Chris Kerr Property Holdings Limited - Period Ending 2021-12-31

Chris Kerr Property Holdings Limited

Contents of the Financial Statements
for the Year Ended 31 December 2021

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 8

Chris Kerr Property Holdings Limited

Company Information
for the Year Ended 31 December 2021

Director:

C Kerr

Registered office:

77 Goldhawk Road London London W12 8EH

Registered number:

04992393

Accountants:

Wem & Co Chartered Accountants Savoy House Savoy Circus London W3 7DA

Chris Kerr Property Holdings Limited

(Registration number: 04992393)
Balance Sheet as at 31 December 2021

	Note	31.12.21		31.12.20
		£	£	£	£
FIXED ASSETS
Tangible assets	5		691		921
Investment property	6		2,175,001		2,175,001
			2,175,692		2,175,922
CURRENT ASSETS
Debtors	7	675,155		605,040
Cash at bank and in hand		34		1,551
		675,189		606,591
CREDITORS
Creditors within 1yr	8	27,653		43,334
Net current assets			647,536		563,257
Total assets less current liabilities			2,823,228		2,739,179
Creditors Amounts falling due after more than one year	8		1,023,707		1,026,207
PROVISIONS FOR LIABILITES			(124,208)		(124,209)
Net assets			1,675,313		1,588,763
CAPITAL AND RESERVES
Called up share capital			100		100
Property reserve			931,077		931,077
Profit and loss account			744,136		657,586
Shareholders' funds			1,675,313		1,588,763

Chris Kerr Property Holdings Limited

(Registration number: 04992393)
Balance Sheet as at 31 December 2021 (continued)

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 28 October 2022
 

.........................................

C Kerr
Director

Chris Kerr Property Holdings Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2021

1.	General information

The company is a private company limited by share capital, incorporated in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentational currency is Pound Sterling (£).

Turnover

Turnover is measured at fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
 

Tax

Taxation for the year comprises current and deferred trecognized 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 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.

Deferred tax is provided upon the surplus on revaluations of Investment properties.

Chris Kerr Property Holdings Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2021 (continued)

2	Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Fixtures & fittings	25% reducing balance

3.	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2020 - 0).

4.	Profit before tax

Arrived at after charging/(crediting)

	31.12.21 £	31.12.20 £
Depreciation expense	230	307

Chris Kerr Property Holdings Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2021 (continued)

5.	Tangible assets

	Fixtures and fittings £
Cost or valuation
At 1 January 2021	14,394
At 31 December 2021	14,394
Depreciation
At 1 January 2021	13,473
Charge for the year	230
At 31 December 2021	13,703
Carrying amount
At 31 December 2021	691
At 31 December 2020	921

6.	Investment properties

	31.12.21 £
At 1 January	2,175,001
At 31 December	2,175,001

The properties were revalued at the year on an open market basis by the director.

7.

Debtors

Current	31.12.21 £	31.12.20 £
Other debtors	675,155	605,040

Chris Kerr Property Holdings Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2021 (continued)

8.

Creditors

Creditors: amounts falling due within one year

	31.12.21 £	31.12.20 £
Due within one year
Taxation and social security	24,594	28,590
Other creditors	3,059	14,744
	27,653	43,334

Creditors: amounts falling due after more than one year

	Note	31.12.21 £	31.12.20 £
Due after one year
Bank loan over 5 years (not by instalments)	10	1,023,707	1,026,207

9.

Reserves

	Property Reserve £
At 1 January 2021	931,077
At 31 December 2021	931,077

The property reserve is non-distributable.

10.	Secured debts

	31.12.21 £	31.12.20 £
The following secured debts are included within creditors:
Bank loans	1,023,707	1,026,207

Bank loan is secured by a charge on investment property.

Chris Kerr Property Holdings Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2021 (continued)

11.	Provisions for liabilities

	Deferred tax £
At 1 January 2021	124,209
At 31 December 2021	124,209

12.	Impact of Covid-19

The COVID-19 pandemic has continued to develop with measures taken by government to contain the virus having no impact on the company's trading. The exact impact on activities in the remainder of the year and thereafter cannot be predicted. However, the relaxation of restrictions is expected to boost turnover and profits in the opinion of the director.