Keith Pople Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00501655 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 January 2021

for

KEITH POPLE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N J Pople

R C Pople

D J Pople

C J Pople

REGISTERED OFFICE:

Suite 302

179 Whiteladies Road

Clifton

Bristol

BS8 2AG

REGISTERED NUMBER:

00501655 (England and Wales)

ACCOUNTANTS:

Haines Watts

Chartered Accountants

Bath House

6-8 Bath Street

Bristol

BS1 6HL

FIXED ASSETS

Tangible assets

4

40,000

60,000

CURRENT ASSETS

Debtors

5

1,171

3,334

Investments

6

9,520,170

9,586,033

Cash at bank

31,642

174,477

9,552,983

9,763,844

CREDITORS

Amounts falling due within one year

7

(62,024

)

(13,939

)

NET CURRENT ASSETS

9,490,959

9,749,905

TOTAL ASSETS LESS CURRENT LIABILITIES

9,530,959

9,809,905

CREDITORS

Amounts falling due after more than one year

8

(25,000

)

(75,000

)

PROVISIONS FOR LIABILITIES

(382,692

)

(294,943

)

NET ASSETS

9,123,267

9,439,962

CAPITAL AND RESERVES

Called up share capital

9

110,000

110,000

Investment property fair value reserve

19,829

29,743

Investments fair value reserve

1,632,638

1,576,101

Retained earnings

7,360,800

7,724,118

SHAREHOLDERS' FUNDS

9,123,267

9,439,962

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Profit and Loss Account has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 18 October 2021 and were signed on its behalf by:

D J Pople - Director

1.	COMPANY INFORMATION

Keith Pople 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

The financial statements have been prepared on a going concern basis. The directors have reviewed and considered relevant information including annual budgets and future cash-flows in making their assessment. In particular, in response to the COVID-19 pandemic, the directors have tested their cash-flow analysis to take into account the impact on the business of possible scenarios brought on by the impact of COVID-19, alongside the measures they can take to mitigate the impact. Based on these assessments, given the measures that could be undertaken, and current resources available, the directors have concluded that they are able to continue to adopt the going concern basis in prepared the financial statements.

Significant judgements and estimates

Estimates and judgements are inherent in the preparation of financial statements. The directors consider that in respect of these financial statements, the valuations of the company's properties is the most significant.

Turnover

Turnover represents income receivable from the letting of commercial and residential properties, net of VAT.

Tangible fixed assets

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

Short leasehold investment property

-

in accordance with the property

Investment property

Investment property is included at fair value. Gains are recognised in the profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation

The tax expense represents the sum of the current tax expense and deferred tax expense. Current tax assets are recognised when tax paid exceeds the tax payable. Current and deferred tax is charged or credited to the profit and loss account, except when it relates to items charged or credited to other comprehensive income or equity, when the tax follows the transaction or event it relates to and is also charged or credited to other comprehensive income, or equity. Current tax assets and current tax liabilities and deferred tax assets and deferred tax liabilities are offset, if and only if, there is a legally enforceable right to set off the amounts and the entity intends either to settle on the net basis or to realise the asset and settle the liability simultaneously.

Current tax is based on taxable profit for the year. Current tax assets and liabilities are measured using tax rates that have been enacted or substantively enacted by the reporting period.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements, are recognised when they arise.

Deferred tax is measured at the average tax rates that are expected to apply in the periods in which timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit or loss account in the period to which they relate.

Investments

Investments in shares are included at fair value. Gains are recognised in the profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the investments are sold.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2020 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Short

leasehold

investment

property

£

COST

At 1 February 2020

and 31 January 2021

120,000

DEPRECIATION

At 1 February 2020

60,000

Charge for year

20,000

At 31 January 2021

80,000

NET BOOK VALUE

At 31 January 2021

40,000

At 31 January 2020

60,000

The short leasehold investment properties were valued by the directors at 31 January 2021.

The original historical cost of the leasehold investment properties held at 31 January 2021 was £30,257 (2020 - £30,257).

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

1,042

542

Other debtors

129

-

Tax

-

2,792

1,171

3,334

6.	CURRENT ASSET INVESTMENTS

2021

2020

£

£

Listed investments

9,520,170

9,586,033

The historical value of the listed investments at 31 January 2021 was £7,184,969 (2020 - £7,428,820).

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Tax

116

-

Social security and other taxes

1,151

2,661

Other creditors

4,957

5,903

Unsecured loan notes

50,000

-

Accrued expenses

5,800

5,375

62,024

13,939

Included within other creditors is £81 of unpaid pension contributions (2020 - £292).

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Unsecured loan notes

25,000

75,000

The unsecured loan notes bear interest at 5% gross per annum. The loan notes have redemption dates which range from 3 May 2021 to 15 November 2022.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

110,000

Ordinary

£1

110,000

110,000

10.	ULTIMATE CONTROLLING PARTY

The controlling party is not known.