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REGISTERED NUMBER: 07974157 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

KENDRICK PROPERTY SERVICES LIMITED

KENDRICK PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 07974157)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KENDRICK PROPERTY SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: P Kendrick
Mrs S Kendrick





REGISTERED OFFICE: Carlton House
28/29 Carlton Terrace
Portslade
Brighton
East Sussex
BN41 1UR





REGISTERED NUMBER: 07974157 (England and Wales)





ACCOUNTANTS: Haines & Co
Chartered Accountants
Carlton House
28-29 Carlton Terrace
Portslade
Brighton
BN41 1UR

KENDRICK PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 07974157)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 52,364 58,183
Tangible assets 6 5,055 5,407
Investment property 7 316,519 -
373,938 63,590

CURRENT ASSETS
Debtors 8 1,501 6,260
Investments 9 41,502 41,502
Cash at bank and in hand 20,878 90,638
63,881 138,400
CREDITORS
Amounts falling due within one year 10 77,092 48,977
NET CURRENT (LIABILITIES)/ASSETS (13,211 ) 89,423
TOTAL ASSETS LESS CURRENT
LIABILITIES

360,727

153,013

CREDITORS
Amounts falling due after more than one
year

11

279,416

76,303
NET ASSETS 81,311 76,710

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 81,211 76,610
SHAREHOLDERS' FUNDS 81,311 76,710

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

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

KENDRICK PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 07974157)

BALANCE SHEET - continued
31 MARCH 2023


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 31 October 2023 and were signed on its behalf by:




P Kendrick - Director



Mrs S Kendrick - Director


KENDRICK PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 07974157)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Kendrick Property Services 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Material uncertainties
The accounts have been prepared on the going concern basis.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc - 33% on cost and 25% on reducing balance

Investment property
The investment property which was acquired in this year is shown at cost as in the opinion of the Directors there has been no change in value since equisition.
.

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.


KENDRICK PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 07974157)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

3. ACCOUNTING POLICIES - continued
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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 116,373
AMORTISATION
At 1 April 2022 58,190
Charge for year 5,819
At 31 March 2023 64,009
NET BOOK VALUE
At 31 March 2023 52,364
At 31 March 2022 58,183

KENDRICK PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 07974157)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

6. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2022 41,609
Additions 2,219
At 31 March 2023 43,828
DEPRECIATION
At 1 April 2022 36,202
Charge for year 2,571
At 31 March 2023 38,773
NET BOOK VALUE
At 31 March 2023 5,055
At 31 March 2022 5,407

7. INVESTMENT PROPERTY
Total
£   
COST
Additions 316,519
At 31 March 2023 316,519
NET BOOK VALUE
At 31 March 2023 316,519

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 947 947
Prepayments 554 5,313
1,501 6,260

9. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Unlisted investments 41,502 41,502

Crypto investments are stated at cost. These investments are highly volatile with these market value rising and falling daily. In the directors opinion to state these investments at their fair value at 31 March 2023 would result in the results for the year not showing a true and fair view and as such these investments are stated at cost.

KENDRICK PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 07974157)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 25,030 16,625
Tax 23,990 17,416
Social security and other taxes 1,263 2,479
VAT 12,156 3,676
Monies due to landlords 9,802 2,912
Directors' current accounts 381 108
Accrued expenses 4,470 5,761
77,092 48,977

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 17,000 22,059
Bank loans - 2-5 years 36,473 53,833
Bank loans more 5 yrs non-inst 225,625 -
Other creditors 318 411
279,416 76,303

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 225,625 -

12. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loan 225,625 -

The bank loan falling due after 5 years is secured on the Investment property to
which it relates.