HKBP Limited - Period Ending 2016-09-30

Registration number: 8293167

HKBP Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2016
 

Accsys Accountants Limited
Milwood House
36B Albion Place
Maidstone
Kent
ME14 5DZ

HKBP Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
HKBP Limited
for the Year Ended 30 September 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of HKBP Limited for the year ended 30 September 2016 set out on pages 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of HKBP Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of HKBP Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than HKBP Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that HKBP 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 profit of HKBP Limited. You consider that HKBP 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 HKBP 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 statutory accounts.

......................................

Accsys Accountants Limited
Milwood House
36B Albion Place
Maidstone
Kent
ME14 5DZ

30 March 2017

Page 1

HKBP Limited
(Registration number: 8293167)
Abbreviated Balance Sheet at 30 September 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					32,125			33,952
Tangible fixed assets					2,759,894			1,471,531
					2,792,019			1,505,483
Current assets
Debtors					92,327			45,934
Cash at bank and in hand					38,055			47,932
					130,382			93,866
Creditors: Amounts falling due within one year					(36,543)			(40,010)
Net current assets					93,839			53,856
Total assets less current liabilities					2,885,858			1,559,339
Creditors: Amounts falling due after more than one year					(1,352,159)			(1,396,491)
Net assets					1,533,699			162,848
Capital and reserves
Called up share capital		3			100			100
Revaluation reserve					1,285,645			-
Profit and loss account					247,954			162,748
Shareholders' funds					1,533,699			162,848

For the year ending 30 September 2016 the company was entitled to exemption 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 30 March 2017

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 2

HKBP Limited
(Registration number: 8293167)
Abbreviated Balance Sheet at 30 September 2016
......... continued

.........................................
Mr John Hawkins
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 3

HKBP Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	5% Straight line basis

Depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Asset class	Depreciation method and rate
Fixtures and fittings	25% reducing balance
Office Equipment	33% reducing balance

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.

Page 4

HKBP Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 October 2015		36,540			1,473,296			1,509,836
Revaluations		-			1,285,645			1,285,645
Additions		-			5,020			5,020
At 30 September 2016		36,540			2,763,961			2,800,501
Depreciation
At 1 October 2015		2,588			1,765			4,353
Charge for the year		1,827			2,302			4,129
At 30 September 2016		4,415			4,067			8,482
Net book value
At 30 September 2016		32,125			2,759,894			2,792,019
At 30 September 2015		33,952			1,471,531			1,505,483

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Country of incorporation	Holding	Proportion of voting rights and shares held	Principal activity
Subsidiary undertakings
Duncan Lacey Services Limited	United Kingdom	Ordinary	100%	Commercial landlord

3	Share capital

Allotted, called up and fully paid shares

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

Page 5