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Registration number: 13858982

Kinwood Holdings Limited

Annual Report and Unaudited Financial Statements

for the Period from 19 January 2022 to 28 February 2023

Pages for filing with Registrar

 

Kinwood Holdings Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 6

 

Kinwood Holdings Limited

Company Information

Directors

A J S Hoare

T W S Webb

Registered office

43 Palewell Park
London
SW14 8JQ

Registered number

13858982

Accountants

Corrigan Accountants Limited
1st Floor
25 King Street
Bristol
BS1 4PB

 

Kinwood Holdings Limited

(Registration number: 13858982)
Balance Sheet as at 28 February 2023

Note

2023
£

Current assets

 

Debtors

934

Cash at bank and in hand

 

158,897

 

159,831

Creditors: Amounts falling due within one year

5

(157,588)

Net assets

 

2,243

Capital and reserves

 

Called up share capital

1,000

Profit and loss account

1,243

Total equity

 

2,243

 

Kinwood Holdings Limited

(Registration number: 13858982)
Balance Sheet as at 28 February 2023

For the financial period ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised for issue by the Board on 27 September 2023 and signed on its behalf by:
 

A J S Hoare
Director

T W S Webb
Director

 

Kinwood Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 19 January 2022 to 28 February 2023

1

Statutory information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
43 Palewell Park
London
SW14 8JQ
United Kingdom

2

Accounting policies

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

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

Going concern

The directors intend to strike off the company and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a break up basis.

Revenue recognition

All income is recognised once the company has entitlement to the income, it is probable that the Income will be received and the amount of the income receivable can be measured reliably. Income comprises rental and service charge income from tenants receivable in the year.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

 

Kinwood Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 19 January 2022 to 28 February 2023

Investment property

Investment property is carried at fair value to be 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 profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the
cash or other resources received or receivable, net of the direct costs of issuing the equity
instruments.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

4

Investment properties

2023
£

Additions

2,373,140

Disposals

(2,373,140)

At 28 February

-

5

Creditors

2023
£

Amounts falling due within one year

Corporation tax

157,588

 

Kinwood Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 19 January 2022 to 28 February 2023

6

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary shares of £1 each

1,000

1,000

     

7

Related party transactions


 

During the year, the company paid management fees and a profit share to Kinver Capital Limited, a company controlled by a director. The total amounts paid for the services provided by Kinver Capital Limited totalled £281,366.

During the year, the company paid management fees and a profit share to Driftwood Capital Limited, a company controlled by a director. The total amounts paid for the services provided by Driftwood Capital Limited totalled £281,366.

 

Loans from related parties

2023

Other related parties
£

Total
£

Advanced

2,460,706

2,460,706

Repaid

(2,460,706)

(2,460,706)

At end of period

-

-

Terms of loans from related parties

The company received a loans from KAN Ventures Limited, WWCW Limited and Driftwood Capital Limited for the purchase of an investment property. The loans were unsecured, interest free and there was no fixed term for the repayment. Repayment was made when distributable profits became available and the property was sold.