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REGISTERED NUMBER: 01556280 (England and Wales)





















Unaudited Financial Statements

for the Year Ended 30 April 2023

for

K & L Properties Limited

K & L Properties Limited (Registered number: 01556280)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


K & L Properties Limited

Company Information
for the Year Ended 30 April 2023







DIRECTORS: J G Toon
Mrs S Toon





SECRETARY: Mrs S Toon





REGISTERED OFFICE: 22 Milton Crescent
Attenborough
Nottinghamshire
NG9 6BE





REGISTERED NUMBER: 01556280 (England and Wales)





ACCOUNTANTS: Phipp & Co (Accountants) Limited
6 Nottingham Road
Long Eaton
Nottinghamshire
NG10 1HP

K & L Properties Limited (Registered number: 01556280)

Balance Sheet
30 April 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 3 640,320 640,320

CURRENT ASSETS
Debtors 4 1,391 800
Cash at bank 23,501 47,090
24,892 47,890
CREDITORS
Amounts falling due within one year 5 20,601 67,031
NET CURRENT ASSETS/(LIABILITIES) 4,291 (19,141 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

644,611

621,179

PROVISIONS FOR LIABILITIES 50,478 50,478
NET ASSETS 594,133 570,701

CAPITAL AND RESERVES
Called up share capital 500 500
Fair value reserve 6 201,910 201,910
Retained earnings 391,723 368,291
SHAREHOLDERS' FUNDS 594,133 570,701

K & L Properties Limited (Registered number: 01556280)

Balance Sheet - continued
30 April 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 November 2023 and were signed on its behalf by:





J G Toon - Director


K & L Properties Limited (Registered number: 01556280)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. 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.

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

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 Profit and Loss Account, 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.

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.

2. EMPLOYEES AND DIRECTORS

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

3. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2022
and 30 April 2023 640,320
NET BOOK VALUE
At 30 April 2023 640,320
At 30 April 2022 640,320

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 1,391 800

K & L Properties Limited (Registered number: 01556280)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 7,114 8,338
Other creditors 13,487 58,693
20,601 67,031

6. RESERVES
Fair
value
reserve
£   
At 1 May 2022
and 30 April 2023 201,910