KBA Property Limited 03523178 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is property management and maintenance Digita Accounts Production Advanced 6.30.9574.0 true true 03523178 2022-04-01 2023-03-31 03523178 2023-03-31 03523178 bus:CompanySecretaryDirector1 1 2023-03-31 03523178 bus:Director1 1 2023-03-31 03523178 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-03-31 03523178 core:CurrentFinancialInstruments 2023-03-31 03523178 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 03523178 bus:SmallEntities 2022-04-01 2023-03-31 03523178 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 03523178 bus:AbridgedAccounts 2022-04-01 2023-03-31 03523178 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 03523178 bus:RegisteredOffice 2022-04-01 2023-03-31 03523178 bus:CompanySecretaryDirector1 2022-04-01 2023-03-31 03523178 bus:CompanySecretaryDirector1 1 2022-04-01 2023-03-31 03523178 bus:Director1 2022-04-01 2023-03-31 03523178 bus:Director1 1 2022-04-01 2023-03-31 03523178 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2022-04-01 2023-03-31 03523178 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 03523178 core:Buildings 2022-04-01 2023-03-31 03523178 countries:EnglandWales 2022-04-01 2023-03-31 03523178 2022-03-31 03523178 bus:CompanySecretaryDirector1 1 2022-03-31 03523178 bus:Director1 1 2022-03-31 03523178 2021-04-01 2022-03-31 03523178 2022-03-31 03523178 bus:CompanySecretaryDirector1 1 2022-03-31 03523178 bus:Director1 1 2022-03-31 03523178 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2022-03-31 03523178 core:CurrentFinancialInstruments 2022-03-31 03523178 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 03523178 bus:CompanySecretaryDirector1 1 2021-04-01 2022-03-31 03523178 bus:Director1 1 2021-04-01 2022-03-31 03523178 core:RevaluationReserve 2021-04-01 2022-03-31 03523178 core:RevaluationReserve core:LandBuildings 2021-04-01 2022-03-31 03523178 core:LandBuildings 2021-04-01 2022-03-31 03523178 bus:CompanySecretaryDirector1 1 2021-03-31 03523178 bus:Director1 1 2021-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 03523178

KBA Property Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 March 2023

 

KBA Property Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

KBA Property Limited

Company Information

Directors

Mr Philip Frank Board

Mr Michael Kirkham

Company secretary

Mr Michael Kirkham

Registered office

Cosmopolitan House
Old Fore Street
Sidmouth
Devon
EX10 8LS

Accountants

Easterbrook Eaton Limited
Chartered Accountants
Cosmopolitan House
Old Fore Street
Sidmouth
Devon
EX10 8LS

 

KBA Property Limited

(Registration number: 03523178)
Abridged Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

350,000

350,000

Current assets

 

Debtors

5

363

344

Cash at bank and in hand

 

21,417

35,193

 

21,780

35,537

Creditors: Amounts falling due within one year

(21,279)

(36,368)

Net current assets/(liabilities)

 

501

(831)

Total assets less current liabilities

 

350,501

349,169

Provisions for liabilities

(9,791)

(9,791)

Accruals and deferred income

 

(1,090)

(1,000)

Net assets

 

339,620

338,378

Capital and reserves

 

Called up share capital

6

100

100

Revaluation reserve

210,527

210,527

Retained earnings

128,993

127,751

Shareholders' funds

 

339,620

338,378

For the financial year ending 31 March 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 year 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 October 2023 and signed on its behalf by:
 

 

KBA Property Limited

(Registration number: 03523178)
Abridged Balance Sheet as at 31 March 2023

.........................................
Mr Philip Frank Board
Director

.........................................
Mr Michael Kirkham
Company secretary and director

 

KBA Property Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

1

General information

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

The address of its registered office is:
Cosmopolitan House
Old Fore Street
Sidmouth
Devon
EX10 8LS

The principal place of business is:
41 Higher Kings Avenue
Exeter
Devon
EX4 6JP

These financial statements were authorised for issue by the Board on 11 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

 

KBA Property Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

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 in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold Property

2% Straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. 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, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

KBA Property Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

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 year, was 2 (2022 - 2).

4

Tangible assets

Cost or valuation

Depreciation

Carrying amount

At 31 March 2023

Included within the net book value of land and buildings above is £Nil (2022 - £Nil) in respect of freehold land and buildings.
 

Investment properties

2023
£

At 1 April

350,000

There has been no valuation of investment property by an independent valuer.

5

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

         

7

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

 

KBA Property Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

220,318

220,318

Surplus/deficit on revaluation of other assets

(9,791)

(9,791)

210,527

210,527

8

Related party transactions

 

KBA Property Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

Transactions with directors

2023

At 1 April 2022
£

At 31 March 2023
£

Mr Michael Kirkham

462

462

     
   

Mr Philip Frank Board

462

462

     
   

 

2022

At 1 April 2021
£

At 31 March 2022
£

Mr Michael Kirkham

462

462

     
   

Mr Philip Frank Board

462

462