Registered Number:04165779 |
For the year ended 28 February 2023
England and Wales
Unaudited Financial Statements
For the year ended 28 February 2023
Kipcress Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
Kipcress Limited
Statement of Financial Position
2022
2023
Property, plant and equipment |
4,730
5,230
2
750,000
766,600
3
771,330
755,230
Trade and other receivables |
6,283
15,642
4
66,618
Cash and cash equivalents |
73,290
88,932
72,901
Trade and other payables: amounts falling due within one |
year |
(163,553)
(158,391)
5
(90,652)
(69,459)
Net current liabilities
Total assets less current liabilities |
701,871
664,578
(99,104)
(99,104)
Provisions for liabilities |
602,767
Net assets
565,474
100
100
521,600
521,600
81,067
43,774
602,767
565,474
Shareholders' funds
For the year ended 28 February 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006 |
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
These financial statements were approved and authorised for issue by the Board on 20 November 2023 and were signed by: |
The notes form part of these financial statements |
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For the year ended 28 February 2023
Kipcress Limited
Notes to the Financial Statements
Statutory Information
Kipcress Limited is a private limited company, limited by shares, domiciled in England and Wales, registration number |
04165779. |
41 Highwood Gardens
Ilford
Essex
IG5 0AZ
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the |
Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
modified by the revaluation of certain assets. |
Revenue recognition
Turnover represents rents receivable.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Fixtures and fittings
Investment property
Investment properties are included in the balance sheet at their open market value at the balance sheet date. The resulting aggregate surplus or deficit is transferred to a fair value reserve. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years. Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified. |
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.Deferred tax is provided at the current rate of 19% on the amount of fair value reserve. |
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For the year ended 28 February 2023
Kipcress Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment |
11,275
330
11,605
Provision for depreciation and impairment |
6,045
Charge for year
830
6,875
4,730
5,230
3. Investments held as fixed assets |
750,000
750,000
16,600
16,600
766,600
766,600
766,600
766,600
750,000
750,000
4. Trade and other receivables |
2022
2023
15,453
6,103
189
180
6,283
15,642
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For the year ended 28 February 2023
Kipcress Limited
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due within one year |
2022
2023
Taxation and social security |
11,211
10,333
147,180
153,220
158,391
163,553
6. Average number of persons employed |
During the year the average number of employees was 0
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