138 Kingsland Road Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03907036 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2021

for

138 Kingsland Road Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

E Elias

I A Heptonstall

M Collins

PD Collins

G E Heptonstall

SECRETARY:

J Elias

REGISTERED OFFICE:

5 Technology Park

Colindeep Lane

Colindale

London

NW9 6BX

BUSINESS ADDRESS:

C/O 14 Coppice Walk

Totteridge

London

N20 8BZ

REGISTERED NUMBER:

03907036 (England and Wales)

ACCOUNTANTS:

Grunberg & Co Limited

Chartered Accountants

5 Technology Park

Colindeep Lane

Colindale

London

NW9 6BX

FIXED ASSETS

Tangible assets

4

1,369

1,825

Investment property

5

12,806,999

12,806,999

12,808,368

12,808,824

CURRENT ASSETS

Debtors

6

45,318

41,693

Cash at bank

683,724

742,367

729,042

784,060

CREDITORS

Amounts falling due within one year

7

(1,457,717

)

(1,694,949

)

NET CURRENT LIABILITIES

(728,675

)

(910,889

)

TOTAL ASSETS LESS CURRENT LIABILITIES

12,079,693

11,897,935

CREDITORS

Amounts falling due after more than one year

8

(857,719

)

(1,003,578

)

PROVISIONS FOR LIABILITIES

(1,023,483

)

(1,023,521

)

NET ASSETS

10,198,491

9,870,836

CAPITAL AND RESERVES

Called up share capital

96

96

Fair value reserve

10

6,005,936

6,005,936

Retained earnings

10

4,192,459

3,864,804

10,198,491

9,870,836

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 August 2021 and were signed on its behalf by:

E Elias - Director

1.	STATUTORY INFORMATION

138 Kingsland Road 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 the fair value of rents received or receivable, net of value added tax. Rental income is recognised on a straight line basis over the term of the lease.

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

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Investment property

Investment properties are initially measured at cost, including transaction costs. Subsequently, investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis, are measured at fair value. Gains or losses arising from changes in the fair value of investment properties are included in the Income Statement, in the period in which they arise.

Investment properties whose fair value cannot be measured reliably without undue cost or effort on an on-going basis, are included other fixed assets at cost less accumulated depreciation and accumulated impairment losses.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial asset and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttabale ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment.If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Debtors

Basic financial assets, including trade and other debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash and cash equivalents represented by cash in hand and deposits held at call with financial institutions, are measured at amortised cost.

Creditors

Basic financial liabilities, including trade and other creditors, are recognised at transaction price.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 February 2020

and 31 January 2021

8,348

10,134

18,482

DEPRECIATION

At 1 February 2020

8,302

8,355

16,657

Charge for year

11

445

456

At 31 January 2021

8,313

8,800

17,113

NET BOOK VALUE

At 31 January 2021

35

1,334

1,369

At 31 January 2020

46

1,779

1,825

5.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 February 2020

and 31 January 2021

12,806,999

NET BOOK VALUE

At 31 January 2021

12,806,999

At 31 January 2020

12,806,999

Cost or valuation at 31 January 2021 is represented by:

£

Valuation in 2003

748,288

Valuation in 2008

500,000

Valuation in 2013

1,450,000

Valuation in 2017

2,446,700

Valuation in 2018

1,884,171

Cost

5,777,840

12,806,999

If investment properties had not been revalued they would have been included at the following historical cost:

2021

2020

£

£

Cost

5,777,840

5,777,840

Investment properties were valued on an open market basis on 31 January 2021 by the directors with no change being needed .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

27,655

27,598

Other debtors

3,365

100

Prepayments and accrued income

14,298

13,995

45,318

41,693

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

183,652

181,768

Trade creditors

20,344

-

Corporation tax

69,244

134,893

Social security and other taxes

18,751

28,260

Other creditors

181,897

161,729

Amounts due to related companies

798,243

1,078,243

Directors' current accounts

550

-

Accruals and deferred rent

185,036

110,056

1,457,717

1,694,949

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans due within one to two years

187,376

159,957

Bank loans due within two to five years

121,732

261,677

Accruals and deferred rent

548,611

581,944

857,719

1,003,578

9.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Bank loans

492,760

603,402

The bank loans are secured by fixed and floating charges over the assets of the company, dated 19 September 2003 and 31 March 2010.

10.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 February 2020

3,864,804

6,005,936

9,870,740

Profit for the year

327,655

327,655

At 31 January 2021

4,192,459

6,005,936

10,198,395

Amounts totalling £6,005,937 (2020 - £6,005,937) included within the fair value reserve are not distributable.

11.	RELATED PARTY DISCLOSURES

Amounts due to related companies are advances from entities in which directors have material interests. These amounts are interest free and repayable on demand.