Kirton Property Investments Limited - Accounts to registrar (filleted) - small 18.2
Kirton Property Investments Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 November 2020 |
for |
KIRTON PROPERTY INVESTMENTS LIMITED |
KIRTON PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 05629038) |
Contents of the Financial Statements |
for the year ended 30 November 2020 |
Page |
Company Information | 1 |
Chartered Accountants' Report | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 5 |
KIRTON PROPERTY INVESTMENTS LIMITED |
Company Information |
for the year ended 30 November 2020 |
Director: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
Chartered Accountants |
Northside House |
69 Tweedy Road |
Bromley |
Kent |
BR1 3WA |
Chartered Accountants' Report to the Director |
on the Unaudited Financial Statements of |
Kirton Property Investments Limited |
The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kirton Property Investments Limited for the year ended 30 November 2020 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the director of Kirton Property Investments Limited in accordance with the terms of our engagement letter dated 15 October 2012. Our work has been undertaken solely to prepare for your approval the financial statements of Kirton Property Investments Limited and state those matters that we have agreed to state to the director of Kirton Property Investments Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kirton Property Investments Limited and its director for our work or for this report. |
It is your duty to ensure that Kirton Property Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Kirton Property Investments Limited. You consider that Kirton Property Investments Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Kirton Property Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
Northside House |
69 Tweedy Road |
Bromley |
Kent |
BR1 3WA |
KIRTON PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 05629038) |
Balance Sheet |
30 November 2020 |
2020 | 2019 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
Current assets |
Debtors | 7 |
Cash at bank |
Creditors |
Amounts falling due within one year | 8 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
9 |
Net assets |
Capital and reserves |
Called up share capital | 11 |
Retained earnings |
Shareholders' funds |
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. |
KIRTON PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 05629038) |
Balance Sheet - continued |
30 November 2020 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
KIRTON PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 05629038) |
Notes to the Financial Statements |
for the year ended 30 November 2020 |
1. | Statutory information |
Kirton Property Investments Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
Key source of estimation, uncertainty and judgement |
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period. |
There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets. |
There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of. |
There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable. |
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 |
Fixtures and fittings | - |
Computer equipment | - |
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. |
KIRTON PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 05629038) |
Notes to the Financial Statements - continued |
for the year ended 30 November 2020 |
2. | Accounting policies - continued |
Financial instruments |
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument. |
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts. |
Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Tangible fixed assets |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
Cost |
At 1 December 2019 |
and 30 November 2020 |
Depreciation |
At 1 December 2019 |
Charge for year |
At 30 November 2020 |
Net book value |
At 30 November 2020 |
At 30 November 2019 |
KIRTON PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 05629038) |
Notes to the Financial Statements - continued |
for the year ended 30 November 2020 |
5. | Fixed asset investments |
Interest |
in other |
participating |
interests |
£ |
Cost |
At 1 December 2019 |
and 30 November 2020 | 1 |
Net book value |
At 30 November 2020 | 1 |
At 30 November 2019 | 1 |
6. | Investment property |
Total |
£ |
Fair value |
At 1 December 2019 |
and 30 November 2020 |
Net book value |
At 30 November 2020 |
At 30 November 2019 |
The directors are of the opinion that the market value of the investment properties is not materially different to that of cost. |
7. | Debtors: amounts falling due within one year |
2020 | 2019 |
£ | £ |
Other debtors |
8. | Creditors: amounts falling due within one year |
2020 | 2019 |
£ | £ |
Taxation and social security |
Other creditors |
9. | Creditors: amounts falling due after more than one year |
2020 | 2019 |
£ | £ |
Bank loans |
KIRTON PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 05629038) |
Notes to the Financial Statements - continued |
for the year ended 30 November 2020 |
9. | Creditors: amounts falling due after more than one year - continued |
2020 | 2019 |
£ | £ |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
10. | Secured debts |
The following secured debts are included within creditors: |
2020 | 2019 |
£ | £ |
Bank loans |
11. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2019 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
12. | Related party disclosures |
During the year, total dividends of £15,300 (2019 - £15,300) were paid to the director . |
At 30 November 2020 the Company owed the director £123,548 (2019 £97,868) there is no set repayment date and no interest is charged on the loan. |