Kyte Developments & Trading Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 02369402 (England and Wales)

Financial Statements for the Year Ended 31 December 2016

for

Kyte Developments & Trading Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J C Francis

A Munro

SECRETARY:

J C Francis

REGISTERED OFFICE:

25 Pipit Drive

London

SW15 3AP

REGISTERED NUMBER:

02369402 (England and Wales)

ACCOUNTANTS:

CSL Partnership Limited

Chartered Certified Accountants

238 Station Road

Addlestone

Surrey

KT15 2PS

FIXED ASSETS

Property, plant and equipment

4

883

591

CURRENT ASSETS

Inventories

810,493

1,150,258

Debtors

5

183,584

264,039

Cash at bank

1,685,921

1,208,503

2,679,998

2,622,800

CREDITORS

Amounts falling due within one year

6

(35,174

)

(47,591

)

NET CURRENT ASSETS

2,644,824

2,575,209

TOTAL ASSETS LESS CURRENT LIABILITIES

2,645,707

2,575,800

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

2,645,607

2,575,700

SHAREHOLDERS' FUNDS

2,645,707

2,575,800

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 directors acknowledge their 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.

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

The financial statements were approved by the Board of Directors on 4 July 2017 and were signed on its behalf by:

J C Francis - Director

A Munro - Director

1.	STATUTORY INFORMATION

Kyte Developments & Trading 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Revenue

Revenue represents revenues receivable under contracts net of value added tax. Where contractual

obligations have been partially performed at the balance sheet date, revenue is recognised to the

extent that the company has obtained the right to consideration through its performance.

Inventories

Inventories includes properties for development. These are valued at the lower of cost and net

realisable value. Costs include all associated purchase costs as well as any direct costs in bring the

property up to its current condition.

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 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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2015 - 3 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Computer

equipment

£

COST

At 1 January 2016

1,108

Additions

991

At 31 December 2016

2,099

DEPRECIATION

At 1 January 2016

517

Charge for year

699

At 31 December 2016

1,216

NET BOOK VALUE

At 31 December 2016

883

At 31 December 2015

591

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade debtors

1,138

4,103

Other debtors

182,446

259,805

VAT

-

131

183,584

264,039

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade creditors

7,185

502

Tax

17,579

44,036

Social security and other taxes

2,449

-

VAT

1,067

-

Deferred income

2,802

-

Accrued expenses

4,092

3,053

35,174

47,591

7.	FIRST YEAR ADOPTION

This is the first year in which the financial statements have been prepared under FRS 102 (Section 1A).

Neither the opening equity, nor the profit or loss were affected as a result of the transition from UK GAAP

to FRS 102 (Section 1A).