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Abbreviated Unaudited Accounts |
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for the Year Ended 30 June 2016 |
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for |
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Kirklee Property Company (2) Limited |
REGISTERED NUMBER:
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Abbreviated Unaudited Accounts |
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for the Year Ended 30 June 2016 |
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for |
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Kirklee Property Company (2) Limited |
Kirklee Property Company (2) Limited (Registered number: SC307960) |
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Contents of the Abbreviated Accounts |
for the Year Ended 30 June 2016 |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 4 |
Kirklee Property Company (2) Limited |
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Company Information |
for the Year Ended 30 June 2016 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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BANKERS: |
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Kirklee Property Company (2) Limited (Registered number: SC307960) |
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Abbreviated Balance Sheet |
30 June 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 2 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 3 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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( |
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CAPITAL AND RESERVES |
Called up share capital | 4 |
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Revaluation reserve |
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Profit and loss account | ( |
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SHAREHOLDERS' FUNDS | ( |
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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. |
Kirklee Property Company (2) Limited (Registered number: SC307960) |
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Abbreviated Balance Sheet - continued |
30 June 2016 |
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The financial statements were approved by the director on
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Kirklee Property Company (2) Limited (Registered number: SC307960) |
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Notes to the Abbreviated Accounts |
for the Year Ended 30 June 2016 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention as modified by the |
revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller |
Entities (effective January 2015). |
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At the period end the company had net liabilities of £869,921. Since July 2013, the company's bank |
facilities have been provided on a rolling basis. |
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The director believes that with the continued support of the bank and associated companies, the |
company will be able to continue in operational existence for the foreseeable future and assuming |
that the current tenants continue to pay their rent in accordance with the terms of their lease. Should |
these factors change then additional support will be required. The director believes that these |
circumstances will not arise in the next twelve months. As such, it is therefore appropriate to prepare |
these accounts on a going concern basis. |
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Turnover |
Turnover represents net invoiced rental income and sales of services, excluding value added tax. |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from |
changes in market value is transferred to a revaluation reserve. |
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Stocks |
Stock consists of property held for development and is valued at the lower of cost and net realisable |
value. Cost represents the purchase price of property and direct costs of development work where |
appropriate. Net realisable value is based on estimated selling price less additional costs to |
completion and disposal. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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Deferred tax is provided at the average rates that are expected to apply when the timing differences |
reverse, based on current tax rates and laws. Deferred tax is not provided on timing differences |
arising from the revaluation of fixed assets where there is no commitment to sell the asset. Deferred |
tax assets and liabilities are not discounted. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis |
over the period of the lease. |
Kirklee Property Company (2) Limited (Registered number: SC307960) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 30 June 2016 |
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2. | INVESTMENT PROPERTY |
Total |
£ |
COST OR VALUATION |
At 1 July 2015 |
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Additions |
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Disposals | ( |
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At 30 June 2016 |
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NET BOOK VALUE |
At 30 June 2016 |
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At 30 June 2015 |
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3. | CREDITORS |
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Creditors include an amount of £
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4. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary | £1 |
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5. | ULTIMATE CONTROLLING PARTY |
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