Silverfin false 31/03/2023 01/04/2022 31/03/2023 Ms C L Simonds 06/12/2018 20 November 2023 The principal activity of the Company is that of a property rental business. 11715246 2023-03-31 11715246 bus:Director1 2023-03-31 11715246 2022-03-31 11715246 core:CurrentFinancialInstruments 2023-03-31 11715246 core:CurrentFinancialInstruments 2022-03-31 11715246 core:Non-currentFinancialInstruments 2023-03-31 11715246 core:Non-currentFinancialInstruments 2022-03-31 11715246 core:ShareCapital 2023-03-31 11715246 core:ShareCapital 2022-03-31 11715246 core:SharePremium 2023-03-31 11715246 core:SharePremium 2022-03-31 11715246 core:RetainedEarningsAccumulatedLosses 2023-03-31 11715246 core:RetainedEarningsAccumulatedLosses 2022-03-31 11715246 core:PlantMachinery 2022-03-31 11715246 core:OfficeEquipment 2022-03-31 11715246 core:PlantMachinery 2023-03-31 11715246 core:OfficeEquipment 2023-03-31 11715246 bus:OrdinaryShareClass1 2023-03-31 11715246 2022-04-01 2023-03-31 11715246 bus:FullAccounts 2022-04-01 2023-03-31 11715246 bus:SmallEntities 2022-04-01 2023-03-31 11715246 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 11715246 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 11715246 bus:Director1 2022-04-01 2023-03-31 11715246 core:PlantMachinery 2022-04-01 2023-03-31 11715246 core:OfficeEquipment 2022-04-01 2023-03-31 11715246 2021-04-01 2022-03-31 11715246 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 11715246 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 11715246 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 11715246 (England and Wales)

KILLYON PROPERTIES LTD

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

KILLYON PROPERTIES LTD

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

KILLYON PROPERTIES LTD

COMPANY INFORMATION

For the financial year ended 31 March 2023
KILLYON PROPERTIES LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2023
DIRECTOR Ms C L Simonds
SECRETARY Ms C L Simonds
REGISTERED OFFICE Sigma House
Oak View Close
Edginswell Park
Torquay
Devon
TQ2 7FF
United Kingdom
COMPANY NUMBER 11715246 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
KILLYON PROPERTIES LTD

BALANCE SHEET

As at 31 March 2023
KILLYON PROPERTIES LTD

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 2,047 598
Investment property 4 6,350,000 6,350,000
6,352,047 6,350,598
Current assets
Debtors 5 89,307 29,872
Cash at bank and in hand 18,099 46,465
107,406 76,337
Creditors: amounts falling due within one year 6 ( 74,798) ( 52,551)
Net current assets 32,608 23,786
Total assets less current liabilities 6,384,655 6,374,384
Creditors: amounts falling due after more than one year 7 ( 2,148,470) ( 2,148,522)
Net assets 4,236,185 4,225,862
Capital and reserves
Called-up share capital 8 1,000 1,000
Share premium account 4,167,508 4,167,508
Profit and loss account 67,677 57,354
Total shareholder's funds 4,236,185 4,225,862

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Killyon Properties Ltd (registered number: 11715246) were approved and authorised for issue by the Director on 20 November 2023. They were signed on its behalf by:

Ms C L Simonds
Director
KILLYON PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
KILLYON PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Killyon Properties Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sigma House, Oak View Close, Edginswell Park,Torquay, Devon, TQ2 7FF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of refunds, rebates and discounts.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Office equipment 33 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life. Investment Properties are not depreciated.

Leases


The Company as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the company’s net investment outstanding in respect of leases.

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Tangible assets

Plant and machinery Office equipment Total
£ £ £
Cost
At 01 April 2022 1 1,069 1,070
Additions 1,415 789 2,204
At 31 March 2023 1,416 1,858 3,274
Accumulated depreciation
At 01 April 2022 1 471 472
Charge for the financial year 142 613 755
At 31 March 2023 143 1,084 1,227
Net book value
At 31 March 2023 1,273 774 2,047
At 31 March 2022 0 598 598

4. Investment property

Investment property
£
Valuation
As at 01 April 2022 6,350,000
As at 31 March 2023 6,350,000

There has been no valuation of investment property by an independent valuer during the year. The director believes that the market value has not materially changed from that shown at the date of acquisition.

5. Debtors

2023 2022
£ £
Trade debtors 980 0
Other debtors 88,327 29,872
89,307 29,872

6. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 3,391 16,716
Other creditors 71,407 35,835
74,798 52,551

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 2,148,470 2,148,522

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000

9. Ultimate controlling party

Parent Company:

Killyon Holdings Ltd
Registered Address

Sigma House, Oak View Close, Edginswell Park, Torquay, Devon, TQ2 7FF