Kristal Kiani Property Developments Limi - Accounts to registrar (filleted) - small 18.2
Kristal Kiani Property Developments Limi - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2020 |
FOR |
KRISTAL KIANI PROPERTY DEVELOPMENTS |
LIMITED |
KRISTAL KIANI PROPERTY DEVELOPMENTS |
LIMITED (REGISTERED NUMBER: 06995677) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 January 2020 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
KRISTAL KIANI PROPERTY DEVELOPMENTS |
LIMITED |
COMPANY INFORMATION |
for the year ended 31 January 2020 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
19-20 Bourne Court |
Southend Road |
Woodford Green |
Essex |
IG8 8HD |
KRISTAL KIANI PROPERTY DEVELOPMENTS |
LIMITED (REGISTERED NUMBER: 06995677) |
ABRIDGED BALANCE SHEET |
31 January 2020 |
2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
KRISTAL KIANI PROPERTY DEVELOPMENTS |
LIMITED (REGISTERED NUMBER: 06995677) |
ABRIDGED BALANCE SHEET - continued |
31 January 2020 |
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 |
KRISTAL KIANI PROPERTY DEVELOPMENTS |
LIMITED (REGISTERED NUMBER: 06995677) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 January 2020 |
1. | STATUTORY INFORMATION |
Kristal Kiani Property Developments Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The accounts have been prepared on the going concern basis as the directors are of the opinion that the company will meet its liabilities as and when due. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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 balance sheet date. |
KRISTAL KIANI PROPERTY DEVELOPMENTS |
LIMITED (REGISTERED NUMBER: 06995677) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 January 2020 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Short term debtors and creditors |
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account. |
Loans and borrowings |
Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2019 - |
KRISTAL KIANI PROPERTY DEVELOPMENTS |
LIMITED (REGISTERED NUMBER: 06995677) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 January 2020 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 February 2019 |
Additions |
Disposals | ( |
) |
At 31 January 2020 |
DEPRECIATION |
At 1 February 2019 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 January 2020 |
NET BOOK VALUE |
At 31 January 2020 |
At 31 January 2019 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Totals |
£ |
COST |
Additions | 41,779 |
At 31 January 2020 | 41,779 |
DEPRECIATION |
Charge for year | 10,445 |
At 31 January 2020 | 10,445 |
NET BOOK VALUE |
At 31 January 2020 | 31,334 |
5. | SECURED DEBTS |
The following secured debts are included within creditors: |
2020 | 2019 |
£ | £ |
Hire purchase contracts | 29,651 | 4,599 |
Hire purchase contracts are secured over the assets to which they relate. |
KRISTAL KIANI PROPERTY DEVELOPMENTS |
LIMITED (REGISTERED NUMBER: 06995677) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 January 2020 |
6. | RELATED PARTY DISCLOSURES |
At the balance sheet date, the company owed £377,864 (2019 - £312,434) to the directors. |
At the balance sheet date, the company was owed £91,179 (2019 : £94,798) by Kiani Property Investments Limited and owed £40,000 (2019 : £40,000) to Upminster Property Limited, a companies in which Mr M G Kiani is also a director. |