Kiwi Estates Ltd - Accounts to registrar

REGISTERED NUMBER: 04607893 (England and Wales)

ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

KIWI ESTATES LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr J J Devereux

REGISTERED OFFICE:

Solar House

282 Chase Road

London

N14 6NZ

REGISTERED NUMBER:

04607893 (England and Wales)

ACCOUNTANTS:

Freemans Partnership LLP

Chartered Certified Accountants

Solar House

282 Chase Road

London

N14 6NZ

FIXED ASSETS

Investment property

3

6,685,350

6,835,350

CURRENT ASSETS

Stocks

526,903

-

Debtors

507,395

148,872

Cash at bank

345,783

267,663

1,380,081

416,535

CREDITORS

Amounts falling due within one year

182,798

108,267

NET CURRENT ASSETS

1,197,283

308,268

TOTAL ASSETS LESS CURRENT
LIABILITIES

7,882,633

7,143,618

CREDITORS

Amounts falling due after more than one
year

3,636,041

3,227,537

NET ASSETS

4,246,592

3,916,081

CAPITAL AND RESERVES

Called up share capital

100

Revaluation reserve

4

2,382,539

2,407,539

Retained earnings

1,863,953

1,508,442

SHAREHOLDERS' FUNDS

4,246,592

3,916,081

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2016 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 8 May 2017 and were signed by:

Mr J J Devereux - Director

1.	STATUTORY INFORMATION

Kiwi Estates Ltd is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover consists of rents receivable.

Investment property

Investment properties are revalued annually at their open market value in accordance with FRSSE (effective

April 2008). The surplus or deficit on revaluation is transferred to a revaluation reserve except where the deficit

reduces the property below its historical cost, in which case it is taken to the profit and loss account.

No depreciation is provided on investment properties which is a departure from the requirements of the

Companies Act 2006.In the opinion of the director these properties are held primarily for their investment

potential and so their current value is of more significance than any measure of consumption and to depreciate

them would not give a true and fair view. The provisions of the FRSSE (effective April 2008) in respect of

investment properties have therefore been adopted in order to give a true and fair view. If this departure from the

Act had been made, the profit/loss for the year would have been reduced by depreciation.

However, the amount of depreciation cannot reasonably be quantified and the amount, which might otherwise

have been shown, cannot be separately identified or quantified.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2016

6,835,350

Disposals

(150,000

)

At 31 December 2016

6,685,350

NET BOOK VALUE

At 31 December 2016

6,685,350

At 31 December 2015

6,835,350

Cost or valuation at 31 December 2016 is represented by:

£

Valuation in 2010

701,027

Valuation in 2014

1,706,512

Valuation in 2016

(25,000

)

Cost

4,302,811

6,685,350

4.

RESERVES

Revaluation

reserve

£

At 1 January 2016

2,407,539

Elimination on disposal

(25,000

)

At 31 December 2016

2,382,539

5.	RELATED PARTY DISCLOSURES

The director has provided a £100,000 personal guarantee for one of the company's bank loans.The director's wife

and major shareholder Mrs E Devereux has provided a long term interest free loan of £1,145,000 to the

company.The Director has also provided a long term interest free loan of £1,392,957 to the company.

6.	ULTIMATE CONTROLLING PARTY

The company is controlled by Mr J J Devereux, the managing director, as a result of controlling directly or

indirectly 100 % of the issued ordinary share capital.

Kiwi Estates Ltd - Accounts to registrar - small 17.1.1

Kiwi Estates Ltd - Accounts to registrar - small 17.1.1