| KIAFIELD DEVELOPMENTS LIMITED |
|
| Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of KIAFIELD DEVELOPMENTS LIMITED for the year ended 30 June 2016 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of KIAFIELD DEVELOPMENTS LIMITED for the year ended 30 June 2016 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
icaew.com/membershandbook. |
| This report is made solely to the Board of Directors of KIAFIELD DEVELOPMENTS LIMITED, as a body, in accordance with the terms of our engagement letter dated 22 August 2014. Our work has been undertaken solely to prepare for your approval the accounts of KIAFIELD DEVELOPMENTS LIMITED and state those matters that we have agreed to state to the Board of Directors of KIAFIELD DEVELOPMENTS LIMITED, 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 KIAFIELD DEVELOPMENTS LIMITED and its Board of Directors as a body for our work or for this report. |
| It is your duty to ensure that KIAFIELD DEVELOPMENTS LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of KIAFIELD DEVELOPMENTS LIMITED. You consider that KIAFIELD DEVELOPMENTS LIMITED is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the accounts of KIAFIELD DEVELOPMENTS LIMITED. 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 abbreviated accounts. |
|
| Bass & Co |
| Chartered Accountants |
| 123 Riddlesdown Road |
| Purley |
| Surrey |
| CR8 1DL |
|
| 10 November 2016 |
|
| KIAFIELD DEVELOPMENTS LIMITED |
| Registered number: |
02744622 |
| Abbreviated Balance Sheet |
| as at 30 June 2016 |
|
| Notes |
|
|
2016 |
|
|
2015 |
| £ |
£ |
| Fixed assets |
| Investments |
2 |
|
|
1 |
|
|
1 |
|
| Current assets |
| Debtors |
3 |
|
1,113,743 |
|
|
1,386,861 |
| Cash at bank and in hand |
|
|
73,358 |
|
|
17,226 |
|
|
|
1,187,101 |
|
|
1,404,087 |
|
| Creditors: amounts falling due within one year |
|
|
(20,221) |
|
|
(20,032) |
|
| Net current assets |
|
|
|
1,166,880 |
|
|
1,384,055 |
|
| Net assets |
|
|
|
1,166,881 |
|
|
1,384,056 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
4 |
|
|
1,000 |
|
|
1,000 |
| Profit and loss account |
|
|
|
1,165,881 |
|
|
1,383,056 |
|
| Shareholders' funds |
|
|
|
1,166,881 |
|
|
1,384,056 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit 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 the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| B R Kruse |
| Director |
| Approved by the board on 10 November 2016 |
|
| KIAFIELD DEVELOPMENTS LIMITED |
| Notes to the Abbreviated Accounts |
| for the year ended 30 June 2016 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
|
|
Turnover |
|
Turnover is represented by share of profits from joint venture activities and management fees receivable, excluding value added tax. |
|
|
Investments |
|
Investments held as fixed asets are stated at cost less any provision for permanent diminution in value. |
|
|
| 2 |
Investments |
£ |
|
|
Cost |
|
At 1 July 2015 |
1 |
|
|
At 30 June 2016 |
1 |
|
|
|
|
|
|
|
|
The company owns 50% of the share capital of Kiafield Properties Limited, a company registered in England and Wales. As at 30 June 2016 Kiafield Properties Limited had not commenced to trade and had share capital and reserves amounting to £2. |
|
|
|
| 3 |
Debtors |
2016 |
|
2015 |
| £ |
£ |
|
Debtors include: |
|
|
Amounts due after more than one year |
1,048,586 |
|
1,316,637 |
|
|
|
|
|
|
|
|
|
|
The above amount due after more than one year is due from a joint venture in which the company has a 50% interest. The company's share of the joint venture profits up to 30 June 2016 are included in these accounts. |
|
|
|
| 4 |
Share capital |
Nominal |
|
2016 |
|
2016 |
|
2015 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
1,000 |
|
1,000 |
|
1,000 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Related party transactions |
|
|
During the year the company has been charged management fees and other costs of £125,000 (2015 - £95,000) by Dotebroom Limited, a company in which Mr R H Davies has a material interest. Management fees of £125,000 (2015 - £95,000) have also been charged by Charlstair Limited, a company in which MR B R Kruse has a material interest. |
|
|
At the year end the following amounts were owed by Kiafield Developments and are included in other creditors. |
|
|
|
|
|
|
|
2016 |
|
2015 |
|
|
|
|
|
|
£ |
|
£ |
|
Dotebroom Limited |
|
|
|
|
9,203 |
|
9,203 |
|
Charlstair Limited |
|
|
|
|
8,378 |
|
8,378 |
