Kidley Properties Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05077183 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2020

FOR

KIDLEY PROPERTIES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P.F. Kidley

L White

SECRETARY:

L White

REGISTERED OFFICE:

260 Reede Road

Dagenham

Essex

RM10 8EH

REGISTERED NUMBER:

05077183 (England and Wales)

ACCOUNTANTS:

Clemence Hoar Cummings

Chartered Accountants

Riverside House

1-5 Como Street

Romford

Essex

RM7 7DN

FIXED ASSETS

Tangible assets

4

18

21

Investment property

5

285,000

285,000

285,018

285,021

CURRENT ASSETS

Debtors

6

17,126

17,126

Cash at bank

2,826

3,537

19,952

20,663

CREDITORS

Amounts falling due within one year

7

15,951

15,797

NET CURRENT ASSETS

4,001

4,866

TOTAL ASSETS LESS CURRENT LIABILITIES

289,019

289,887

CREDITORS

Amounts falling due after more than one year

8

(67,017

)

(75,145

)

PROVISIONS FOR LIABILITIES

(4,999

)

(4,999

)

NET ASSETS

217,003

209,743

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

10

217,001

209,741

SHAREHOLDERS' FUNDS

217,003

209,743

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2020 and were signed on its behalf by:

P.F. Kidley - Director

L White - Director

1.	STATUTORY INFORMATION

Kidley Properties Ltd 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.

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.

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

-

15% 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.

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 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 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 May 2019

and 30 April 2020

250

DEPRECIATION

At 1 May 2019

229

Charge for year

3

At 30 April 2020

232

NET BOOK VALUE

At 30 April 2020

18

At 30 April 2019

21

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2019

and 30 April 2020

285,000

NET BOOK VALUE

At 30 April 2020

285,000

At 30 April 2019

285,000

Fair value at 30 April 2020 is represented by:

£

Valuation in 2009

15,000

Valuation in 2016

5,000

Valuation in 2017

85,000

Cost

180,000

285,000

If fixed asset investments had not been revalued 2016 would have been included at the following

historical cost:

2020

2019

£

£

Cost

180,000

180,000

Fixed asset investments were valued on an open market basis on 30 April 2016 by the Directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Loan - Bailes & Kidley Ltd

17,126

17,126

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

11,202

11,053

Taxation

2,171

2,115

Directors' current accounts

2,000

2,000

Accrued expenses

578

629

15,951

15,797

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans - 1-2 years

11,202

11,053

Bank loans - 2-5 years

33,607

33,159

Bank loans repayable over a period in excess of 5 years

22,208

30,933

67,017

75,145

Amounts falling due in more than five years:

Repayable by instalments

Bank loans repayable over a period in excess of 5 years

22,208

30,933

9.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Bank loans

78,219

86,198

The bank loan is secured by a first charge over the company's investment property.

10.

RESERVES

Retained

earnings

£

At 1 May 2019

209,741

Profit for the year

9,260

Dividends

(2,000

)

At 30 April 2020

217,001

11.	RELATED PARTY DISCLOSURES

Rent of £15,000 was received from Bailes & Kidley Ltd, a company of whom PF Kidley is a Director

and controlling shareholder Mrs LR White is also a shareholder of Bailes & Kidley Ltd. £17,126 was

owed by Bailes & Kidley Ltd on loan account at 30/4/20.

.