Kilmaurs (Holdings) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00663938 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

KILMAURS (HOLDINGS) LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R Briggs-Price

Mr K Newman

REGISTERED OFFICE:

Dean Court Lodge

41 Dean Court Road

Rottingdean

Brighton

East Sussex

BN2 7DL

REGISTERED NUMBER:

00663938 (England and Wales)

ACCOUNTANTS:

Blow Abbott Limited

36 High Street

Cleethorpes

North East Lincs

DN35 8JN

FIXED ASSETS

Intangible assets

4

777

1,100

Tangible assets

5

5,221

5,250

Investment property

6

3,088,575

3,258,575

3,094,573

3,264,925

CURRENT ASSETS

Debtors

7

19,464

12,009

Cash at bank

72,852

75,493

92,316

87,502

CREDITORS

Amounts falling due within one year

8

56,456

64,425

NET CURRENT ASSETS

35,860

23,077

TOTAL ASSETS LESS CURRENT LIABILITIES

3,130,433

3,288,002

CREDITORS

Amounts falling due after more than one year

9

(475,798

)

(518,466

)

PROVISIONS FOR LIABILITIES

(144,578

)

(88,934

)

NET ASSETS

2,510,057

2,680,602

CAPITAL AND RESERVES

Called up share capital

11

45,000

45,000

Fair value reserve

12

534,920

339,733

Retained earnings

1,930,137

2,295,869

SHAREHOLDERS' FUNDS

2,510,057

2,680,602

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2020 and were signed on its behalf by:

Mr K Newman - Director

1.	STATUTORY INFORMATION

Kilmaurs (Holdings) 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.

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

discounts, rebates, value added tax and other sales taxes.

During the year 11.1% of the turnover related to overseas income (2018: 31.1%).

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of four years.

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

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 Statement of

Income and Retained Earnings, 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the statement of financial position date. Transactions in foreign currencies are translated into sterling

at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account

in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 January 2019

and 31 December 2019

1,290

AMORTISATION

At 1 January 2019

190

Amortisation for year

323

At 31 December 2019

513

NET BOOK VALUE

At 31 December 2019

777

At 31 December 2018

1,100

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2019

17,818

Additions

1,524

At 31 December 2019

19,342

DEPRECIATION

At 1 January 2019

12,568

Charge for year

1,553

At 31 December 2019

14,121

NET BOOK VALUE

At 31 December 2019

5,221

At 31 December 2018

5,250

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2019

3,258,575

Disposals

(120,000

)

Revaluations

(50,000

)

At 31 December 2019

3,088,575

NET BOOK VALUE

At 31 December 2019

3,088,575

At 31 December 2018

3,258,575

On the 31st December 2019 the Investment Properties were valued by Mr K Newman who is a

director of the company. His open market value of the Investment Properties was £3,088,575.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other debtors

7,415

5,275

Directors' loan accounts

9,295

4,094

Prepayments and accrued income

2,754

2,640

19,464

12,009

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

42,500

42,500

Trade creditors

632

994

Tax

-

5,058

Social security and other taxes

-

100

Other creditors

9,207

11,303

Accrued expenses

4,117

4,470

56,456

64,425

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans - 1-2 years

42,500

42,500

Bank loans - 2-5 years

127,500

127,500

Bank loans more 5 yr by instal

305,798

348,466

475,798

518,466

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

305,798

348,466

10.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank loans

518,298

560,966

Personal guarantees/security have been made by the directors regarding bank loans of £230,415

(2018: £273,083). This amount is included in the total of the bank loans shown above.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

45,000

Ordinary

1

45,000

45,000

12.

RESERVES

Fair

value

reserve

£

At 1 January 2019

339,733

Movement during the year

195,187

At 31 December 2019

534,920

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at the 31st December 2019, the directors owed the company £9,295 (2018: £4,094). No interest is

payable on this loan.

Included within creditors, amount falling due within one year is a loan amounting to £42,500 (2018:

£42,500) and included in creditors falling due after more than one year are loans amounting to

£187,915 (2018: £230,583). Both of these are in the names of Mr K Newman and Mr R Briggs-Price

and the directors have chosen to treat the business loans as liabilities of the company according to

substance rather than legal form. Accordingly, loans are shown as company liabilities. Interest on the

loans is charged to the company's profit and loss account.

14.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr K Newman.