2022-03-01 04165779 2023-02-28 04165779 2022-03-01 2023-02-28 04165779 2022-02-28 04165779 2021-03-01 2022-02-28 04165779 uk-core:WithinOneYear 2022-02-28 04165779 uk-core:WithinOneYear 2023-02-28 04165779 uk-core:ShareCapital 2023-02-28 04165779 uk-core:ShareCapital 2022-02-28 04165779 uk-core:InvestmentPropertiesRevaluationReserve 2023-02-28 04165779 uk-core:InvestmentPropertiesRevaluationReserve 2022-02-28 04165779 uk-core:RetainedEarningsAccumulatedLosses 2023-02-28 04165779 uk-core:RetainedEarningsAccumulatedLosses 2022-02-28 04165779 uk-bus:Director1 2022-03-01 2023-02-28 04165779 uk-core:FurnitureFittings 2022-03-01 2023-02-28 04165779 uk-core:CostValuation 2022-02-28 04165779 uk-core:CostValuation uk-core:Non-currentFinancialInstruments 2022-02-28 04165779 uk-core:AdditionsToInvestments 2023-02-28 04165779 uk-core:AdditionsToInvestments uk-core:Non-currentFinancialInstruments 2023-02-28 04165779 uk-core:CostValuation uk-core:Non-currentFinancialInstruments 2023-02-28 04165779 uk-core:CostValuation 2023-02-28 04165779 uk-core:Non-currentFinancialInstruments 2023-02-28 04165779 uk-core:Non-currentFinancialInstruments 2022-02-28 iso4217:GBP xbrli:pure 04165779 uk-bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 04165779 uk-bus:FRS102 2022-03-01 2023-02-28 04165779 uk-bus:FullAccounts 2022-03-01 2023-02-28 04165779 uk-bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28
Kipcress Limited
Registered Number:04165779
For the year ended 28 February 2023
England and Wales
Unaudited Financial Statements
2
For the year ended 28 February 2023
Kipcress Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
04165779
As at 28 February 2023
Kipcress Limited
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
4,730
5,230
2
Financial assets
750,000
766,600
3
771,330
755,230
Current assets
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
Capital and reserves
Called up share capital
100
100
Fair value reserve
521,600
521,600
Retained earnings
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.
Yunus Patel Director
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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4
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.
Registered address:
41 Highwood Gardens
Ilford
Essex
IG5 0AZ
The presentation currency is £ sterling.
1. Accounting policies
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:
15% Reducing balance
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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5
For the year ended 28 February 2023
Kipcress Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Fixtures and
fittings
£
Cost or
valuation
At 01 March 2022
11,275
330
Additions
At 28 February 2023
11,605
Provision for depreciation and impairment
At 01 March 2022
6,045
Charge for year
830
At 28 February 2023
6,875
At 28 February 2023
Net book value
4,730
At 28 February 2022
5,230
3. Investments held as fixed assets
Other investments
Total
At 01 March 2022
750,000
750,000
Cost
£
£
16,600
16,600
Additions
At 28 February 2023
766,600
766,600
At 28 February 2023
Net book value
766,600
766,600
At 01 March 2022
750,000
750,000
4. Trade and other receivables
2022
2023
£
£
Trade debtors
15,453
6,103
Other debtors
189
180
6,283
15,642
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6
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
Other creditors
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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