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

REGISTERED NUMBER: 12046262 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

12 JUNE 2019 TO 30 JUNE 2020

FOR

KIRKLEY PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

D J Clement

REGISTERED OFFICE:

49 Kirkley Cliff Road

Lowestoft

Suffolk

NR33 0DF

REGISTERED NUMBER:

12046262 (England and Wales)

ACCOUNTANTS:

SHPD Accountants

10 Littlebourne Road

Maidstone

Kent

ME14 5QP

FIXED ASSETS

Investment property

4

210,000

CURRENT ASSETS

Debtors

5

139

Cash at bank

1,059

1,198

CREDITORS

Amounts falling due within one year

6

51,539

NET CURRENT LIABILITIES

(50,341

)

TOTAL ASSETS LESS CURRENT LIABILITIES

159,659

CREDITORS

Amounts falling due after more than one year

7

166,323

NET LIABILITIES

(6,664

)

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

(6,665

)

(6,664

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 3 March 2021 and were signed by:

D J Clement - Director

1.	STATUTORY INFORMATION

Kirkley 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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 period 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 period 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 period was NIL.

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

215,597

Revaluations

(5,597

)

At 30 June 2020

210,000

NET BOOK VALUE

At 30 June 2020

210,000

Fair value at 30 June 2020 is represented by:

£

Valuation in 2020

(5,597

)

Cost

215,597

210,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

139

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other creditors

51,539

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans

166,323

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

166,323

8.	RELATED PARTY DISCLOSURES

As at the balance sheet date, a balance of £51,059 was owed by the company to the director. This balance is

repayable on demand.