Nikki Kelly Properties Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 05262105 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

NIKKI KELLY PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Ms N Kelly

SECRETARY:

D Kelly

REGISTERED OFFICE:

251 Church Street

Blackpool

Lancashire

FY1 3PB

REGISTERED NUMBER:

05262105 (England and Wales)

ACCOUNTANTS:

Whitehead & Howarth

327 Clifton Drive South

Lytham St Annes

Lancashire

FY8 1HN

BANKERS:

Yorkshire Bank plc

31 Westcliffe Drive

Blackpool

Lancashire

FY3 7BW

FIXED ASSETS

Tangible assets

3

1,513

1,780

Investment property

4

237,501

237,501

239,014

239,281

CURRENT ASSETS

Debtors

5

6,321

17,783

Cash at bank

4,214

4,182

10,535

21,965

CREDITORS

Amounts falling due within one year

6

63,589

63,748

NET CURRENT LIABILITIES

(53,054

)

(41,783

)

TOTAL ASSETS LESS CURRENT LIABILITIES

185,960

197,498

CREDITORS

Amounts falling due after more than one year

7

(92,807

)

(98,794

)

PROVISIONS FOR LIABILITIES

(6,865

)

(6,865

)

NET ASSETS

86,288

91,839

CAPITAL AND RESERVES

Called up share capital

1

1

Other non-distributable

reserve

40,339

40,339

Retained earnings

45,948

51,499

SHAREHOLDERS' FUNDS

86,288

91,839

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director on 31 August 2018 and were signed by:

Ms N Kelly - Director

1.	STATUTORY INFORMATION

Nikki Kelly Properties 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.

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 total invoice value, excluding value added tax, of rental charged during the year and

derives from the provision of goods falling within the company's ordinary activities.

Tangible fixed assets

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

Plant and machinery etc

-

15% 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.

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.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2017

and 31 December 2017

3,498

DEPRECIATION

At 1 January 2017

1,718

Charge for year

267

At 31 December 2017

1,985

NET BOOK VALUE

At 31 December 2017

1,513

At 31 December 2016

1,780

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2017

and 31 December 2017

237,501

NET BOOK VALUE

At 31 December 2017

237,501

At 31 December 2016

237,501

Fair value at 31 December 2017 is represented by:

£

Valuation in 2016

31,859

Cost

205,642

237,501

If the investment property had not been revalued it would have been included at the following historical cost:

31.12.17

31.12.16

£

£

Cost

205,642

205,642

Aggregate depreciation

(26,791

)

(22,678

)

The investment property was valued on a fair value basis on 31 December 2017 by the director .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Other debtors

6,321

17,783

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Bank loans and overdrafts

5,940

5,940

Taxation and social security

2,978

2,213

Other creditors

54,671

55,595

63,589

63,748

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.17

31.12.16

£

£

Bank loans

92,807

98,794

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

69,047

75,034

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.17

31.12.16

£

£

Bank loans

98,747

104,734

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits from a director subsisted during the years ended 31 December 2017 and

31 December 2016:

31.12.17

31.12.16

£

£

Ms N Kelly

Balance outstanding at start of year

(17,783

)

(2,992

)

Amounts advanced

17,783

2,992

Amounts repaid

(6,321

)

(17,783

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(6,321

)

(17,783

)

10.	RELATED PARTY DISCLOSURES

During the year the company received rental income amounting to £25,000 (2016: £25,000) from Jim Kelly &

Company Limited, a company where N Kelly is both director and shareholder. At the year end the company

owed £53,867 (2016: £53,867) to Jim Kelly & Company Limited.

11.	ULTIMATE CONTROLLING PARTY

The company is controlled by Ms Kelly.