KNIGHTS_GREEN_ESTATES_LIM - Accounts

KNIGHTS GREEN ESTATES LIMITED - Company Information

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Company Registration No. 02233975 (England and Wales)

KNIGHTS GREEN ESTATES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2013

KNIGHTS GREEN ESTATES LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

KNIGHTS GREEN ESTATES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2013

- 1 -

2013

2012

Notes

Fixed assets

Tangible assets

350,001

Current assets

Stocks

3,307,405

2,117,047

Debtors

1,164,863

2,402,903

Cash at bank and in hand

269,938

297,517

4,742,206

4,817,467

Creditors: amounts falling due within one year

(319,435)

(360,650)

Net current assets

4,422,771

4,456,817

Total assets less current liabilities

4,772,772

4,806,818

Provisions for liabilities

(121,811)

(140,300)

4,650,961

4,666,518

Capital and reserves

Called up share capital

302

Revaluation reserve

158,552

Profit and loss account

4,492,107

4,507,664

Shareholders' funds

4,650,961

4,666,518

For the financial year ended 31 December 2013 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 18 July 2014

J B Lewis

Director

Company Registration No. 02233975

KNIGHTS GREEN ESTATES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2013

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Turnover

Turnover represents proceeds from property sales and net invoiced rental income, excluding value added tax.

1.3

Tangible fixed assets and depreciation

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

Land and buildings Freehold

not provided

Fixtures, fittings & equipment

20% on cost

In accordance with SSAP 19 no depreciation is provided in respect of the freehold investment properties. This represents a departure from the Companies Act 2006 requirements concerning the depreciation of fixed assets. The director considers that the adoption of this policy is necessary to give a true and fair view.

1.4

Stock

Stock is valued at the lower of cost and net realisable value.

Fixed assets

Tangible assets

Cost or valuation

At 1 January 2013 & at 31 December 2013

355,024

Depreciation

At 1 January 2013 & at 31 December 2013

5,023

Net book value

At 31 December 2013

350,001

At 31 December 2012

350,001

Debtors

Debtors include an amount of £1,132,793 (2012 - £2,362,961) which is due after more than one year.

KNIGHTS GREEN ESTATES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2013

- 3 -

Share capital

2013

2012

Allotted, called up and fully paid

300 Ordinary A shares of £1 each

300

2 Ordinary B shares of £1 each

302

Ultimate parent company

The ultimate parent company is Icon Two Limited, a company incorporated in England and Wales, accounts of which can be obtained from Companies House.