Kelsall Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03713234 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2020

for

Kelsall Properties Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J P King

Mrs E M Hulse

SECRETARY:

Mrs E M Hulse

REGISTERED OFFICE:

Tonglu

Quarry Bank

Utkinton

Tarporley

Cheshire

CH3 8BZ

REGISTERED NUMBER:

03713234 (England and Wales)

ACCOUNTANTS:

Mayes Business Partnership Ltd

Chartered Certified Accountants

22-28 Willow Street

Accrington

Lancashire

BB5 1LP

FIXED ASSETS

Tangible assets

4

1,081,866

1,081,866

Investments

5

430,348

521,176

1,512,214

1,603,042

CURRENT ASSETS

Debtors

1,264

-

Cash at bank

112,501

70,752

113,765

70,752

CREDITORS

Amounts falling due within one year

7,790

8,725

NET CURRENT ASSETS

105,975

62,027

TOTAL ASSETS LESS CURRENT LIABILITIES

1,618,189

1,665,069

CREDITORS

Amounts falling due after more than one year

(738

)

(737

)

PROVISIONS FOR LIABILITIES

(2,872

)

(4,370

)

NET ASSETS

1,614,579

1,659,962

CAPITAL AND RESERVES

Called up share capital

6

405,006

405,006

Capital redemption reserve

70,000

70,000

Retained earnings

1,139,573

1,184,956

1,614,579

1,659,962

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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 25 August 2020 and were signed on its behalf by:

Mr J P King - Director

1.	STATUTORY INFORMATION

Kelsall Properties 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.

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 rents receivable.

Tangible fixed assets

The company's tangible fixed assets, consisting of domestic properties, have been valued by the directors using market comparisons found on recognised property websites.

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.

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.

3.

DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 April 2019

and 31 March 2020

1,081,866

NET BOOK VALUE

At 31 March 2020

1,081,866

At 31 March 2019

1,081,866

Cost or valuation at 31 March 2020 is represented by:

Totals

£

Valuation in 2020

148,526

Cost

933,340

1,081,866

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST OR VALUATION

At 1 April 2019

521,176

Additions

17,298

Revaluations

(108,126

)

At 31 March 2020

430,348

NET BOOK VALUE

At 31 March 2020

430,348

At 31 March 2019

521,176

Cost or valuation at 31 March 2020 is represented by:

Totals

£

Valuation in 2020

(53,432

)

Cost

483,780

430,348

6.	CALLED UP SHARE CAPITAL

31/3/20 31/3/19

£ £

Allotted, issued and fully paid

Ordinary shares of £1 each

At 1 April 2019 405,006 405,003

Issued during the year - 3

At 31 March 2020 405,006 405,006

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors have loaned monies to the company as follows:

31/03/20

31/03/19

£

£

J P King

369

369

E M Hulse

369

368

738

737