Kooky Bishops Stortford Limited
Unaudited Financial Statements
For the year ended 31 December 2021
For Filing with Registrar
Company Registration No. 12678888 (England and Wales)
Kooky Bishops Stortford Limited
Company Information
Directors
P Crocker
H Crocker
Company number
12678888
Registered office
6th Floor
9 Appold Street
London
EC2A 2AP
Accountants
Moore Kingston Smith LLP
6th Floor
9 Appold Street
London
EC2A 2AP
Kooky Bishops Stortford Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
Kooky Bishops Stortford Limited
Balance Sheet
As at 31 December 2021
Page 1
2021
2020
Notes
£
£
£
£
Current assets
Debtors
3
2,909,764
2,166,169
Cash at bank and in hand
671,724
-
0
3,581,488
2,166,169
Creditors: amounts falling due within one year
4
(243,116)
(131,376)
Net current assets
3,338,372
2,034,793
Creditors: amounts falling due after more than one year
5
(3,414,842)
(2,060,873)
Net liabilities
(76,470)
(26,080)
Capital and reserves
Called up share capital
6
160
160
Profit and loss reserves
(76,630)
(26,240)
Total equity
(76,470)
(26,080)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 27 July 2022 and are signed on its behalf by:
P  Crocker
Director
Company Registration No. 12678888
Kooky Bishops Stortford Limited
Notes to the Financial Statements
For the year ended 31 December 2021
Page 2
1
Accounting policies
Company information

Kooky Bishops Stortford Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor, 9 Appold Street, London, EC2A 2AP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Reporting period

The company's prior accounting period is for the 28 weeks to 31 December 2020 from its incorporation on 18 June 2020.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments

Basic financial instruments are held at cost. The company has no other financial instruments or basic financial instruments measured at fair value.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Kooky Bishops Stortford Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2021
1
Accounting policies
(Continued)
Page 3
1.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2021
2020
Number
Number
Total
-
0
-
0
3
Debtors
2021
2020
Amounts falling due within one year:
£
£
Other debtors
160
160
2021
2020
Amounts falling due after more than one year:
£
£
Other debtors
2,909,604
2,166,009
Total debtors
2,909,764
2,166,169

Debtors over one year represents deposits, acquisition costs and finance costs in relation to property acquisitions which will complete in a subsequent accounting period.

4
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
6,904
-
0
Other creditors
236,212
131,376
243,116
131,376
Kooky Bishops Stortford Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2021
Page 4
5
Creditors: amounts falling due after more than one year
2021
2020
£
£
Other creditors
3,414,842
2,060,873
6
Called up share capital
2021
2020
2021
2020
Ordinary share capital
Number
Number
£
£
Issued and not fully paid
Ordinary shares of £1 each
160
160
160
160

 

7
Related party transactions

At the period end, the company owed £147,276 (2020: £38,901) to companies under common control which is included within other creditors due within one year. The balance is repayable on demand.

 

At the period end, the company owed £3,414,842 (2020: £2,060,873) to companies under common control which is included within other creditors due more than one year. Interest and arrangement fees totalling £83,888 (2020: £28,944) have been charged in the period. This has been included in debtors over one year which represents finance costs in relation to property acquisitions which will complete in a subsequent accounting period.

 

During the year the company had available facilities totalling a maximum of £12,500,000 (2020: £nil) from companies under common control. At the balance sheet date, £1,789,592 (2020: £nil) of this facility had been drawn and was outstanding which is included within the £3,414,842 balance mentioned in the above paragraph.

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