REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2021 |
for |
Kimber Properties Limited |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2021 |
for |
Kimber Properties Limited |
Kimber Properties Limited (Registered number: 03818517) |
Contents of the Financial Statements |
for the Year Ended 31 December 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Kimber Properties Limited |
Company Information |
for the Year Ended 31 December 2021 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
The Mills |
Canal Street |
Derby |
DE1 2RJ |
Kimber Properties Limited (Registered number: 03818517) |
Balance Sheet |
31 December 2021 |
2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 10 |
Retained earnings | 10 |
SHAREHOLDERS' FUNDS |
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. |
Kimber Properties Limited (Registered number: 03818517) |
Balance Sheet - continued |
31 December 2021 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Kimber Properties Limited (Registered number: 03818517) |
Notes to the Financial Statements |
for the Year Ended 31 December 2021 |
1. | STATUTORY INFORMATION |
Kimber Properties Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the amounts (excluding value added tax) derived from the provision of rental properties to customers during the year. Rental income for the use of premises are accounted for in the year in which the services are provided. |
Investment property |
Investment property is not depreciated but is revalued annually at its fair value in accordance with the Financial Reporting Standard 102 (Section 1A). Any aggregate surplus or deficit arising from changes in fair value are recognised in the profit and loss account and transferred to a fair value reserve. |
Deferred tax |
A provision is made at current rates for taxation deferred in respect of all timing differences, including provisions made for potential tax arising on assets which have been revalued. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2021 |
Revaluations | 64,000 |
At 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
Fair value at 31 December 2021 is represented by: |
£ |
Valuation in 2021 | 1,030,000 |
Kimber Properties Limited (Registered number: 03818517) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
4. | INVESTMENT PROPERTY - continued |
If investment property had not been revalued it would have been included at the following historical cost: |
2021 | 2020 |
£ | £ |
Cost | 424,709 | 424,709 |
Aggregate depreciation | (159,455 | ) | (151,061 | ) |
Investment property was valued on a fair value basis on 31 December 2021 by the director . |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Amounts owed by related undertakings | 365,105 | 401,117 |
Director's loan account | - | 44,395 |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
Other loans |
Trade creditors |
Social security and other taxes |
Other creditors |
Amounts owed to group undertakings | 60,400 | 60,400 |
Director's loan account | 9,507 | - |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans |
Other loans |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2021 | 2020 |
£ | £ |
Bank loans |
Bank loans are secured on investment property. |
Kimber Properties Limited (Registered number: 03818517) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
9. | PROVISIONS FOR LIABILITIES |
2021 | 2020 |
£ | £ |
Deferred tax | 73,000 | 60,000 |
Deferred |
tax |
£ |
Balance at 1 January 2021 |
Provided during year |
Balance at 31 December 2021 |
The deferred tax provision relates to potential tax arising on investment property which has been revalued. |
10. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
At 1 January 2021 | 664,623 |
Profit for the year |
Dividends | ( |
) | ( |
) |
Revaluation adjustment | (64,000 | ) | 64,000 | - |
Transfer deferred tax | 13,000 | (13,000 | ) | - |
At 31 December 2021 | 650,349 |