ACCOUNTS - Final Accounts preparation

KEQ DEVELOPMENTS LIMITED - Company Information

09294370 2014-11-04 false true 2015-05-312015-05-31 09294370 2014-11-03 09294370 c:EntityAccountantsOrAuditors 2015-05-31 09294370 2014-11-04 2015-05-31 09294370 2015-05-31 09294370 c:OrdinaryShareClass1 2015-05-31 09294370 c:OrdinaryShareClass1 2014-11-04 2015-05-31 09294370 c:OrdinaryShareClass2 2015-05-31 09294370 c:OrdinaryShareClass2 2014-11-04 2015-05-31 09294370 c:Director1 2014-11-04 2015-05-31 09294370 c:Director3 2014-11-04 2015-05-31 09294370 d:Subsidiary1 2014-11-04 2015-05-31 09294370 d:Subsidiary1 2015-05-31 09294370 c:EntityAccountantsOrAuditors 2014-11-04 2015-05-31 09294370 d:InvestmentProperties 2014-11-04 2015-05-31 09294370 d:InvestmentProperties 2015-05-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09294370

KEQ DEVELOPMENTS LTD

UNAUDITED

ABBREVIATED ACCOUNTS

FOR THE PERIOD ENDED 31 MAY 2015

KEQ DEVELOPMENTS LTD

The following reproduces the text of the Chartered accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF KEQ DEVELOPMENTS LTD
FOR THE PERIOD ENDED 31 MAY 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of KEQ Developments Ltd for the period ended 31 May 2015 which comprise the Profit and loss account, the Balance sheet and the related notes from the company's accounting records and from information and explanations you have given to us.

As a member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.

This report is made solely to the Board of directors of KEQ Developments Ltd, as a body, in accordance with the terms of our engagement letter dated 18 February 2016. Our work has been undertaken solely to prepare for your approval the financial statements of KEQ Developments Ltd and state those matters that we have agreed to state to the Board of directors of KEQ Developments Ltd, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than KEQ Developments Ltd and its Board of directors, as a body, for our work or for this report.

It is your duty to ensure that KEQ Developments Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the company's assets, liabilities, financial position and loss. You consider that KEQ Developments Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of KEQ Developments Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

MA Partners LLP

7 The Close

Norwich

Norfolk

NR1 4DJ

29 February 2016

Page 1

KEQ DEVELOPMENTS LTD

REGISTERED NUMBER: 09294370

ABBREVIATED BALANCE SHEET

AS AT 31 MAY 2015

2015

	Note	£	£
FIXED ASSETS
Investment property	2		17,109,328
Investments	3		3,333

			17,112,661

CURRENT ASSETS
Debtors	25,834,049
Cash at bank	1,717,550

	27,551,599
CREDITORS: amounts falling due within one year	(275,055)
NET CURRENT ASSETS		27,276,544

TOTAL ASSETS LESS CURRENT LIABILITIES

44,389,205

CREDITORS: amounts falling due after more than one year			(43,541,700)
NET ASSETS			847,505

CAPITAL AND RESERVES
Called up share capital	4	3,333
Share premium account		1,285,746
Profit and loss account		(441,574)

SHAREHOLDERS' FUNDS

847,505

The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the period in question in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 May 2015 and of its loss for the period in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Page 2

KEQ DEVELOPMENTS LTD

ABBREVIATED BALANCE SHEET (continued)

AS AT 31 MAY 2015

The abbreviated accounts, which have been prepared in accordance with the provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on 29 February 2016.

D Edwards	J R Pickstock
Director	Director

The notes on pages 4 to 5 form part of these financial statements.

Page 3

KEQ DEVELOPMENTS LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE PERIOD ENDED 31 MAY 2015

1.ACCOUNTING POLICIES

	1.1	Basis of preparation of financial statements
		The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

	1.2	Investments
		Investments held as fixed assets are shown at cost less provision for impairment.

	1.3	Investment properties
		Investment properties are included in the Balance sheet at their open market value in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) and are not depreciated. This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the directors, necessary in order to give a true and fair view of the financial position of the company.

2.INVESTMENT PROPERTY

		£
	Valuation
	At 4 November 2014	-
	Additions at cost	17,109,328
	At 31 May 2015	17,109,328

3.FIXED ASSET INVESTMENTS

		£
	Cost or valuation
	At 4 November 2014	-
	Additions	3,333
	At 31 May 2015	3,333

	Net book value
	At 31 May 2015	3,333

Subsidiary undertakings

The following were subsidiary undertakings of the company:

		Name	Class of shares	Holding

KEQ Maltings Limited

Ordinary

100%

Page 4

KEQ DEVELOPMENTS LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE PERIOD ENDED 31 MAY 2015

3.FIXED ASSET INVESTMENTS (continued)

The aggregate of the share capital and reserves as at 31 May 2015 and of the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:

Name	Aggregate of share capital and reserves	Profit/(loss)
	£	£

KEQ Maltings Limited	353,532	618,740

4.SHARE CAPITAL

			2015
			£
		Allotted, called up and fully paid

		2,000 A Ordinary shares of £1 each	2,000
		1,333 B Ordinary shares of £1 each	1,333

			3,333

During the period 2,000 A Ordinary shares and 1,333 B Ordinary shares were issued.

Page 5