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Registered number: 11569970










Kiln Development Properties Ltd








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 March 2023





 
Kiln Development Properties Ltd
 
  
Chartered accountants' report to the director on the preparation of the unaudited statutory financial statements of Kiln Development Properties Ltd for the year ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kiln Development Properties Ltd for the year ended 31 March 2023 which comprise the Balance sheet from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of Kiln Development Properties Ltd in accordance with the terms of our engagement letter dated 9 September 2022Our work has been undertaken solely to prepare for your approval the financial statements of Kiln Development Properties Ltd  and state those matters that we have agreed to state to the director of Kiln Development Properties Ltd in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kiln Development Properties Ltd and its director for our work or for this report. 

It is your duty to ensure that Kiln Development Properties Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Kiln Development Properties Ltd. You consider that Kiln Development Properties Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Kiln Development Properties Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
 
Chartered Accountants
  
37 St Margaret's Street
Canterbury
Kent
CT1 2TU
25 August 2023
Page 1

 
Kiln Development Properties Ltd
Registered number: 11569970

Balance sheet
As at 31 March 2023

2023
2022
£
£

  

Current assets
  

Work in progress
  
912,529
848,864

Cash at bank and in hand
 4 
35,548
23,368

  
948,077
872,232

Creditors: amounts falling due within one year
 5 
(949,249)
(876,530)

Net current liabilities
  
 
 
(1,172)
 
 
(4,298)

Total assets less current liabilities
  
(1,172)
(4,298)

  

Net liabilities
  
(1,172)
(4,298)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(1,272)
(4,398)

  
(1,172)
(4,298)


The director considers 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 director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 on 25 August 2023.




Gary Graham Venner
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
Kiln Development Properties Ltd
 

 
Notes to the financial statements
For the year ended 31 March 2023

1.


General information

Kiln Development Properties Limited is a private company limited by shares which was incorporated in England and Wales.
The company's registered office is 3 Kiln Drive, Woodnesborough, Sandwich, Kent, CT13 0FF.
The financial statements have been presented in Sterling (£).

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through borrowings from the director.
After making appropriate enquiries, the director has a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future and accordingly they continue to adopt the going concern basis in preparing the company accounts.

Page 3

 
Kiln Development Properties Ltd
 

 
Notes to the financial statements
For the year ended 31 March 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue 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. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
Kiln Development Properties Ltd
 

 
Notes to the financial statements
For the year ended 31 March 2023

3.


Employees

The average monthly number of employees, including the director, during the year was as follows:


        2023
        2022
            No.
            No.







Employees
1
1


4.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
35,548
23,368

35,548
23,368



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
422
1,050

Other creditors
945,347
872,730

Accruals and deferred income
3,480
2,750

949,249
876,530



Page 5