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

REGISTERED NUMBER: 04080804 (England and Wales)

KEIGAR PROPERTIES LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2020

Page

Company Information

1

Chartered Certified Accountants' Report

2

Balance Sheet

3

to

4

Notes to the Financial Statements

5

to

7

DIRECTORS:

K G Whall

A Whall

SECRETARY:

A Whall

REGISTERED OFFICE:

Fish Pond Farm

Fir Park

Market Rasen

Lincolnshire

LN8 3YN

REGISTERED NUMBER:

04080804 (England and Wales)

ACCOUNTANTS:

Weaver Wroot

28 Dudley Street

Grimsby

N E Lincolnshire

DN31 2AB

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Keigar Properties Ltd for the year ended 31st March 2020 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Keigar Properties Ltd, as a body, in accordance with the terms of our engagement letter dated 14th July 2017. Our work has been undertaken solely to prepare for your approval the financial statements of Keigar Properties Ltd and state those matters that we have agreed to state to the Board of Directors of Keigar Properties Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Keigar Properties Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Keigar Properties Ltd. You consider that Keigar Properties Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Keigar Properties Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Weaver Wroot

28 Dudley Street

Grimsby

N E Lincolnshire

DN31 2AB

10th December 2020

FIXED ASSETS

Tangible assets

4

7,328

192

Investment property

5

3,076,366

3,076,366

3,083,694

3,076,558

CURRENT ASSETS

Debtors

6

22,446

21,540

Cash at bank and in hand

92,443

52,687

114,889

74,227

CREDITORS

Amounts falling due within one year

7

894,886

879,508

NET CURRENT LIABILITIES

(779,997

)

(805,281

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,303,697

2,271,277

CREDITORS

Amounts falling due after more than one year

8

(137,803

)

(141,964

)

PROVISIONS FOR LIABILITIES

(257,502

)

(256,146

)

NET ASSETS

1,908,392

1,873,167

CAPITAL AND RESERVES

Called up share capital

2

2

Revaluation reserve

10

1,091,837

1,089,347

Retained earnings

816,553

783,818

SHAREHOLDERS' FUNDS

1,908,392

1,873,167

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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 10th December 2020 and were signed on its behalf by:

K G Whall - Director

1.	STATUTORY INFORMATION

Keigar 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.

Turnover

Turnover represents rental income from the company's residential properties.

Tangible fixed assets

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

Office equipment

-

15% on cost

Fixtures and fittings

-

15% on reducing balance

Plant and Machinery

-

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2019 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Office

and

Plant and

equipment

fittings

Machinery

Totals

£

£

£

£

COST

At 1st April 2019

1,646

449

-

2,095

Additions

499

-

7,500

7,999

At 31st March 2020

2,145

449

7,500

10,094

DEPRECIATION

At 1st April 2019

1,561

342

-

1,903

Charge for year

97

16

750

863

At 31st March 2020

1,658

358

750

2,766

NET BOOK VALUE

At 31st March 2020

487

91

6,750

7,328

At 31st March 2019

85

107

-

192

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st April 2019

and 31st March 2020

3,076,366

NET BOOK VALUE

At 31st March 2020

3,076,366

At 31st March 2019

3,076,366

Fair value at 31st March 2020 is represented by:

£

Valuation in 2010

3,010,800

Valuation in 2014

(60,000

)

Cost

125,566

3,076,366

If investment property had not been revalued it would have been included at the following historical cost:

31.3.20

31.3.19

£

£

Cost

1,728,419

1,728,419

Investment property was valued on a vacant possession basis on 30th June 2014 by the directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

252

252

Other debtors

19,568

18,993

Prepayments

2,626

2,295

22,446

21,540

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Bank loans and overdrafts

9,953

14,265

Trade creditors

111

117

Current corporation tax

20,981

12,975

Social security and other taxes

175

192

Other creditors

20,768

20,193

Amounts due to associated

companies

322,461

323,501

Directors' current accounts

518,217

506,045

Accrued expenses

2,220

2,220

894,886

879,508

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.20

31.3.19

£

£

Bank loans - 1-2 years

20,792

14,265

Bank loans - 2-5 years

33,540

42,795

Bank loans more 5 yr by instal

83,471

84,904

137,803

141,964

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

83,471

84,904

9.	SECURED DEBTS

The bank hold various charges over the company's investment properties to secure the amounts due to them.

10.

RESERVES

Revaluation

reserve

£

At 1st April 2019

1,089,347

Deferred Tax movement

2,490

At 31st March 2020

1,091,837

11.	ULTIMATE CONTROLLING PARTY

The company is controlled by it's directors who jointly own 100% of the issued share capital and voting rights, however no individual has ultimate control.