138 Kingsland Road Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 03907036 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 January 2016

for

138 Kingsland Road Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

E Elias

I Heptonstall

M Collins

PD Collins

SECRETARY:

I Heptonstall

REGISTERED OFFICE:

10-14 Accommodation Road

Golders Green

London

NW11 8ED

REGISTERED NUMBER:

03907036 (England and Wales)

ACCOUNTANTS:

Grunberg & Co Limited

Chartered Accountants

10-14 Accommodation Road

Golders Green

London

NW11 8ED

FIXED ASSETS

Tangible assets

2

1,594

1,624

Investment property

3

8,476,128

8,476,128

8,477,722

8,477,752

CURRENT ASSETS

Debtors

29,035

33,786

Cash at bank

268,915

284,664

297,950

318,450

CREDITORS

Amounts falling due within one year

4

1,985,237

2,087,612

NET CURRENT LIABILITIES

(1,687,287

)

(1,769,162

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,790,435

6,708,590

CREDITORS

Amounts falling due after more than one year

4

(1,632,360

)

(1,960,921

)

PROVISIONS FOR LIABILITIES

(319

)

(325

)

NET ASSETS

5,157,756

4,747,344

CAPITAL AND RESERVES

Called up share capital

5

96

96

Revaluation reserve

2,698,288

2,698,288

Profit and loss account

2,459,372

2,048,960

SHAREHOLDERS' FUNDS

5,157,756

4,747,344

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2016 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 2 August 2016 and were signed on its behalf by:

I Heptonstall - Director

E Elias - 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 January

2015).

Turnover

Turnover represents property rents, excluding value added tax. Rent is recognised on a receivable basis.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Investment property

In accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) the investment

property is revalued annually to open market value and no depreciation is provided. The directors consider that

this accounting policy results in the financial statements giving a true and fair view. The effect of this departure

from the Companies Act 2006 has not been quantified because it is impracticable and, in the opinion of the

directors, would be misleading.

The aggregate surplus or deficit arising on revaluation is transferred to the revaluation reserve, except where a

deficit is deemed to represent a permanent diminution in value, in which case it is charged to the profit and loss

account.

Deferred tax

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by

the balance sheet date except that:

- deferred tax is not recognised on timing differences arising on revalued properties unless the company has

entered into a binding sale agreement and is not proposing to take advantage of rollover relief; and

- the recognition of deferred tax assets is limited to the extent that the company anticipates to make sufficient

taxable profits in the future to absorb the reversal of the underlying timing differences.

Deferred tax balances are not discounted.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 February 2015

14,988

Additions

500

At 31 January 2016

15,488

DEPRECIATION

At 1 February 2015

13,364

Charge for year

530

At 31 January 2016

13,894

NET BOOK VALUE

At 31 January 2016

1,594

At 31 January 2015

1,624

3.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 February 2015

and 31 January 2016

8,476,128

NET BOOK VALUE

At 31 January 2016

8,476,128

At 31 January 2015

8,476,128

4.

CREDITORS

Creditors include an amount of £ 1,604,359 (2015 - £ 1,845,910 ) for which security has been given.

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

2016

2015

£

£

Repayable by instalments

421,909

599,137

5.	CALLED UP SHARE CAPITAL

Allotted, Issued and fully paid:

Number:

Class:

Nominal

31.1.16

31.1.15

value:

£

£

9,120 (2015 - 96)

Ordinary

£0.01 (2015 - £1)

91

96

480

Ordinary A

£0.01

5

-

During the year, 96 ordinary shares of £1 nominal value per share were subdivided and reissued into 9,120

ordinary and 480 ordinary A shares of £0.01.