K & K Estates Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04459930 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2019

FOR

K & K ESTATES LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

D Klein

H Klein

REGISTERED OFFICE:

115 Craven Park Road

London

N15 6BL

REGISTERED NUMBER:

04459930 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Tangible assets

4

39

58

Investment property

5

2,965,772

3,027,807

2,965,811

3,027,865

CURRENT ASSETS

Cash at bank

21,423

48,844

CREDITORS

Amounts falling due within one year

6

(65,407

)

(68,442

)

NET CURRENT LIABILITIES

(43,984

)

(19,598

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,921,827

3,008,267

CREDITORS

Amounts falling due after more than one year

7

(2,285,445

)

(2,365,983

)

NET ASSETS

636,382

642,284

CAPITAL AND RESERVES

Called up share capital

9

100

100

Revaluation reserve

10

567,783

596,047

Retained earnings

10

68,499

46,137

SHAREHOLDERS' FUNDS

636,382

642,284

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 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 21 October 2020 and were signed on its behalf by:

D Klein - Director

1.	STATUTORY INFORMATION

K & K Estates 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.

Turnover

Turnover represents net rent receivable, excluding value added tax.

Tangible fixed assets

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

Computer equipment

-

33% 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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2018 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 December 2018

and 30 November 2019

3,331

DEPRECIATION

At 1 December 2018

3,273

Charge for year

19

At 30 November 2019

3,292

NET BOOK VALUE

At 30 November 2019

39

At 30 November 2018

58

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2018

3,027,807

Disposals

(62,035

)

At 30 November 2019

2,965,772

NET BOOK VALUE

At 30 November 2019

2,965,772

At 30 November 2018

3,027,807

Fair value at 30 November 2019 is represented by:

£

Valuation in 2016

597,464

Valuation in 2017

(1,417

)

Valuation in 2019

(28,264

)

Cost

2,397,989

2,965,772

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.19

30.11.18

£

£

Taxation and social security

6,910

6,105

Other creditors

58,497

62,337

65,407

68,442

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.19

30.11.18

£

£

Bank loans

2,285,445

2,365,983

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans

2,285,445

2,365,983

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.11.19

30.11.18

£

£

Bank loans

2,285,445

2,365,983

Bank loans are secured by first charge over company's investment properties and bear interest at variable rates.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.19

30.11.18

value:

£

£

100

Ordinary

£1

100

100

10.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 December 2018

46,137

596,047

642,184

Profit for the year

22,362

22,362

Revaluation reserve

-

(28,264

)

(28,264

)

At 30 November 2019

68,499

567,783

636,282