Kelton Estates Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07856280 (England and Wales)

Financial Statements for the Year Ended 30 April 2018

for

Kelton Estates Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

R Carmichael

REGISTERED OFFICE:

PO Box 82

Appletree House

Liverpool

L19 0WD

REGISTERED NUMBER:

07856280 (England and Wales)

ACCOUNTANTS:

Cobham Murphy

116 Duke Street

Liverpool

Merseyside

L1 5JW

FIXED ASSETS

Tangible assets

3

1,801,002

841,002

CURRENT ASSETS

Debtors

4

-

386,955

CREDITORS

Amounts falling due within one year

5

3,176,751

1,937,242

NET CURRENT LIABILITIES

(3,176,751

)

(1,550,287

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,375,749

)

(709,285

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(1,375,849

)

(709,385

)

SHAREHOLDERS' FUNDS

(1,375,749

)

(709,285

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 January 2019 and were signed by:

R Carmichael - Director

1.	STATUTORY INFORMATION

Kelton Estates 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.

Despite the company's net current liability position at the year end the financial statements have been prepared

on a going concern basis as the company has the continued support of its parent and fellow subsidiary

undertakings as well as that of the funders.

Significant judgements and estimates

There are no judgements (apart from those involving estimates) that have had a significant effect on amounts

recognised in the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Land and buildings

-

No depreciation charged

Financial instruments

Other loans are initially measured at the present value of future payments, discounted at a market rate of interest,

and subsequently at amortised cost using the effective interest method.

Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are

measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective

evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit

and 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

Land and

buildings

£

COST

At 1 May 2017

841,002

Additions

960,000

At 30 April 2018

1,801,002

NET BOOK VALUE

At 30 April 2018

1,801,002

At 30 April 2017

841,002

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

30.4.17

£

£

Other debtors

-

386,955

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

30.4.17

£

£

Other creditors

3,176,751

1,937,242

6.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.18

30.4.17

£

£

Other loans

3,048,408

1,923,840

7.	RELATED PARTY DISCLOSURES

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R Carmichael.