Kilmaurs (Holdings) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00663938 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

KILMAURS (HOLDINGS) LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R Briggs - Price

Mr K Newman

REGISTERED OFFICE:

Dean Court Lodge

41 Dean Court Road

Rottingdean

Brighton

East Sussex

BN2 7DL

REGISTERED NUMBER:

00663938 (England and Wales)

ACCOUNTANTS:

Blow Abbott Limited

36 High Street

Cleethorpes

North East Lincs

DN35 8JN

FIXED ASSETS

Tangible assets

4

7,000

8,710

Investment property

5

3,258,575

3,320,000

3,265,575

3,328,710

CURRENT ASSETS

Debtors

6

76,387

131,313

Cash at bank

50,514

37,965

126,901

169,278

CREDITORS

Amounts falling due within one year

7

62,439

77,085

NET CURRENT ASSETS

64,462

92,193

TOTAL ASSETS LESS CURRENT LIABILITIES

3,330,037

3,420,903

CREDITORS

Amounts falling due after more than one year

8

(555,413

)

(550,458

)

PROVISIONS FOR LIABILITIES

(89,070

)

(101,675

)

NET ASSETS

2,685,554

2,768,770

CAPITAL AND RESERVES

Called up share capital

10

45,000

45,000

Fair value reserve

11

339,733

399,733

Retained earnings

2,300,821

2,324,037

SHAREHOLDERS' FUNDS

2,685,554

2,768,770

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 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 21 September 2018 and were signed on its behalf by:

Mr K Newman - Director

1.	STATUTORY INFORMATION

Kilmaurs (Holdings) 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 is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

During the year 28.5% of the turnover related to overseas income (2016 : 23.2 %).

Tangible fixed assets

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

Fixtures and fittings

-

20% 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 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the statement of financial position date. Transactions in foreign currencies are translated into sterling

at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account

in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2016 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2017

17,303

Additions

515

At 31 December 2017

17,818

DEPRECIATION

At 1 January 2017

8,593

Charge for year

2,225

At 31 December 2017

10,818

NET BOOK VALUE

At 31 December 2017

7,000

At 31 December 2016

8,710

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2017

3,320,000

Additions

13,575

Revaluations

(75,000

)

At 31 December 2017

3,258,575

NET BOOK VALUE

At 31 December 2017

3,258,575

At 31 December 2016

3,320,000

On the 31st December 2017 the Investment Properties were valued by Mr K Newman who is a

director of the company. His open market value of the Investment Properties was £3,258,575.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

3,415

63,115

Directors' loan accounts

70,479

65,948

Prepayments and accrued income

2,493

2,250

76,387

131,313

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

48,000

66,000

Trade creditors

739

274

Tax

1,800

-

Other creditors

7,810

6,862

Accrued expenses

4,090

3,949

62,439

77,085

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans - 1-2 years

48,000

66,000

Bank loans - 2-5 years

144,000

196,575

Bank loans more 5 yr by instal

363,413

287,883

555,413

550,458

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

363,413

287,883

9.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

603,413

616,458

Personal guarantees/security has been made by the directors regarding bank loans, 2017 : £315,530.

(2016 : £328,575). This amount is included in the total of the bank loans shown above.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

45,000

Ordinary

1

45,000

45,000

11.

RESERVES

Fair

value

reserve

£

At 1 January 2017

399,733

Movement during the year

(60,000

)

At 31 December 2017

339,733

12.	RELATED PARTY DISCLOSURES

As at the 31st December 2017, the directors owed the company £70,479 ( As at the 31st December

2016, the directors owed the company £65,948).

No interest is payable on this loan.

Included in creditors, amounts falling due within one year is a loan amounting to £48,000, (2016 :

£66,000) and included in creditors falling due after more than one year are loans amounting to

£267,530, (2016 : £262,575). Both of these loans are in the names of Mr K Newman and Mr R

Briggs-Price and the directors have chosen to treat the business loans as liabilities of the company

according to substance rather than legal form. Accordingly loans are shown as company liabilities.

Interest on the loans is charged to the company's profit and loss account.