Kingsway (Rochdale) Limited Small abridged accounts
Kingsway (Rochdale) Limited Small abridged accounts
STATEMENT OF CONSENT TO PREPARE ABRIDGED FINANCIAL STATEMENTS |
COMPANY REGISTRATION NUMBER:
09188360
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FOR THE YEAR ENDED |
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ABRIDGED FINANCIAL STATEMENTS |
YEAR ENDED 30 JUNE 2017
CONTENTS |
PAGES |
Officers and professional advisers |
1 |
Abridged statement of financial position |
2 to 3 |
Notes to the abridged financial statements |
4 to 5 |
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OFFICERS AND PROFESSIONAL ADVISERS |
The board of directors |
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Registered office |
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Cheshire |
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Accountants |
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Chartered Accountants |
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11 - 16 Prudential Buildings |
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61 St Petersgate |
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Stockport |
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Cheshire |
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SK1 1DH |
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Bankers |
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Acorn Business Park |
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8 Heaton Lane |
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Stockport |
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SK4 1AS |
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ABRIDGED STATEMENT OF FINANCIAL POSITION |
2017 |
2016 |
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Note |
£ |
£ |
£ |
FIXED ASSETS
Tangible assets |
4 |
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CURRENT ASSETS
Debtors |
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Cash at bank and in hand |
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– |
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------- |
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CREDITORS: amounts falling due within one year |
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NET CURRENT LIABILITIES |
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------------ |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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PROVISIONS
Taxation including deferred tax |
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– |
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NET ASSETS |
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CAPITAL AND RESERVES
Called up share capital |
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Profit and loss account |
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SHAREHOLDERS FUNDS |
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In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
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ABRIDGED STATEMENT OF FINANCIAL POSITION (continued) |
These abridged financial statements were approved by the
board of directors
and authorised for issue on
28 March 2018
, and are signed on behalf of the board by:
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Director |
Company registration number:
09188360
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NOTES TO THE ABRIDGED FINANCIAL STATEMENTS |
YEAR ENDED 30 JUNE 2017
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 11 - 16 Prudential Buildings, 61 St Petersgate, Stockport, SK1 1DH, Cheshire.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 July 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 7.
Revenue recognition
Corporation tax
Tangible assets
Impairment of fixed assets
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4.
Tangible assets
£ |
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Cost or valuation |
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At 1 July 2016 |
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Revaluations |
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At 30 June 2017 |
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Depreciation |
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At 1 July 2016 and 30 June 2017 |
– |
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Carrying amount |
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At 30 June 2017 |
1,622,558 |
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At 30 June 2016 |
877,539 |
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Tangible assets held at valuation
The freehold property has been valued on an
open market basis
by the directors at 30 June 2017
. The historical cost of this property was £ 877,539
5.
Related party transactions
Included in creditors falling due within one year is an amount of £
797,671
(2016: £ 817,483
) owed to Assembly Property Holdings Limited
. No interest has been charged to the company in respect of this loan which is repayable on demand.
6.
Controlling party
In the opinion of the directors the ultimate parent company is
Assembly Property Holdings Limited
, a company registered in England and Wales.
7.
Transition to FRS 102
These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 July 2015.
No transitional adjustments were required in equity or profit or loss for the year.