Kiwi Estates Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04607893 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

KIWI ESTATES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr J J Devereux

REGISTERED OFFICE:

Solar House

282 Chase Road

London

N14 6NZ

REGISTERED NUMBER:

04607893 (England and Wales)

ACCOUNTANTS:

Freemans Partnership LLP

Chartered Certified Accountants

Solar House

282 Chase Road

London

N14 6NZ

FIXED ASSETS

Investment property

4

5,824,024

5,001,937

CURRENT ASSETS

Stocks

5

1,319,041

552,951

Debtors

6

2,001,318

1,370,459

Cash at bank

74,389

915,548

3,394,748

2,838,958

CREDITORS

Amounts falling due within one year

7

1,581,421

339,753

NET CURRENT ASSETS

1,813,327

2,499,205

TOTAL ASSETS LESS CURRENT LIABILITIES

7,637,351

7,501,142

CREDITORS

Amounts falling due after more than one year

8

(2,780,265

)

(2,780,265

)

PROVISIONS FOR LIABILITIES

9

(168,410

)

(168,410

)

NET ASSETS

4,688,676

4,552,467

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

11

4,688,576

4,552,367

SHAREHOLDERS' FUNDS

4,688,676

4,552,467

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 April 2022 and were signed by:

Mr J J Devereux - Director

1.	STATUTORY INFORMATION

Kiwi Estates 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 amounts derived from the sale of development properties to customers during the year and is recognised at the date the risks and rewards of ownership of goods were transferred to the customer.

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.

Stocks - work in progress

Work in progress (WIP) is stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Costs include include labour and attributable overheads.

At each reporting date, WIP is assessed for impairment. If an impairment is identified, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2021

5,001,937

Additions

822,087

At 31 December 2021

5,824,024

NET BOOK VALUE

At 31 December 2021

5,824,024

At 31 December 2020

5,001,937

Fair value at 31 December 2021 is represented by:

£

Valuation in 2010

701,027

Valuation in 2014

1,701,669

Valuation in 2016

(25,000

)

Valuation in 2017

131,277

Valuation in 2019

(782,500

)

Cost

4,097,551

5,824,024

5.

STOCKS

31.12.21

31.12.20

£

£

Work-in-progress

1,319,041

552,951

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Other debtors

1,994,219

1,365,893

Tax Recoverable

7,099

4,566

2,001,318

1,370,459

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade creditors

15,007

15,007

Tax

25,123

32,072

VAT

2,964

2,971

Other creditors

30,589

30,589

Directors' current accounts

1,423,738

250,114

Accrued expenses

9,000

9,000

Other loan

75,000

-

1,581,421

339,753

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.21

31.12.20

£

£

Amounts owed to shareholders

2,780,265

2,780,265

9.	PROVISIONS FOR LIABILITIES

31.12.21

31.12.20

£

£

Deferred tax

168,410

168,410

Deferred

tax

£

Balance at 1 January 2021

168,410

Balance at 31 December 2021

168,410

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.21

31.12.20

value:

£

£

100

Ordinary shares

£1

100

100

11.

RESERVES

31.12.21

31.12.20

£

£

Distributable reserves

3,130,513

2,994,304

Non-distributable reserves

1,558,063

1,558,063

At 31 December 2021

4,,688,576

4,552,367

12.	RELATED PARTY DISCLOSURES