Kitazono Property Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06532671 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 November 2017

for

Kitazono Property Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

T Kitazono

E T Kitazono

SECRETARY:

E T Kitazono

REGISTERED OFFICE:

29 Edgehill Road

Purley

Surrey

CR6 2ND

REGISTERED NUMBER:

06532671 (England and Wales)

ACCOUNTANTS:

Thornton Springer LLP

Chartered Accountants

67 Westow Street

Upper Norwood

London

SE19 3RW

FIXED ASSETS

Investments

5

2,524,485

2,524,485

CURRENT ASSETS

Cash at bank

260,013

126,204

CREDITORS

Amounts falling due within one year

6

(2,479,957

)

(2,392,795

)

NET CURRENT LIABILITIES

(2,219,944

)

(2,266,591

)

TOTAL ASSETS LESS CURRENT LIABILITIES

304,541

257,894

CAPITAL AND RESERVES

Called up share capital

7

2

2

Retained earnings

8

304,539

257,892

SHAREHOLDERS' FUNDS

304,541

257,894

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 30 August 2018 and were signed on its behalf by:

T Kitazono - Director

1.	STATUTORY INFORMATION

Kitazono Property 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about Kitazono Property Limited as an individual company and do

not contain consolidated financial information as the parent of a group. The company has taken the option under

Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Going concern

Current liabilities exceed current assets by £2,219,944 which indicates that the company may not be able to pay

its liabilities as they fall due. However, included within creditors is an informal loan from Ryohei Ishikawa

Limited, the company's subsidiary company, of £1,918,341, which will not be repaid until funds are available.

There is also a loan relating to the original purchase of Ryohei Ishikawa Limited in 2008. The lender has agreed

informally to reduce the repayments on account in exchange for a reduction in the balance of the loan using the

proceeds from the disposal of investment properties as soon as practicable. For this reason the directors consider

it appropriate to prepare these accounts on a going concern basis.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2016 - 2 ) .

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 December 2016

and 30 November 2017

2,524,485

NET BOOK VALUE

At 30 November 2017

2,524,485

At 30 November 2016

2,524,485

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.17

30.11.16

£

£

Amounts owed to group undertakings

1,918,341

1,211,463

Other creditors

561,616

1,181,332

2,479,957

2,392,795

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.17

30.11.16

value:

£

£

2

Ordinary

£1

2

2

8.

RESERVES

Retained

earnings

£

At 1 December 2016

257,892

Profit for the year

46,647

At 30 November 2017

304,539