Kitazono Property Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06532671 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 November 2019

for

Kitazono Property Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T Kitazono

E T Kitazono

SECRETARY:

E T Kitazono

REGISTERED OFFICE:

29 Edgehill Road

Purley

Surrey

CR6 2ND

REGISTERED NUMBER:

06532671 (England and Wales)

ACCOUNTANTS:

Thornton Springer LLP

Chartered Accountants

67 Westow Street

Upper Norwood

London

SE19 3RW

FIXED ASSETS

Investments

5

950,000

2,524,485

Investment property

6

4,295,000

-

5,245,000

2,524,485

CURRENT ASSETS

Debtors

7

3,234

-

Cash at bank

68,475

130,961

71,709

130,961

CREDITORS

Amounts falling due within one year

8

(1,319,180

)

(2,308,691

)

NET CURRENT LIABILITIES

(1,247,471

)

(2,177,730

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,997,529

346,755

PROVISIONS FOR LIABILITIES

(274,000

)

-

NET ASSETS

3,723,529

346,755

CAPITAL AND RESERVES

Called up share capital

9

2

2

Fair value reserve

2,270,401

-

Retained earnings

1,453,126

346,753

SHAREHOLDERS' FUNDS

3,723,529

346,755

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 30 October 2020 and were signed on its behalf by:

T Kitazono - Director

1.	STATUTORY INFORMATION

Kitazono Property 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 December 2018

2,524,485

Impairments

(1,574,485

)

At 30 November 2019

950,000

NET BOOK VALUE

At 30 November 2019

950,000

At 30 November 2018

2,524,485

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

4,075,000

Revaluations

220,000

At 30 November 2019

4,295,000

NET BOOK VALUE

At 30 November 2019

4,295,000

Fair value at 30 November 2019 is represented by:

£

Valuation in 2019

220,000

Cost

4,075,000

4,295,000

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

30.11.19

30.11.18

£

£

Cost

220,000

-

The investment properties were valued on a fair value basis on 30 November 2019 by Mr T Kitazono, one of the directors .

The investment properties were transferred from Ryohei Ishikawa Limited, the subsidiary company, during the year. The value transferred included unrealised revaluation gains of £2,324,400. This unrealised gain, together with the associated deferred taxation provision, has been transferred to the Fair Value Reserve.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.19

30.11.18

£

£

Other debtors

3,234

-

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.19

30.11.18

£

£

Amounts owed to group undertakings

956,516

1,857,098

Taxation and social security

2,526

-

Other creditors

360,138

451,593

1,319,180

2,308,691

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.19

30.11.18

value:

£

£

2

Ordinary

£1

2

2