Kingchip Properties Limited - Abbreviated accounts 16.3

Kingchip Properties Limited - Abbreviated accounts 16.3


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REGISTERED NUMBER: 02752331 (England and Wales)














Abbreviated Unaudited Accounts

For The Year Ended 31st October 2016

for

Kingchip Properties Limited

Kingchip Properties Limited (Registered number: 02752331)






Contents of the Abbreviated Accounts
For The Year Ended 31st October 2016




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

Report of the Accountants 4

Kingchip Properties Limited

Company Information
For The Year Ended 31st October 2016







DIRECTOR: W J Lyons



REGISTERED OFFICE: Mill Barn
St.Owen's Cross
Hereford
Herefordshire
HR2 8LG



REGISTERED NUMBER: 02752331 (England and Wales)



ACCOUNTANTS: Wildin & Co
Accountants
& Statutory Auditors
Kings Buildings
Lydney
Gloucestershire
GL15 5HE



SOLICITORS: Shawcross & Co.
6 High Street
Ross on Wye
Herefordshire
HR9 5HL

Kingchip Properties Limited (Registered number: 02752331)

Abbreviated Balance Sheet
31st October 2016

31.10.16 31.10.15
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 372,511 881,231

CURRENT ASSETS
Cash at bank 672,468 19,556

CREDITORS
Amounts falling due within one year 644,719 575,437
NET CURRENT ASSETS/(LIABILITIES) 27,749 (555,881 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

400,260

325,350

CAPITAL AND RESERVES
Called up share capital 3 100 100
Profit and loss account 400,160 325,250
SHAREHOLDERS' FUNDS 400,260 325,350

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 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 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 director on 31st July 2017 and were signed by:





W J Lyons - Director


Kingchip Properties Limited (Registered number: 02752331)

Notes to the Abbreviated Accounts
For The Year Ended 31st October 2016

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 invoiced sales of services, excluding value added tax.

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

Land and buildings - not provided
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

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

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1st November 2015 888,334
Additions 104,990
Disposals (613,660 )
At 31st October 2016 379,664
DEPRECIATION
At 1st November 2015 7,103
Charge for year 50
At 31st October 2016 7,153
NET BOOK VALUE
At 31st October 2016 372,511
At 31st October 2015 881,231

3. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.16 31.10.15
value: £    £   
100 Ordinary 1 100 100

Kingchip Properties Limited

Report of the Accountants to the Director of
Kingchip Properties Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual
unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to three)
have been prepared.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31st October 2016 set out on pages two to three and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Wildin & Co
Accountants
& Statutory Auditors
Kings Buildings
Lydney
Gloucestershire
GL15 5HE


31st July 2017