Kipins Property Co. Limited - Abbreviated accounts 16.1
Kipins Property Co. Limited - Abbreviated accounts 16.1
REGISTERED NUMBER: |
Abbreviated Unaudited Accounts for the Year Ended 31 March 2016 |
for |
Kipins Property Co. Limited |
Kipins Property Co. Limited (Registered number: 00683115) |
Contents of the Abbreviated Accounts |
for the Year Ended 31 March 2016 |
Page |
Company Information | 1 |
Abbreviated Balance Sheet | 2 |
Notes to the Abbreviated Accounts | 3 |
Kipins Property Co. Limited |
Company Information |
for the Year Ended 31 March 2016 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Kipins Property Co. Limited (Registered number: 00683115) |
Abbreviated Balance Sheet |
31 March 2016 |
2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 3 |
Revaluation reserve |
Profit and loss account |
SHAREHOLDERS' FUNDS |
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 were approved by the Board of Directors on |
Kipins Property Co. Limited (Registered number: 00683115) |
Notes to the Abbreviated Accounts |
for the Year Ended 31 March 2016 |
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 January |
2015). |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
Turnover |
Turnover represents amounts receivable for rental income net of VAT |
Tangible fixed assets and depreciation |
Tangible fixed assets other than freehold land are stated at cost or valuation less deprecation. Depreciation is |
provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its |
expected useful life, as follows: |
Land and buildings freehold Depreciation not provided |
Fixtures, fittings & equipment 15% Reducing balance |
Computer equipment 33% Reducing balance |
Investment properties |
Investment properties are included in the balance sheet at their open market value. Depreciation is provided only |
on those investment properties which are leasehold and where the unexpired lease term is less than 20 years. |
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entitles |
(effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible |
assets to be depreciated. In the opinion of the directors, compliance with the standard is necessary for the |
financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors |
reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be |
separately identified or quantified. |
2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST OR VALUATION |
At 1 April 2015 |
Additions |
Disposals | ( |
) |
At 31 March 2016 |
DEPRECIATION |
At 1 April 2015 |
Charge for year |
At 31 March 2016 |
NET BOOK VALUE |
At 31 March 2016 |
At 31 March 2015 |
3. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
Ordinary | £1 |