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REGISTERED NUMBER: 12588427 (England and Wales)










KINGSMEADOW PROPERTY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023






KINGSMEADOW PROPERTY LIMITED (REGISTERED NUMBER: 12588427)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


KINGSMEADOW PROPERTY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: O D Codling





REGISTERED OFFICE: 45 High Street
Haverfordwest
Pembrokeshire
SA61 2BP





REGISTERED NUMBER: 12588427 (England and Wales)





ACCOUNTANTS: Bevan Buckland LLP
Chartered Accountants
45 High Street
Haverfordwest
Pembrokeshire
SA61 2BP

KINGSMEADOW PROPERTY LIMITED (REGISTERED NUMBER: 12588427)

STATEMENT OF FINANCIAL POSITION
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 247 291
Investment property 5 352,793 200,000
353,040 200,291

CURRENT ASSETS
Cash at bank 5,387 152,993

CREDITORS
Amounts falling due within one year 6 170,735 171,943
NET CURRENT LIABILITIES (165,348 ) (18,950 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

187,692

181,341

CREDITORS
Amounts falling due after more than one
year

7

150,000

150,000
NET ASSETS 37,692 31,341

CAPITAL AND RESERVES
Called up share capital 6 6
Fair value reserve 8 40,000 -
Retained earnings (2,314 ) 31,335
37,692 31,341

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

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

KINGSMEADOW PROPERTY LIMITED (REGISTERED NUMBER: 12588427)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 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 director and authorised for issue on 8 November 2023 and were signed by:





O D Codling - Director


KINGSMEADOW PROPERTY LIMITED (REGISTERED NUMBER: 12588427)

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

1. STATUTORY INFORMATION

Kingsmeadow Property 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 as modified by the revaluation of certain assets.

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

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 - 15% reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

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

KINGSMEADOW PROPERTY LIMITED (REGISTERED NUMBER: 12588427)

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

4. TANGIBLE FIXED ASSETS
Plant and
Machinery
£   
COST
At 1 June 2022
and 31 May 2023 350
DEPRECIATION
At 1 June 2022 59
Charge for year 44
At 31 May 2023 103
NET BOOK VALUE
At 31 May 2023 247
At 31 May 2022 291

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022 206,484
Additions 146,309
At 31 May 2023 352,793
DEPRECIATION
At 1 June 2022 6,484
Eliminated on disposal (6,484 )
At 31 May 2023 -
NET BOOK VALUE
At 31 May 2023 352,793
At 31 May 2022 200,000

The property has been valued at open market value by the directors reflecting comparable valuations in the local area. The valuations were carried out in 2022 and are equal to historic cost. Investment properties are not depreciated as they are held for their investment potential.

Fair value at 31 May 2023 is represented by:
£   
Valuation in 2021 166,484
Valuation in 2022 40,000
Valuation in 2023 146,309
352,793

KINGSMEADOW PROPERTY LIMITED (REGISTERED NUMBER: 12588427)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 294 100
Taxation and social security - 387
Other creditors 170,441 171,456
170,735 171,943

A charge is held dated 11 April 2022 with Molo Holdings Ltd.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 150,000 150,000

8. RESERVES
Fair
value
reserve
£   
Fair value adjustment 40,000

At 31 May 2023 40,000

9. RELATED PARTY DISCLOSURES

During the year the director and shareholders made funds available to the company, to assist with the provision of working capital. the loan was interest free, unsecured and repayable on demand. The amount outstanding at the balance sheet date was £169,741 (2022 £170,856).