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REGISTERED NUMBER: 11119187 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2022

for

KAF Developments Ltd

KAF Developments Ltd (Registered number: 11119187)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


KAF Developments Ltd

Company Information
for the Year Ended 31 December 2022







DIRECTORS: Mr S Flynn
Mrs S N Flynn
Mrs S J Flynn
Mrs K M Flynn





REGISTERED OFFICE: 15 Queen Square
Leeds
LS2 8AJ





REGISTERED NUMBER: 11119187 (England and Wales)





ACCOUNTANTS: Johal & Company
Chartered Certified Accountants
& Registered Auditors
Spectrum House
2B Suttons Lane
Hornchurch
Essex
RM12 6RJ

KAF Developments Ltd (Registered number: 11119187)

Statement of Financial Position
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 20,045 26,727
Investment property 5 674,506 608,719
694,551 635,446

CURRENT ASSETS
Stocks 332,505 -
Debtors 6 12,000 11,900
Cash at bank - 94,828
344,505 106,728
CREDITORS
Amounts falling due within one year 7 64,583 162,520
NET CURRENT ASSETS/(LIABILITIES) 279,922 (55,792 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

974,473

579,654

CREDITORS
Amounts falling due after more than one
year

8

974,373

575,606
NET ASSETS 100 4,048

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 9 170,887 170,887
Retained earnings (170,887 ) (166,939 )
SHAREHOLDERS' FUNDS 100 4,048

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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.

KAF Developments Ltd (Registered number: 11119187)

Statement of Financial Position - continued
31 December 2022


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 October 2023 and were signed on its behalf by:




Mrs S N Flynn - Director Mr S Flynn - Director




Mrs S J Flynn - Director Mrs K M Flynn - Director


KAF Developments Ltd (Registered number: 11119187)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

KAF Developments Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Current or deferred taxation assets and liabilities are not discounted.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

KAF Developments Ltd (Registered number: 11119187)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

2. ACCOUNTING POLICIES - continued

Going concern
These accounts have been prepared on a going concern basis. There have been reduced sales during the year as the projects are yet to be completed. In the meantime, the company is currently supported by the directors. The directors have agreed to provide their support for a period no less than twelve months, therefore, the directors consider it appropriate to prepare the financial statements on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2022
and 31 December 2022 1,429 60,619 62,048
DEPRECIATION
At 1 January 2022 670 34,651 35,321
Charge for year 190 6,492 6,682
At 31 December 2022 860 41,143 42,003
NET BOOK VALUE
At 31 December 2022 569 19,476 20,045
At 31 December 2021 759 25,968 26,727

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2022 608,719
Revaluations 43,592
Property Improvements 22,195
At 31 December 2022 674,506
NET BOOK VALUE
At 31 December 2022 674,506
At 31 December 2021 608,719

Fair value at 31 December 2022 is represented by:
£   
Valuation in 2022 674,506

KAF Developments Ltd (Registered number: 11119187)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors 12,000 -
Other debtors - 11,900
12,000 11,900

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Bank loans and overdrafts 134 -
Hire purchase contracts 7,743 5,828
Trade creditors 150 360
Other creditors 56,556 156,332
64,583 162,520

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.22 31.12.21
£    £   
Bank loans 814,069 540,841
Hire purchase contracts 34,765 34,765
Other creditors 125,539 -
974,373 575,606

9. RESERVES
Fair
value
reserve
£   
At 1 January 2022
and 31 December 2022 170,887