Kingspride Investments Limited,Ltd - AccountsLtd - Accounts

Kingspride Investments Limited,Ltd - AccountsLtd - Accounts

KINGSPRIDE INVESTMENTS LIMITED - Company Information

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2016-01-01 03082721 2016-12-31 03082721 2016-01-01 2016-12-31 03082721 2015-12-31 03082721 2015-01-01 2015-12-31 03082721 uk-core:WithinOneYear 2015-12-31 03082721 uk-core:WithinOneYear 2016-12-31 03082721 uk-core:AfterOneYear 2015-12-31 03082721 uk-core:AfterOneYear 2016-12-31 03082721 uk-core:ShareCapital 2016-12-31 03082721 uk-core:ShareCapital 2015-12-31 03082721 uk-core:RetainedEarningsAccumulatedLosses 2016-12-31 03082721 uk-core:RetainedEarningsAccumulatedLosses 2015-12-31 03082721 uk-bus:Director1 2016-01-01 2016-12-31 03082721 uk-core:LandBuildings 2016-01-01 2016-12-31 03082721 uk-core:PlantMachinery 2016-01-01 2016-12-31 03082721 uk-core:OfficeEquipment 2016-01-01 2016-12-31 03082721 uk-core:OfficeEquipment 2015-12-31 03082721 uk-core:PlantMachinery 2015-12-31 03082721 uk-core:LandBuildings 2015-12-31 03082721 uk-core:LandBuildings 2016-12-31 03082721 uk-core:PlantMachinery 2016-12-31 03082721 uk-core:OfficeEquipment 2016-12-31 03082721 uk-core:WithinOneYear uk-core:Secured 2016-12-31 03082721 uk-core:WithinOneYear uk-core:Secured 2015-12-31 03082721 uk-core:WithinOneYear 2016-01-01 2016-12-31 03082721 uk-core:AfterOneYear 2016-01-01 2016-12-31 iso4217:GBP 03082721 uk-bus:AuditExemptWithAccountantsReport 2016-01-01 2016-12-31 03082721 uk-bus:FRS102 2016-01-01 2016-12-31 03082721 uk-bus:FullAccounts 2016-01-01 2016-12-31 03082721 uk-bus:PrivateLimitedCompanyLtd 2016-01-01 2016-12-31
Kingspride Investments Limited
Registered Number:03082721
For the year ended 31 December 2016
England and Wales
Unaudited Financial Statements
2
For the year ended 31 December 2016
Kingspride Investments Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
As at 31 December 2016
Kingspride Investments Limited
Statement of Financial Position
Registered Number :
03082721
£
£
2015
2016
Notes
Fixed assets
Property, plant and equipment
1,581,394
1,518,729
2
1,581,394
1,518,729
Current assets
Trade and other receivables
6,339
9,331
3
138,919
Cash and cash equivalents
177,947
187,278
145,258
Trade and other payables: amounts falling due within one year
(218,032)
(170,533)
4
(72,774)
16,745
Net current assets
Total assets less current liabilities
1,598,139
1,445,955
Trade and other payables: amounts falling due after more than one
year
(542,036)
(650,693)
5
947,446
Net assets
903,919
Capital and reserves
Called up share capital
100
100
Retained earnings
947,346
903,819
947,446
903,919
Shareholders' funds
For the year ended 31 December 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 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 proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
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.
Munawer Rattansey Director
These financial statements were approved and authorised for issue by the Board on 30 September 2017 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 December 2016
Kingspride Investments Limited
Notes to the Financial Statements
Statutory Information
Kingspride Investments Limited is a private limited company, limited by shares, domiciled in England and Wales, registration
number 03082721.
Registered address:
51 Camberwell Church Street
London
SE5 8TR
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A 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 costs convention.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and buildings
0% Per annum on cost
Plant and machinery
25% Reducing balance
25% Reducing balance
Fixtures and fittings
No depreciation is provided on the company''s freehold properties since in the opinion of the directors the expected useful
lives are sufficiently long and the estimated residual values are sufficiently high that any such depreciation would be
immaterial. The directors undertake an annual impairment review of these properties.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
2 of 4
5
For the year ended 31 December 2016
Kingspride Investments Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Fixtures and
fittings
Plant and
machinery
Land and
buildings
£
£
£
£
Cost or valuation
At 01 January 2016
1,673,922
99,314
73,949
1,500,659
67,724
3,071
5,118
59,535
Additions
At 31 December 2016
1,560,194
79,067
102,385
1,741,646
Provision for depreciation and impairment
At 01 January 2016
155,193
89,637
65,556
-
Charge for year
5,059
2,390
2,669
-
At 31 December 2016
160,252
92,027
68,225
-
At 31 December 2016
Net book value
1,560,194
10,842
10,358
1,581,394
At 31 December 2015
1,500,659
8,393
9,677
1,518,729
3. Trade and other receivables
2015
2016
£
£
Other debtors
9,331
6,339
4. Trade and other payables: amounts falling due within one year
2015
2016
£
£
Bank loans and overdraft (secured)
30,000
54,000
Taxation and social security
52,998
72,251
Other creditors
87,535
91,781
170,533
218,032
Bank loans are secured on the freehold property.
5. Trade and other payables: amounts falling due after more than one year
2015
2016
£
£
Bank loans and overdraft (secured)
641,496
516,093
Other creditors
9,197
25,943
650,693
542,036
Bank loans are secured on the freehold property.
3 of 4
6
For the year ended 31 December 2016
Kingspride Investments Limited
Notes to the Financial Statements Continued
6. Related party transactions
The controlling party is Mr M Rattansey
4 of 4