Kerion Properties Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 04737310 (England and Wales)

Abbreviated Accounts

for the Year Ended 31 March 2015

for

Kerion Properties Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mrs A Mehra

V Mehra

SECRETARY:

Mrs A Mehra

REGISTERED OFFICE:

C/o Parker Cavendish

28 Church Road

Stanmore

Middlesex

HA7 4XR

REGISTERED NUMBER:

04737310 (England and Wales)

ACCOUNTANTS:

Parker Cavendish

Chartered Accountants

28 Church Road

Stanmore

Middlesex

HA7 4XR

FIXED ASSETS

Investment property

2

4,868,387

4,100,000

CURRENT ASSETS

Debtors

3

161,403

772,342

Cash at bank

642,213

338,699

803,616

1,111,041

CREDITORS

Amounts falling due within one year

(51,336

)

(54,511

)

NET CURRENT ASSETS

752,280

1,056,530

TOTAL ASSETS LESS CURRENT LIABILITIES

5,620,667

5,156,530

CREDITORS

Amounts falling due after more than one year

4

(2,572,500

)

(2,205,000

)

NET ASSETS

3,048,167

2,951,530

CAPITAL AND RESERVES

Called up share capital

5

1,000

1,000

Revaluation reserve

2,486,892

2,486,892

Profit and loss account

560,275

463,638

SHAREHOLDERS' FUNDS

3,048,167

2,951,530

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 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 21 December 2015 and were signed on its behalf by:

Mrs A Mehra - 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 rents receivable in the year.

Investment property

The freehold investment property is stated at market value and any surplus or deficit arising on the

revaluation of the property is transferred to a revaluation reserve. No depreciation is provided in

respect ot the property. This is a departure from the requirement of the Companies Act which requires

all properties to be depreciated. This property is not held for consumption but for investment and the

directors consider that to depreciate the property would not give a true and fair view.

Deferred tax

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

the balance sheet date.

2.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 April 2014

4,100,000

Additions

768,387

At 31 March 2015

4,868,387

NET BOOK VALUE

At 31 March 2015

4,868,387

At 31 March 2014

4,100,000

3.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

The aggregate total of debtors falling due after more than one year is £ 150,872 (2014 - £ 185,872 )

4.

CREDITORS

Creditors include an amount of £ 2,572,500 (2014 - £ 2,205,000 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

1,000

Ordinary

£1

1,000

1,000