Kelsall Properties Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 03713234 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2016

for

Kelsall Properties Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Dr N A King

Mrs E M Hulse

SECRETARY:

Dr N A King

REGISTERED OFFICE:

Beech Croft

29 Stock Lane

Shavington

Crewe

Cheshire

CW2 5ED

REGISTERED NUMBER:

03713234 (England and Wales)

ACCOUNTANTS:

Mayes Business Partnership Ltd

Chartered Certified Accountants

22-28 Willow Street

Accrington

Lancashire

BB5 1LP

FIXED ASSETS

Tangible assets

2

1,652,475

1,431,475

Investments

3

402,316

433,136

2,054,791

1,864,611

CURRENT ASSETS

Debtors

1,525

1,936

Cash at bank

53,230

9,709

54,755

11,645

CREDITORS

Amounts falling due within one year

27,997

13,444

NET CURRENT ASSETS/(LIABILITIES)

26,758

(1,799

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,081,549

1,862,812

CREDITORS

Amounts falling due after more than one
year

663,957

565,557

NET ASSETS

1,417,592

1,297,255

CAPITAL AND RESERVES

Called up share capital

4

475,003

Profit and loss account

942,589

822,252

SHAREHOLDERS' FUNDS

1,417,592

1,297,255

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 19 November 2016 and were signed on its behalf
by:

Dr N A King - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net rents receivable.

Tangible fixed assets

Depreciation is not provided on the freehold properties, which are held at cost and are classified as investment

properties as defined in the Financial Reporting Standard for Smaller Entities (effective January 2015).

The directors are of the opinion that the market values of the properties are considerably in excess of book values

but do not consider it cost beneficial to obtain a professional valuation in order to incorporate a revaluation of

the properties in the accounts. This is a breach of the Financial Reporting Standard for Smaller Entities (effective

January 2015).

Investments

Fixed asset investments are held at cost.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

1,431,475

Additions - Properties

221,000

At 31 March 2016

1,652,475

NET BOOK VALUE

At 31 March 2016

1,652,475

At 31 March 2015

1,431,475

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 April 2015

433,136

Additions

39,454

Disposals

(70,274

)

At 31 March 2016

402,316

NET BOOK VALUE

At 31 March 2016

402,316

At 31 March 2015

433,136

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/16

31/3/15

value:

£

475,003

Ordinary

£1

475,003

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors have loaned monies to the company as follows:

31/03/16

31/03/15

£

N A King

221,319

188,519

J P King

221,319

188,519

E M Hulse

221,319

188,519

663,957

565,557