K L Properties (UK) Ltd - Period Ending 2016-11-30

Company registration number: 04904098

K L Properties (UK) Ltd
 
  Annual Report and Unaudited Abbreviated Accounts
 
  Year Ended 30 November 2016
 

Beresfords
  Chartered Accountants
  Castle House
  Castle Hill Avenue
  Folkestone
  Kent
  CT20 2TQ

K L Properties (UK) Ltd
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3

K L Properties (UK) Ltd
(Company registration number: 04904098)
Abbreviated Balance Sheet
30 November 2016

		Note			2016 £			2015 £
Current assets
Stocks					2,590,412			1,936,315
Debtors					79,202			99,646
Cash at bank and in hand					81,318			2,994
					2,750,932			2,038,955
Creditors: Amounts falling due within one year					(1,887,890)			(1,171,841)
Net assets					863,042			867,114
Capital and reserves
Called up share capital		2			100			100
Profit and loss account					862,942			867,014
Shareholders' funds					863,042			867,114

The notes on page 3 form an integral part of these financial statements.
 
  Page 1

K L Properties (UK) Ltd
(Company registration number: 04904098)
Abbreviated Balance Sheet
30 November 2016......... continued

For the year ending 30 November 2016 the company was entitled to exemption from audit 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 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 .

Approved by the director on 10 March 2017

......................................... Mr M E Loat Director

The notes on page 3 form an integral part of these financial statements.
 
  Page 2

K L Properties (UK) Ltd
Notes to the Abbreviated Accounts
Year Ended 30 November 2016......... 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 January 2015).

Turnover

Turnover represents Rent receivable and where applicable sale of Property during the year.

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

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