Company Registration No. 10238767 (England and Wales)
Orden Kelly Ltd
Unaudited accounts
for the year ended 30 June 2019
Orden Kelly Ltd
Unaudited accounts
Contents
Orden Kelly Ltd
Company Information
for the year ended 30 June 2019
Directors
Margarita De La Orden
Duncan Kelly
Company Number
10238767 (England and Wales)
Registered Office
48 Tuffnells Way
Harpenden
Herts
AL5 3HG
England
Accountants
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
Orden Kelly Ltd
Accountants' report
Accountants' report to the board of directors of Orden Kelly Ltd on the preparation of the unaudited statutory accounts for the year ended 30 June 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Orden Kelly Ltd for the year ended
30 June 2019 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Orden Kelly Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Orden Kelly Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Orden Kelly Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Orden Kelly Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Orden Kelly Ltd. You consider that Orden Kelly Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Orden Kelly Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
17 March 2020
Orden Kelly Ltd
Statement of financial position
as at
30 June 2019
Tangible assets
50,884
72,437
Investment property
2,100,000
1,940,938
Cash at bank and in hand
41,454
885
Creditors: amounts falling due within one year
(1,354,110)
(1,161,465)
Net current liabilities
(1,183,627)
(1,131,431)
Total assets less current liabilities
967,257
881,944
Creditors: amounts falling due after more than one year
(1,211,688)
(1,245,917)
Net liabilities
(244,431)
(363,973)
Called up share capital
1,000
1,000
Profit and loss account
(245,431)
(364,973)
Shareholders' funds
(244,431)
(363,973)
For the year ending 30 June 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 27 March 2020.
Margarita De La Orden
Director
Company Registration No. 10238767
Orden Kelly Ltd
Notes to the Accounts
for the year ended 30 June 2019
Orden Kelly Ltd is a private company, limited by shares, registered in England and Wales, registration number 10238767. The registered office is 48 Tuffnells Way, Harpenden, Herts, AL5 3HG, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
between 25% and 33% on cost
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Orden Kelly Ltd
Notes to the Accounts
for the year ended 30 June 2019
4
Tangible fixed assets
Fixtures & fittings
Cost or valuation
At cost
Charge for the year
21,553
5
Investment property
2019
Fair value at 1 July 2018
1,940,938
Net gain from fair value adjustments
87,408
At 30 June 2019
2,100,000
The Directors confirm that the investment property is carried at fair value at the year end.
Deferred tax asset
126,989
20,520
Accrued income and prepayments
2,040
8,629
7
Creditors: amounts falling due within one year
2019
2018
Other creditors
20,000
20,000
Loans from directors
1,332,670
1,140,445
8
Creditors: amounts falling due after more than one year
2019
2018
Bank loans
1,211,688
1,245,917
The bank loan of £1,211,688 (2018 - £1,245,917) is secured by fixed and floating charges over the company's assets.
Orden Kelly Ltd
Notes to the Accounts
for the year ended 30 June 2019
9
Transactions with related parties
At the year end, the company owed the Directors £1,332,670 (2018 - £1,140,445). This loan is interest-free and repayable on demand.
10
Average number of employees
During the year the average number of employees was 0 (2018: 0).