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REGISTERED NUMBER: 12408039 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

KICK START PROPERTY SOLUTIONS LTD

KICK START PROPERTY SOLUTIONS LTD (REGISTERED NUMBER: 12408039)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 January 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


KICK START PROPERTY SOLUTIONS LTD

COMPANY INFORMATION
for the year ended 31 January 2023







DIRECTOR: G W Maltby





SECRETARY: G W Maltby





REGISTERED OFFICE: 19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD





REGISTERED NUMBER: 12408039 (England and Wales)





ACCOUNTANTS: Raffingers LLP
Chartered Certified Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

KICK START PROPERTY SOLUTIONS LTD (REGISTERED NUMBER: 12408039)

ABRIDGED BALANCE SHEET
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 781 850,937
Investment property 5 935,000 -
935,781 850,937

CURRENT ASSETS
Cash at bank 49,156 14,155

CREDITORS
Amounts falling due within one year 251,472 242,323
NET CURRENT LIABILITIES (202,316 ) (228,168 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

733,465

622,769

CREDITORS
Amounts falling due after more than one
year

6

(606,079

)

(606,079

)

PROVISIONS FOR LIABILITIES (20,121 ) -
NET ASSETS 107,265 16,690

CAPITAL AND RESERVES
Called up share capital 1 1
Fair value reserve 60,363 -
Retained earnings 46,901 16,689
107,265 16,690

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

KICK START PROPERTY SOLUTIONS LTD (REGISTERED NUMBER: 12408039)

ABRIDGED BALANCE SHEET - continued
31 January 2023


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 January 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 19 October 2023 and were signed by:





G W Maltby - Director


KICK START PROPERTY SOLUTIONS LTD (REGISTERED NUMBER: 12408039)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 January 2023

1. STATUTORY INFORMATION

Kick Start Property Solutions 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.

The accounts have been prepared on the going concern basis as the directors are of the opinion that the company will meet its liabilities as and when due, due to the continued support of the directors.

Turnover
Turnover comprises rental income, excluding Value Added Tax, which is recognised in the period which it is earned. Amounts invoiced in excess of the amounts earned during the period are recognised as deferred income in creditors.

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

Investment property
Investment properties are properties held to earn rentals and for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

During the year, freehold property with a value of £854,516. was reclassified as an investment property on the basis that it satisfied the definition and conditions of an investment property.

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 balance sheet date.

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

Short term creditors
Short term creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

KICK START PROPERTY SOLUTIONS LTD (REGISTERED NUMBER: 12408039)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2023

2. ACCOUNTING POLICIES - continued

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2022 851,354
Additions 4,620
Reclassification (854,516 )
At 31 January 2023 1,458
DEPRECIATION
At 1 February 2022 417
Charge for year 260
At 31 January 2023 677
NET BOOK VALUE
At 31 January 2023 781
At 31 January 2022 850,937

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Revaluations 80,484
Reclassification 854,516
At 31 January 2023 935,000
NET BOOK VALUE
At 31 January 2023 935,000

In the opinion of the director, investment property is stated at fair value at the balance sheet date.

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2023 2022
£    £   
Repayable otherwise than by instalments
Mortgages 606,079 606,079

KICK START PROPERTY SOLUTIONS LTD (REGISTERED NUMBER: 12408039)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2023

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 606,079 606,079

Bank loans comprises mortgages, which are secured by way of a fixed charge and negative pledge against the assets held by the company.

8. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed £236,134 (2022: £234,435) to the director.