Kilmaurs (Holdings) Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 00663938 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2013

FOR

KILMAURS (HOLDINGS) LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr R Briggs - Price

Mr K Newman

REGISTERED OFFICE:

Dean Court Lodge

41 Dean Court Road

Rottingdean

Brighton

East Sussex

BN2 7DL

REGISTERED NUMBER:

00663938 (England and Wales)

ACCOUNTANTS:

Blow Abbott Limited

36 High Street

Cleethorpes

North East Lincs

DN35 8JN

FIXED ASSETS

Tangible assets

2

6,170

7,700

Investment property

3

3,800,000

3,440,000

3,806,170

3,447,700

CURRENT ASSETS

Debtors

5,939

4,564

Cash at bank

18,313

20,867

24,252

25,431

CREDITORS

Amounts falling due within one year

4

88,252

231,967

NET CURRENT LIABILITIES

(64,000

)

(206,536

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,742,170

3,241,164

CREDITORS

Amounts falling due after more than one year

4

(1,073,211

)

(944,983

)

PROVISIONS FOR LIABILITIES

(1,234

)

(1,540

)

NET ASSETS

2,667,725

2,294,641

CAPITAL AND RESERVES

Called up share capital

5

45,000

45,000

Revaluation reserve

304,513

(55,487

)

Profit and loss account

2,318,212

2,305,128

SHAREHOLDERS' FUNDS

2,667,725

2,294,641

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2013 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 13 June 2014 and were signed on its behalf by:

Mr K Newman - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the

revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller

Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

During the year 20.8 % of the turnover relates to overseas income (2012: 18.8 %).

Tangible fixed assets

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

Fixtures and fittings

-

20% on reducing balance

Investment property

Investment properties are shown at their most recent valuation. Any aggregate surplus or deficit

arising from changes in market value is transferred to a revaluation reserve, except that a deficit

which is expected to be permanent and which is in excess of any previously recognised surplus over

cost relating to the same property, or the reversal of such deficit, is charged (or credited) to the profit

and loss account. Depreciation is not provided in respect of freehold investment properties or in

respect of leasehold investment properties where the unexpired term of the lease is more than twenty

years. The directors consider that this accounting policy which represents a departure from the

statutory accounting rules, is necessary to provide a true and fair view as required under SSAP 19 "

Accounting for investment properties ". The financial effect of the departure from the statutory

accounting rules is not material.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at

the operating result.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2013

and 31 December 2013

9,975

DEPRECIATION

At 1 January 2013

2,275

Charge for year

1,530

At 31 December 2013

3,805

NET BOOK VALUE

At 31 December 2013

6,170

At 31 December 2012

7,700

3.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 January 2013

3,440,000

Revaluations

360,000

At 31 December 2013

3,800,000

NET BOOK VALUE

At 31 December 2013

3,800,000

At 31 December 2012

3,440,000

4.

CREDITORS

Creditors include an amount of £ 1,094,321 (2012 - £ 1,118,526 ) for which security has been given.

They also include the following debts falling due in more than five years:

2013

2012

£

£

Repayable by instalments

925,711

925,781

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2013

2012

value:

£

£

45,000

Ordinary

1

45,000

45,000

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at the 31st December 2013, the company owed the directors £8,068.( As at the 31st December

2012, the company owed the directors £27,140).

No interest is payable on this loan.

A dividend of £15,200 was paid to the directors during the year.

Included in creditors, amounts falling due within one year is a loan amounting to £2,500 and included

in creditors amounts falling due after more than one year are loans amounting to £542,430. Both of

these loans are in the names of Mr K Newman and Mr R Briggs-Price and the directors have chosen to

treat the business loans as liabilities of the company according to substance rather than legal form.

Accordingly loans are shown as company liabilities. Interest on the loans is charged to the company's

profit and loss account.

7.	ULTIMATE CONTROLLING PARTY

Mr K Newman holds 34,000 of the issued share capital and is therefore the ultimate controlling party.