12,806,999

12,808,824

12,809,432

CURRENT ASSETS

Debtors

6

41,693

50,034

Cash at bank

742,367

513,058

784,060

563,092

CREDITORS

Amounts falling due within one year

7

1,694,949

1,870,444

NET CURRENT LIABILITIES

(910,889

)

(1,307,352

)

TOTAL ASSETS LESS CURRENT LIABILITIES

11,897,935

11,502,080

CREDITORS

Amounts falling due after more than one year

8

(1,003,578

)

(1,215,303

)

PROVISIONS FOR LIABILITIES

(1,023,521

)

(1,023,636

)

NET ASSETS

9,870,836

9,263,141

CAPITAL AND RESERVES

Called up share capital

96

96

Fair value reserve

10

6,005,936

6,005,936

Retained earnings

10

3,864,804

3,257,109

9,870,836

9,263,141

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2020 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 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 Board of Directors and authorised for issue on 13 July 2020 and were signed on its behalf by:

E Elias - Director

PD Collins - Director

1.	STATUTORY INFORMATION

138 Kingsland Road 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

Turnover represents the fair value of rents received or receivable, net of value added tax. Rental income is

recognised on a straight line basis over the term of the lease.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Investment property

Investment properties are initially measured at cost, including transaction costs. Subsequently, investment

properties whose fair value can be measured reliably without undue cost or effort on an on-going basis, are

measured at fair value. Gains or losses arising from changes in the fair value of investment properties are

included in the Income Statement, in the period in which they arise.

Investment properties whose fair value cannot be measured reliably without undue cost or effort on an on-going

basis, are included other fixed assets at cost less accumulated depreciation and accumulated impairment losses.

Financial instruments

Debtors - Short term debtors are measured at transaction price, less any impairment.

Creditors - Short term creditors are measured at transaction price.

Taxation

Taxation for the year 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2019 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 February 2019

and 31 January 2020

8,348

10,134

18,482

DEPRECIATION

At 1 February 2019

8,287

7,762

16,049

Charge for year

15

593

608

At 31 January 2020

8,302

8,355

16,657

NET BOOK VALUE

At 31 January 2020

46

1,779

1,825

At 31 January 2019

61

2,372

2,433

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2019

and 31 January 2020

12,806,999

NET BOOK VALUE

At 31 January 2020

12,806,999

At 31 January 2019

12,806,999

Fair value at 31 January 2020 is represented by:

£

Valuation in 2003

748,288

Valuation in 2008

500,000

Valuation in 2013

1,450,000

Valuation in 2017

2,446,700

Valuation in 2018

1,884,171

Cost

5,777,840

12,806,999

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

2020

2019

£

£

Cost

5,777,840

5,777,840

Investment properties were valued on an open market basis on 31 January 2020 by the directors with no change being needed

.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

27,598

35,222

Other debtors

100

100

Prepayments and accrued income

13,995

14,712

41,693

50,034

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

181,768

256,907

Trade creditors

-

23,799

Corporation tax

134,893

92,232

Social security and other taxes

28,260

27,562

Other creditors

161,729

153,833

Amounts due to related companies

1,078,243

1,178,243

Accruals and deferred rent

110,056

137,868

1,694,949

1,870,444

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans due within one to two years

159,957

184,491

Bank loans due within two to five years

261,677

415,534

Accruals and deferred rent

581,944

615,278

1,003,578

1,215,303

9.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Bank loans

603,402

856,932

The bank loans are secured by fixed and floating charges over the assets of the company, dated 19 September

2003 and 31 March 2010.

10.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 February 2019

3,257,109

6,005,936

9,263,045

Profit for the year

607,695

607,695

At 31 January 2020

3,864,804

6,005,936

9,870,740

Amounts totalling £6,005,937 (2019 - £6,005,937) included within the fair value reserve are not distributable.

11.	RELATED PARTY DISCLOSURES

Amounts due to related companies are advances from entities in which directors have material interests. These

amounts are interest free and repayable on demand.