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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31ST MARCH 2019 |
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KENSINGTON & OLYMPIA INVESTMENTS LTD |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31ST MARCH 2019 |
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FOR |
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KENSINGTON & OLYMPIA INVESTMENTS LTD |
KENSINGTON & OLYMPIA INVESTMENTS LTD (REGISTERED NUMBER: 05201193) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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KENSINGTON & OLYMPIA INVESTMENTS LTD |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST MARCH 2019 |
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DIRECTORS: |
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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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24 Park Road South |
Havant |
Hampshire |
PO9 1HB |
KENSINGTON & OLYMPIA INVESTMENTS LTD (REGISTERED NUMBER: 05201193) |
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BALANCE SHEET |
31ST MARCH 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Revaluation reserve | 7 |
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Retained earnings |
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The directors acknowledge their responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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KENSINGTON & OLYMPIA INVESTMENTS LTD (REGISTERED NUMBER: 05201193) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2019 |
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1. | STATUTORY INFORMATION |
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Kensington & Olympia Investments Ltd is a
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Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements are presented in Sterling (£) and rounded to the nearest pound (£). |
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The financial statements relate to Kensington & Olympia Investments Ltd as an individual entity. |
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Significant judgements and estimates |
The preparation of financial statements requires the use of judgements, estimates and assumptions that affect |
the reported amounts of assets and liabilities at the date of the financial statements, and revenues and expenses |
during the reporting period. These judgements, estimates and assumptions are based on management's |
historical experience, knowledge and other factors including expectations of future events or actions that are |
believed to be reasonable under the circumstances. Actual results may differ from those amounts estimated. |
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The following are estimates and assumptions that have a significant risk of causing a material adjustment to the |
carrying amounts of assets and liabilities within the next financial year: |
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The revaluation of the investment properties was undertaken by the directors based on subsequent events.. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Property sales are recognised on completion. |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
fair value is recognised in profit or loss. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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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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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2018 - NIL). |
KENSINGTON & OLYMPIA INVESTMENTS LTD (REGISTERED NUMBER: 05201193) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2019 |
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4. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
Additions |
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Revaluations | 364,081 |
At 31st March 2019 |
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NET BOOK VALUE |
At 31st March 2019 |
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Fair value at 31st March 2019 is represented by: |
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£ |
Valuation in 2019 | 364,081 |
Cost | 1,219,054 |
1,583,135 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | RESERVES |
Revaluation |
reserve |
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Transfer between reserves | 294,906 |
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At 31st March 2019 |
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8. | COMPARATIVE YEAR |
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During the comparative period the company was dormant. |