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REGISTERED NUMBER: 03589348 (England and Wales)















Financial Statements for the Year Ended 30 June 2023

for

Kent Properties Limited

Kent Properties Limited (Registered number: 03589348)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Kent Properties Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: Mrs N F White
M S White





SECRETARY: Mrs N F White





REGISTERED OFFICE: Mindora Heights
Mill Lane Harbledown
Canterbury
Kent
CT2 8NG





REGISTERED NUMBER: 03589348 (England and Wales)





ACCOUNTANTS: A.K & Co (Accountancy Services) Ltd
19 Victoria Terrace
Hove
East Sussex
BN3 2WB

Kent Properties Limited (Registered number: 03589348)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 426,902 427,706

CURRENT ASSETS
Debtors 5 1,928,351 1,898,496
Cash at bank 10,329 442,240
1,938,680 2,340,736
CREDITORS
Amounts falling due within one year 6 1,689,960 2,103,443
NET CURRENT ASSETS 248,720 237,293
TOTAL ASSETS LESS CURRENT
LIABILITIES

675,622

664,999

PROVISIONS FOR LIABILITIES 3,868 3,868
NET ASSETS 671,754 661,131

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 671,654 661,031
SHAREHOLDERS' FUNDS 671,754 661,131

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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.

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 13 November 2023 and were signed on its behalf by:



M S White - Director


Kent Properties Limited (Registered number: 03589348)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Kent Properties Limited 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.

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 - 50% on cost and 20% on cost
Fixtures and fittings - 33% on cost and 10% on cost
Motor vehicles - 50% on cost

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Kent Properties Limited (Registered number: 03589348)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2022
and 30 June 2023 426,739 104,213 530,952
DEPRECIATION
At 1 July 2022 - 103,246 103,246
Charge for year - 804 804
At 30 June 2023 - 104,050 104,050
NET BOOK VALUE
At 30 June 2023 426,739 163 426,902
At 30 June 2022 426,739 967 427,706

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 347 1,828
Amounts owed by group undertakings 3,015 98,757
Standard Quay Tearoom - (7,866 )
MSW loan account (159,179 ) (352,015 )
Ordnance Wharf 302,674 293,924
Quayside Ltd 732,636 694,597
The Duke William Ltd - 17,574
Abbey Lane, Faversham 3,868 3,868
Creekside Developments - Loan 1,044,360 1,093,672
The Red Lion - (104,341 )
Abbey Park 630 158,123
Prepayments - 375
1,928,351 1,898,496

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 4,717 62,304
Amounts owed to group undertakings - 114,655
Social security and other taxes - 4,871
VAT 1,165 4,515
Other creditors 542,829 445,024
Quayside Impairment 286,992 286,992
Rent deposits 27,302 27,302
Abbey Road Loan 610,278 610,278
Papa Bianco (716 ) 49,853
Directors' current accounts 161,929 369,710
Accruals and deferred income 55,464 127,939
1,689,960 2,103,443

Kent Properties Limited (Registered number: 03589348)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

8. RELATED PARTY DISCLOSURES

The company has entered into transactions with Abbey Road Developments (Kent) Limited, Ordnance Wharf Limited, Quayside Properties (Faversham) Limited, The Duke William Limited and Abbey Lane (Faversham) Management Company limited which are companies owned by the directors. The company provides loan finance, management and other services to these companies. The balances outstanding at the year-end were:


Quayside Properties (Faversham) Limited - £644,776 (2021 £678,306)
Provision for Impairment - £-289,207 (2021 £-289,207)


Abbey Road Developments (Kent) Limited was owed - £-610,278 (2021 £-610,278)
Ordnance Wharf Limited - £293,924 (2021 £293,924)
The Duke William Ltd - £17,573 (2021 £-17,526)
Abbey Lane (Faversham) Management Company Limited - Nil (2021 £3,868)
Abbey Park (Faversham) Limited - £158,123 (2021 £158,123)
Creekside Developments (Faversham) Ltd - £1,093,474 (2021 £1,440,649)
The Red Lion Partnership was owed £-103,590 (2021 -£105,004)
Nova (Kent) Ltd was owed £-98,757 (2021: £47,473)
Creekside 2020 Limited was owed £-45,000 (2021: -£45,000)
Standard Quay Tearoom Ltd was owed £7,866 (2020: £13,645)
MSW Leasing Ltd was owed £-351,784
Faversham Furniture Barn was owed £-69,655


The balances are not repayable until at least 12 months from the date of approval of these accounts and no interest is payable on them.

9. ULTIMATE CONTROLLING PARTY

The controlling party is M S White.