Nikki Kelly Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05262105 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

NIKKI KELLY PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Ms N Kelly

SECRETARY:

D Kelly

REGISTERED OFFICE:

251 Church Street

Blackpool

Lancashire

FY1 3PB

REGISTERED NUMBER:

05262105 (England and Wales)

ACCOUNTANTS:

Whitehead & Howarth

327 Clifton Drive South

Lytham St Annes

Lancashire

FY8 1HN

BANKERS:

Yorkshire Bank plc

31 Westcliffe Drive

Blackpool

Lancashire

FY3 7BW

FIXED ASSETS

Tangible assets

4

5,604

6,593

Investment property

5

417,451

417,451

423,055

424,044

CURRENT ASSETS

Cash at bank

55

2,557

CREDITORS

Amounts falling due within one year

6

158,324

162,176

NET CURRENT LIABILITIES

(158,269

)

(159,619

)

TOTAL ASSETS LESS CURRENT LIABILITIES

264,786

264,425

CREDITORS

Amounts falling due after more than one year

7

(143,709

)

(152,507

)

PROVISIONS FOR LIABILITIES

(7,118

)

(7,306

)

NET ASSETS

113,959

104,612

CAPITAL AND RESERVES

Called up share capital

1

1

Other non-distributable

reserve

40,339

40,339

Retained earnings

73,619

64,272

113,959

104,612

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 her 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 23 September 2022 and were signed by:

Ms N Kelly - Director

1.	STATUTORY INFORMATION

Nikki Kelly 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.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

15% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2021

and 31 December 2021

11,338

DEPRECIATION

At 1 January 2021

4,745

Charge for year

989

At 31 December 2021

5,734

NET BOOK VALUE

At 31 December 2021

5,604

At 31 December 2020

6,593

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2021

and 31 December 2021

417,451

NET BOOK VALUE

At 31 December 2021

417,451

At 31 December 2020

417,451

The investment property was valued on a fair value basis on 31 December 2021 by the director.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Bank loans and overdrafts

8,515

8,515

Taxation and social security

2,381

2,270

Other creditors

147,428

151,391

158,324

162,176

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.21

31.12.20

£

£

Bank loans

143,709

152,507

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

109,649

118,447

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.21

31.12.20

£

£

Bank loans

152,224

161,022

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits from a director subsisted during the years ended 31 December 2021 and 31 December 2020:

31.12.21

31.12.20

£

£

Ms N Kelly

Balance outstanding at start of year

95,860

(2,135

)

Amounts advanced

1,881

181,258

Amounts repaid

(6,300

)

(83,263

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

91,441

95,860

10.	RELATED PARTY DISCLOSURES

During the year the company received rental income amounting to £25,000 (2020: £25,000) from Jim Kelly & Company Limited, a company where N Kelly is both director and shareholder. At the year end the company owed £54,667 (2020: £54,667) to Jim Kelly & Company Limited.