138 Kingsland Road Limited - Accounts to registrar (filleted) - small 17.3

138 KINGSLAND ROAD LIMITED - Company Information

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REGISTERED NUMBER: 03907036 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2017

for

138 Kingsland Road Limited

Page

Company Information

Statement of Financial Position

Notes to the Financial Statements

DIRECTORS:

E Elias

I A Heptonstall

M Collins

PD Collins

SECRETARY:

I A Heptonstall

REGISTERED OFFICE:

10-14 Accommodation Road

Golders Green

London

NW11 8ED

REGISTERED NUMBER:

03907036 (England and Wales)

ACCOUNTANTS:

Grunberg & Co Limited

Chartered Accountants

10-14 Accommodation Road

Golders Green

London

NW11 8ED

FIXED ASSETS

Tangible assets

1,926

1,594

Investment property

10,922,828

8,476,128

10,924,754

8,477,722

CURRENT ASSETS

Debtors

43,749

29,035

Cash at bank

343,809

268,915

387,558

297,950

CREDITORS

Amounts falling due within one year

1,951,296

1,933,570

NET CURRENT LIABILITIES

(1,563,738

)

(1,635,620

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

9,361,016

6,842,102

CREDITORS

Amounts falling due after more than one year

(1,791,965

)

(2,073,638

)

PROVISIONS FOR LIABILITIES

(729,374

)

(325,071

)

NET ASSETS

6,839,677

4,443,393

CAPITAL AND RESERVES

Called up share capital

Fair value reserve

4,415,980

2,373,536

Retained earnings

2,423,601

2,069,761

6,839,677

4,443,393

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2017.

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

E Elias - Director

PD Collins - Director

1.	STATUTORY INFORMATION

138 Kingsland Road Limited 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 as modified by the revaluation of certain assets.

Turnover

Turnover represents the fair value of rents received or receivable, net of value added tax.

Rental income is recognised on a straight line basis over the term of the lease.

Tangible fixed assets

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

Plant and machinery

25% on reducing balance

Computer equipment

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Financial instruments

Debtors - Short term debtors are measured at transaction price, less any impairment.

Creditors - Short term creditors are measured at transaction price.

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 statement of financial position date.

Deferred tax

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

statement of financial position 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 1 (2016 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

COST

At 1 February 2016

8,348

7,140

15,488

Additions

975

At 31 January 2017

8,348

8,115

16,463

DEPRECIATION

At 1 February 2016

8,202

5,692

13,894

Charge for year

606

643

At 31 January 2017

8,239

6,298

14,537

NET BOOK VALUE

At 31 January 2017

109

1,817

1,926

At 31 January 2016

146

1,448

1,594

5.	INVESTMENT PROPERTY

Total

FAIR VALUE

At 1 February 2016

8,476,128

Revaluations

2,446,700

At 31 January 2017

10,922,828

NET BOOK VALUE

At 31 January 2017

10,922,828

At 31 January 2016

8,476,128

Fair value at 31 January 2017 is represented by:

Valuation in 2003

748,288

Valuation in 2008

500,000

Valuation in 2013

1,450,000

Valuation in 2017

2,446,700

Cost

5,777,840

10,922,828

If investment properties had not been revalued they would have been included at the following historical cost:

2017

2016

Cost

5,777,840

Investment properties were valued on an open market basis on 31 January 2017 by the directors .

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

Trade debtors

30,450

16,014

Prepayments and accrued income

13,299

13,021

43,749

29,035

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

Bank loans and overdrafts

249,275

245,999

Trade creditors

13,364

7,617

Corporation tax

82,177

84,243

Social security and other taxes

16,419

14,633

Other creditors

107,876

137,928

Amounts due to related companies

1,378,243

1,344,321

Accruals and deferred rent

103,942

98,829

1,951,296

1,933,570

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2017

2016

Bank loans due within one to two years

251,731

248,694

Bank loans due within two to five years

570,334

687,757

Bank loans due after more than five years

287,956

421,909

Accruals and deferred rent

681,944

715,278

1,791,965

2,073,638

Amounts falling due in more than five years:

Repayable by instalments

Bank loans due after more than five years

287,956

421,909

9.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

Bank loans

1,359,296

1,604,359

The bank loans are secured by fixed and floating charges over the assets of the company, dated 19 September

2003 and 31 March 2010.

10.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

At 1 February 2016

2,069,761

2,373,536

4,443,297

Profit for the year

2,396,284

Movement in fair value

(2,042,444

)

2,042,444

At 31 January 2017

2,423,601

4,415,980

6,839,581

Amounts totalling £4,415,980 (2016 - £2,373,536) included within the fair value reserve are not distributable.

11.	RELATED PARTY DISCLOSURES

Amounts due to related companies are advances from entities in which directors have material interests. These

amounts are interest free and repayable on demand.

12.	FIRST YEAR ADOPTION

These are the first financial statements that comply with FRS 102 section 1A for small entities. The date of

transition was the 1 February 2015.

The impact of applying the new accounting standard is stated in the reconciliation of the equity and the

reconciliation of profit or loss. Adjustments were required in equity and in the profit and loss account for the

year.