KGP Ireland Limited - Accounts to registrar (filleted) - small 18.2

KGP Ireland Limited - Accounts to registrar (filleted) - small 18.2

KGP IRELAND LIMITED - Company Information

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REGISTERED NUMBER: 08382419 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2020

FOR

KGP IRELAND LIMITED









KGP IRELAND LIMITED (REGISTERED NUMBER: 08382419)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2020




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


KGP IRELAND LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2020







DIRECTOR: N Wright





REGISTERED OFFICE: 1st Floor, Commerce House
1 Raven Road
South Woodford
London
E18 1HB





REGISTERED NUMBER: 08382419 (England and Wales)
Page 1
KGP IRELAND LIMITED (REGISTERED NUMBER: 08382419)

BALANCE SHEET
31 JANUARY 2020

2020 2019
Notes £ £ £ £
FIXED ASSETS
Investment property 4 123,281 123,281

CURRENT ASSETS
Debtors 5 41,458 56,811
Cash at bank and in hand 140 365
41,598 57,176
CREDITORS
Amounts falling due within one year 6 85,110 170,895
NET CURRENT LIABILITIES (43,512 ) (113,719 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
79,769
9,562

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 79,768 9,561
SHAREHOLDERS' FUNDS 79,769 9,562

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 6 June 2021 and were signed by:




N Wright - Director


The notes form part of these financial statements

Page 2
KGP IRELAND LIMITED (REGISTERED NUMBER: 08382419)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2020

1. STATUTORY INFORMATION

KGP Ireland Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 08382419 and the registered office address is 1st Floor, Commerce House, 1 Raven Road, South Woodford, London, E18 1HB.

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.

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 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.

Going concern
At the balance sheet date, the company had net current liabilities of £43,512. The director believes that the company, with continued support from it's creditors, has adequate resources to continue to operate. The director considers it appropriate to continue using the going concern basis in the preparation of the financial statements. The financial statements do not include any adjustments that would result if support from its subsidiary company and its creditors was not continued.

3. EMPLOYEES AND DIRECTORS

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

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KGP IRELAND LIMITED (REGISTERED NUMBER: 08382419)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2020

4. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 February 2019
and 31 January 2020 123,281
NET BOOK VALUE
At 31 January 2020 123,281
At 31 January 2019 123,281

Based on a valuation by estate agents Fox & Gallagher in August 2020, the director considers the cost of the investment property to be the fair value.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£ £
Other debtors 41,458 56,811

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£ £
Taxation and social security - 733
Other creditors 85,110 170,162
85,110 170,895

7. SECURED DEBTS

There is a charge over the investment property and land for all present and future advances repayable with interest to Promotoria (Finn) Limited.

Page 4