J. K. L. Property Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 01292788 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 June 2014

for

J. K. L. PROPERTY LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

Directors:

J C Kottler

S E Kottler

Secretary:

S E Kottler

Registered office:

Mulberry House

Little Comberton

Pershore

Worcestershire

WR10 3EP

Registered number:

01292788 (England and Wales)

Accountants:

Haines Watts

Sterling House

19/23 High Street

Kidlington

Oxfordshire

OX5 2DH

Fixed assets

Investments

2

160,401

165,549

Current assets

Cash at bank and in hand

2,946

6,705

Creditors

Amounts falling due within one year

128,064

117,808

Net current liabilities

(125,118

)

(111,103

)

Total assets less current liabilities

35,283

54,446

Creditors

Amounts falling due after more than one year

3

40,002

40,002

Net (liabilities)/assets

(4,719

)

14,444

Capital and reserves

Called up share capital

4

100

100

Share premium

448,921

448,921

Capital redemption reserve

2,531

2,531

Profit and loss account

(456,271

)

(437,108

)

Shareholders' funds

(4,719

)

14,444

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 8 January 2015 and were signed on its behalf by:

J C Kottler - Director

1.	Accounting policies

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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.

Going concern

The directors have made an assessment of the company's ability to continue as a going concern and have

identified no material uncertainties that may cast a significant doubt on the ability of the company to continue as

a going concern for the foreseeable future.

2.	Fixed asset investments

Investments

other than

loans

£

Cost

At 1 July 2013

978,049

Impairments

(5,148

)

At 30 June 2014

972,901

Provisions

At 1 July 2013

and 30 June 2014

812,500

Net book value

At 30 June 2014

160,401

At 30 June 2013

165,549

The company's investments at the balance sheet date in the share capital of companies include the following:

Angus Chisholm Limited

Country of incorporation: Scotland

Nature of business: Property development

%

Class of shares:

holding

Ordinary

100.00

2014

2013

£

£

Aggregate capital and reserves

387,373

387,373

3.

Creditors

Creditors include the following debts falling due in more than five years:

2014

2013

£

£

Repayable otherwise than by instalments

10,002

10,002

Details of shares shown as liabilities are as follows:

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

10,000

Preferred ordinary

£1

10,000

10,000

2

B preferred ordinary

£1

2

2

10,002

10,002

Preferred ordinary shareholders are entitled to receive a dividend amounting to profits available for distribution

arising in the period, up to a maximum of £75,000. Any profits available for distribution which are not payable

to preferred ordinary shareholders are available for distribution to ordinary shareholders. In the event of a

winding up, the preferred ordinary shares shall have priority over the ordinary shareholders to any repayment of

capital and in addition, to repayment of reserves not exceeding £185,000 plus any dividends mentioned above.

B preferred ordinary shareholders are entitled to a fixed cumulative dividend on each such share at the following

rates on the amounts paid up including premium:

10% per annum in respect of the period from 1 July 2001 to 30 June 2004.

15% per annum in respect of the period after 1 July 2004.

In the event of a winding up, the B preferred ordinary shares shall have priority to any repayment of capital equal

to the amounts paid up including premium plus any dividends mentioned above.

4.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

65

Ordinary

£1

65

65

35

A ordinary

£1

35

35

100

100

The A ordinary shareholders are entitled to receive a dividend amounting to profits available for distribution

from the A assets, which comprise all of the shares in Angus Chisholm Limited. In the event of a winding up, the

A ordinary shareholders shall be entitled to the shares in Angus Chisholm Limited.

The ordinary shareholders are entitled to vote on an equal basis with preferred ordinary shareholders in the

following circumstances:

to alter the rights attaching to the preferred ordinary shares or ordinary shares.

to issue further shares in the company other than preferred ordinary shares or to create any new class of shares.

to alter any of the provisions of the memorandum or articles of association of the company.

5.

Control

The company is controlled by J C Kottler, a director and major shareholder.