Kingspride Investments Limited,Ltd - Accounts

Kingspride Investments Limited,Ltd - Accounts

KINGSPRIDE INVESTMENTS LIMITED - Company Information

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Kingspride Investments Limited
For the year ended 31 December 2015
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 03082721
2
Contents Page
Kingspride Investments Limited
For the year ended 31 December 2015
1
Balance Sheet
2 to 3
Notes to the Abbreviated Financial Statements
3
Abbreviated Balance Sheet
Kingspride Investments Limited
As at 31 December 2015
03082721
Registered Number :
£
£
2015
Notes
2014
Fixed assets
Tangible assets
2
1,518,729
1,486,671
1,518,729
1,486,671
Current assets
Debtors
9,062
6,339
Cash at bank and in hand
138,919
154,608
145,258
163,670
Creditors: amounts falling due within one year
3
(208,331)
(218,032)
(44,661)
(72,774)
Net current liabilities
Total assets less current liabilities
1,445,955
1,442,010
Creditors: amounts falling due after more than one year
4
(635,175)
(542,036)
903,919
Net assets
806,835
Capital and reserves
Called up share capital
100
5
100
Profit and loss account
903,819
806,735
903,919
806,835
Shareholders funds
For the year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
2) The director acknowledges his 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.
Date approved by the board: 24 October 2016
Munawer Rattansey Director
Signed on behalf of the board of directors
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4
Notes to the Abbreviated Financial Statements
Kingspride Investments Limited
For the year ended 31 December 2015
1 Accounting Policies
Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings
0% Per annum on cost
Plant and Machinery
25% Reducing balance
Fixtures and Fittings
25% Reducing balance
No depreciation is provided on the company's freehold properties since in the opinion of the director the expected useful lives
are sufficiently long and the estimated residual values are sufficiently high that any such depreciation would be immaterial. The
directors undertake an annual impairment review of these properties. These properties are being maintained on a regular basis.
2 Tangible fixed assets
Tangible fixed
assets
Cost or valuation
£
1,635,840
At 01 January 2015
38,082
Additions
At 31 December 2015
1,673,922
Depreciation
149,169
At 01 January 2015
6,024
Charge for year
155,193
At 31 December 2015
Net book values
At 31 December 2015
1,518,729
1,486,671
At 31 December 2014
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5
Notes to the Abbreviated Financial Statements
Kingspride Investments Limited
For the year ended 31 December 2015
2015
3 Creditors: amounts falling due within one year
£
£
2014
54,000
30,000
Bank loans and overdrafts (secured)
Bank loans are secured on the freehold property.
2014
2015
4 Creditors due after more than one year
£
£
516,093
573,392
Bank loans and overdrafts (secured)
Bank loans are secured on the freehold property.
5 Share capital
Authorised
100 Ordinary shares of £1.00 each
Allotted called up and fully paid
2015
2014
£
£
100 Ordinary shares of £1.00 each
100
100
100
100
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