Keith Pople Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00501655 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 January 2020

for

KEITH POPLE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N J Pople

R C Pople

D J Pople

C J Pople

REGISTERED OFFICE:

Suite 302

179 Whiteladies Road

Clifton

Bristol

BS8 2AG

REGISTERED NUMBER:

00501655 (England and Wales)

ACCOUNTANTS:

Haines Watts

Chartered Accountants

Bath House

6-8 Bath Street

Bristol

BS1 6HL

FIXED ASSETS

Tangible assets

4

60,000

80,000

CURRENT ASSETS

Debtors

5

3,334

8,735

Investments

6

9,586,033

8,368,192

Cash at bank and in hand

174,477

819,577

9,763,844

9,196,504

CREDITORS

Amounts falling due within one year

7

(13,939

)

(176,923

)

NET CURRENT ASSETS

9,749,905

9,019,581

TOTAL ASSETS LESS CURRENT LIABILITIES

9,809,905

9,099,581

CREDITORS

Amounts falling due after more than one year

8

(75,000

)

(75,000

)

PROVISIONS FOR LIABILITIES

(294,943

)

(49,468

)

NET ASSETS

9,439,962

8,975,113

CAPITAL AND RESERVES

Called up share capital

9

110,000

110,000

Investment property fair value reserve

29,743

49,743

Investments fair value reserve

1,576,101

799,578

Retained earnings

7,724,118

8,015,792

SHAREHOLDERS' FUNDS

9,439,962

8,975,113

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 Profit and loss account has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 2 September 2020 and were signed on its behalf by:

D J Pople - Director

1.	COMPANY INFORMATION

Keith Pople 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 company's principal activities and nature of its operations are disclosed in the Directors' Report.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small

Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and

Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary

amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting

policies adopted are set out below.

Going concern

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

considered relevant information including annual budgets and future cash-flows in making their assessment.

In particular, in response to the COVID-19 pandemic, the directors have tested their cash-flow analysis to take

into account the impact on the business of possible scenarios brought on by the impact of COVID-19,

alongside the measures they can take to mitigate the impact. Based on these assessments, given the measures

that could be undertaken, and current resources available, the directors have concluded that they are able to

continue to adopt the going concern basis in prepared the financial statements.

Significant judgements and estimates

Estimates and judgements are inherent in the preparation of financial statements. The directors consider that

in respect of these financial statements, the valuations of the company's properties and the estimate of the

future cost of dilapidations are the most significant.

Turnover

Turnover represents income receivable from the letting of commercial and residential properties, net of VAT.

Tangible fixed assets

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

Short leasehold investment property

-

in accordance with the property

Investment property

Investment property is included at fair value. Gains are recognised in the profit and loss account. Deferred

taxation is provided on these gains at the rate expected to apply when the property is sold.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid

investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown

within borrowings in current liabilities.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12

'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are

recognised when the company becomes party to the contractual provisions of the instrument. Financial assets

and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally

enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise

the asset and settle the liability simultaneously.

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially

measured at transaction price including transaction costs and are subsequently carried at amortised cost.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or

are settled, or when the company transfers the financial asset and substantially all the risks and rewards of

ownership to another entity, or if some significant risks and rewards of ownership are retained but control of

the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price unless

the arrangement constitutes a financing transaction, where the debt instrument is measured at the present

value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried

at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and

only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation

The tax expense represents the sum of the current tax expense and deferred tax expense. Current tax assets are

recognised when tax paid exceeds the tax payable. Current and deferred tax is charged or credited to the

profit and loss account, except when it relates to items charged or credited to other comprehensive income or

equity, when the tax follows the transaction or event it relates to and is also charged or credited to other

comprehensive income, or equity. Current tax assets and current tax liabilities and deferred tax assets and

deferred tax liabilities are offset, if and only if, there is a legally enforceable right to set off the amounts and

the entity intends either to settle on the net basis or to realise the asset and settle the liability simultaneously.

Current tax is based on taxable profit for the year. Current tax assets and liabilities are measured using tax

rates that have been enacted or substantively enacted by the reporting period.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a

right to pay less tax in the future have occurred at the balance sheet date. Timing differences between the

company's taxable profits and its results as stated in the financial statements that arise from the inclusion of

gains and losses in tax assessments in periods different from those in which they are recognised in the

financial statements, are recognised when they arise.

Deferred tax is measured at the average tax rates that are expected to apply in the periods in which timing

differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted

by the balance sheet date. Deferred tax is measured on a non-discounted basis.

Leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

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 the profit or loss account in the period to which they relate.

Investments

Investments in shares are included at fair value. Gains are recognised in the profit and loss account. Deferred

taxation is provided on these gains at the rate expected to apply when the investments are sold.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Short

leasehold

investment

property

£

COST

At 1 February 2019

and 31 January 2020

120,000

DEPRECIATION

At 1 February 2019

40,000

Charge for year

20,000

At 31 January 2020

60,000

NET BOOK VALUE

At 31 January 2020

60,000

At 31 January 2019

80,000

The short leasehold investment properties were valued by the directors at 31 January 2020.

The original historical cost of the leasehold investment properties held at 31 January 2020 was £30,257 (2019

- £30,257).

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

542

-

Tax

2,792

-

VAT

-

8,735

3,334

8,735

6.	CURRENT ASSET INVESTMENTS

2020

2019

£

£

Listed investments

9,586,033

8,368,192

The historical value of the listed investments at 31 January 2020 was £7,428,820 (2019 - £7,460,041).

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Tax

-

135,351

Social security and other taxes

2,661

2,086

Other creditors

5,903

3,983

Unsecured loan notes

-

25,000

Accrued expenses

5,375

10,503

13,939

176,923

Included within other creditors is £292 of unpaid pension contributions (2019 - £223).

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Unsecured loan notes

75,000

75,000

The unsecured loan notes bear interest at 5% gross per annum. The loan notes have redemption dates which

range from 3 May 2021 to 15 November 2022.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

110,000

Ordinary

£1

110,000

110,000

10.	ULTIMATE CONTROLLING PARTY

The controlling party is not known.