KDKS Properties Limited - Period Ending 2015-11-30

 
 
 
 
 
 
 
  KDKS Properties Limited
 
  Unaudited Abbreviated Accounts
  Year Ended 30 November 2015
 
  Company Registration Number: 07853647

KDKS Properties Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

KDKS Properties Limited
Abbreviated Balance Sheet
30 November 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets		2			591,387			592,513
Current assets
Debtors					331,917			310
Cash at bank and in hand					22,519			11,479
					354,436			11,789
Creditors: Amounts falling due within one year					(270,442)			(254,433)
Net current assets/(liabilities)					83,994			(242,644)
Total assets less current liabilities					675,381			349,869
Creditors: Amounts falling due after more than one year					(306,942)			-
Net assets					368,439			349,869
Capital and reserves
Called up share capital		4			300			300
Revaluation reserve					341,338			341,338
Profit and loss account					26,801			8,231
Shareholders' funds					368,439			349,869

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

KDKS Properties Limited
Abbreviated Balance Sheet
30 November 2015 ......... continued

For the year ending 30 November 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 31 August 2016 and signed on its behalf by:

Mr K Seaborne
Director

Company Registration Number: 07853647

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

KDKS Properties Limited
Notes to the Abbreviated Accounts
Year Ended 30 November 2015 ......... continued

1	Accounting policies

Basis of preparation

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).

Turnover

Turnover represents rental income receivable.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Motor vehicles	15% reducing balance
Fixtures and fittings	15% reducing balance

Investment properties

Investment properties are revalued annually at their open market value in accordance with the FRSSE (effective April 2008). The surplus or deficit on revaluation is transferred to a revaluation reserve except where the deficit reduces the property below its historical cost, in which case it is taken to the profit and loss account. No depreciation is provided on investment properties which is a departure from the requirements of the Companies Act 2006. In the opinion of the directors these properties are held primarily for their investment potential and so their current value is of more significance than any measure of consumption and to depreciate them would not give a true and fair view. The provisions of the FRSSE (effective April 2008) in respect of investment properties have therefore been adopted in order to give a true and fair view. If this departure from the act had not been made, the oss for the year would have been increased by the depreciation. However, the amount of depreciation cannot reasonably be quantified and the amount which might otherwise have been shown cannot be separately identified or quantified.

Page 3

KDKS Properties Limited
Notes to the Abbreviated Accounts
Year Ended 30 November 2015 ......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 December 2014		595,398			595,398
At 30 November 2015		595,398			595,398
Depreciation
At 1 December 2014		2,885			2,885
Charge for the year		1,126			1,126
At 30 November 2015		4,011			4,011
Net book value
At 30 November 2015		591,387			591,387
At 30 November 2014		592,513			592,513

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2015 £			2014 £
Amounts falling due within one year		11,466			-
Amounts falling due after more than one year		306,942			-
Total secured creditors		318,408			-

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		300			300			300			300

Page 4