KNIGHT_MORRISON_PROPERTIE - Accounts

KNIGHT MORRISON PROPERTIES LIMITED - Company Information

Print Friendly Version

Company Registration No. 05137105 (England and Wales)

KNIGHT MORRISON PROPERTIES LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2016

KNIGHT MORRISON PROPERTIES LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

KNIGHT MORRISON PROPERTIES LTD

ABBREVIATED BALANCE SHEET

AS AT

30 APRIL 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

167,242

168,516

Current assets

Cash at bank and in hand

268,160

287,300

Creditors: amounts falling due within one year

(19,556)

(27,478)

Net current assets

248,604

259,822

Total assets less current liabilities

415,846

428,338

Capital and reserves

Called up share capital

Profit and loss account

415,796

428,288

Shareholders' funds

415,846

428,338

For the financial year ended 30 April 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

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

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 15 December 2016

Mr Barry Knight

Director

Company Registration No. 05137105

KNIGHT MORRISON PROPERTIES LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets include investment properties professionally valued by Chartered Surveyors on an existing use open market value basis. No depreciation or amortisation is provided in respect of freehold investment properties. This treatment is in compliance with the Financial Reporting Standard for Smaller Entities,which, although a departure from the Companies Act 2006, is considered necessary to give a true and fair view. Other tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold

not depreciated

Fixture,fittings & equipment

25% and 33.3% straight line

1.5

Revenue recognition

Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.

1.6

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

KNIGHT MORRISON PROPERTIES LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 May 2015 & at 30 April 2016

173,110

Depreciation

At 1 May 2015

4,593

Charge for the year

1,275

At 30 April 2016

5,868

Net book value

At 30 April 2016

167,242

At 30 April 2015

168,516

Share capital

2016

2015

Allotted, called up and fully paid

50 Ordinary shares of £1 each