Caseware UK (AP4) 2021.0.152 2021.0.152 2022-03-312022-03-31false22021-04-012truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01736105 2021-04-01 2022-03-31 01736105 2020-04-01 2021-03-31 01736105 2022-03-31 01736105 2021-03-31 01736105 c:Director1 2021-04-01 2022-03-31 01736105 d:FreeholdInvestmentProperty 2022-03-31 01736105 d:FreeholdInvestmentProperty 2021-03-31 01736105 d:CurrentFinancialInstruments 2022-03-31 01736105 d:CurrentFinancialInstruments 2021-03-31 01736105 d:ShareCapital 2022-03-31 01736105 d:ShareCapital 2021-03-31 01736105 d:RevaluationReserve 2022-03-31 01736105 d:RevaluationReserve 2021-03-31 01736105 d:InvestmentPropertiesRevaluationReserve 2021-04-01 2022-03-31 01736105 d:RetainedEarningsAccumulatedLosses 2022-03-31 01736105 d:RetainedEarningsAccumulatedLosses 2021-03-31 01736105 c:OrdinaryShareClass1 2021-04-01 2022-03-31 01736105 c:OrdinaryShareClass1 2022-03-31 01736105 c:OrdinaryShareClass1 2021-03-31 01736105 c:FRS102 2021-04-01 2022-03-31 01736105 c:AuditExempt-NoAccountantsReport 2021-04-01 2022-03-31 01736105 c:FullAccounts 2021-04-01 2022-03-31 01736105 c:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 01736105 d:OtherDeferredTax 2022-03-31 01736105 d:OtherDeferredTax 2021-03-31 01736105 d:ShareCapitalOtherShareTypes 2022-03-31 01736105 d:ShareCapitalOtherShareTypes 2021-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 01736105














KANE PLANT AND VEHICLE SERVICES LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

 
KANE PLANT AND VEHICLE SERVICES LIMITED
 

CONTENTS



Page
Balance sheet
 
1
Notes to the financial statements
 
2 - 5


 
KANE PLANT AND VEHICLE SERVICES LIMITED
REGISTERED NUMBER:01736105

BALANCE SHEET
AS AT 31 MARCH 2022

2022
2021
Note
£
£

  

Fixed assets
  

Investment property
 4 
2,600,000
2,600,000

Current assets
  

Cash at bank and in hand
 5 
40
55

Creditors: amounts falling due within one year
 6 
(330,897)
(402,050)

Net current liabilities
  
 
 
(330,857)
 
 
(401,995)

Total assets less current liabilities
  
2,269,143
2,198,005

Deferred taxation
 7 
(150,518)
(102,352)

Net assets
  
2,118,625
2,095,653


Capital and reserves
  

Called up share capital 
 8 
100
100

Investment property revaluation reserve
 9 
499,720
499,720

Profit and loss account
 9 
1,618,805
1,595,833

  
2,118,625
2,095,653


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



A P Kane
Director

Date: 2 August 2022

1

 
KANE PLANT AND VEHICLE SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1.


General information

Kane Plant and Vehicle Services Limited is a private company, limited by shares, registered in England and Wales, registration number 01736105.
The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE and the trading address is Construction House, Porters Wood, Valley Road Industrial Estate, St. Albans, Herts, AL3 6NW.
The principal activity of the company continued to be that of commercial letting of property.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The company's functional and presentational currency is pound sterling.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover from commercial property letting is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the statement of comprehensive income.

 
2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.5

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities. 

 
2.6

Creditors

Short term creditors are measured at the transaction price.

2

 
KANE PLANT AND VEHICLE SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2021 - 2).

3

 
KANE PLANT AND VEHICLE SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2021
2,600,000



At 31 March 2022
2,600,000

The 2022 valuations were made by the director, on an open market value for existing use basis.

2022
2021
£
£

Revaluation reserves


At 1 April 2021
499,720
499,720

At 31 March 2022
499,720
499,720



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2022
2021
£
£


Historic cost
1,997,928
1,997,928


5.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
40
55



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Amounts owed to related undertakings
312,530
366,830

Corporation tax
16,687
33,524

Accruals
1,680
1,696

330,897
402,050


4

 
KANE PLANT AND VEHICLE SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

7.


Deferred taxation




2022


£






At beginning of year
(102,352)


Charged to profit or loss
(48,166)



At end of year
(150,518)

The provision for deferred taxation is made up as follows:

2022
2021
£
£


Deferred tax on investment property reserve
150,518
102,352


8.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



100 (2021 - 100) Ordinary shares of £1 each
100
100

There is a single class of ordinary share. There are no restrictions on the distribution of dividends and the repayment of capital.



9.


Reserves

Investment property revaluation reserve

The reserve relates to the gains and losses from the revaluation of investment properties.  These are undistributable reserves as they are unrealised.


10.


Related party transactions

At the year end included within creditors due within one year is an amount due to company under common control £312,530 (2021 - £366,830). The loan is interest free and payable on demand. 

 
5