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REGISTERED NUMBER: 11222853 (England and Wales)











Unaudited Financial Statements

for the Year Ended 28 February 2023

for

Kewarra Property Limited

Kewarra Property Limited (Registered number: 11222853)

Contents of the Financial Statements
for the Year Ended 28 February 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Kewarra Property Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: C J Hoyes
Dr A E Hoyes





REGISTERED OFFICE: 9 Trotsworth Avenue
Virginia Water
Surrey
GU25 4AL





REGISTERED NUMBER: 11222853 (England and Wales)





ACCOUNTANTS: Butt Miller
Chartered Accountants
1 Minster Court
Tuscam Way
Camberley
Surrey
GU15 3YY

Kewarra Property Limited (Registered number: 11222853)

Statement of Financial Position
28 February 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,726 3,689
Investment property 5 1,710,000 1,710,000
1,712,726 1,713,689

CURRENT ASSETS
Debtors 6 1,640 1,858
Cash at bank 8,529 1,732
10,169 3,590
CREDITORS
Amounts falling due within one year 7 (370,950 ) (411,585 )
NET CURRENT LIABILITIES (360,781 ) (407,995 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,351,945

1,305,694

CREDITORS
Amounts falling due after more than one
year

8

(1,120,874

)

(1,118,569

)

PROVISIONS FOR LIABILITIES (31,074 ) (31,093 )
NET ASSETS 199,997 156,032

CAPITAL AND RESERVES
Called up share capital 100 100
Non-distributable reserve 91,176 91,176
Retained earnings 108,721 64,756
199,997 156,032

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

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 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.

Kewarra Property Limited (Registered number: 11222853)

Statement of Financial Position - continued
28 February 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 Board of Directors and authorised for issue on 10 November 2023 and were signed on its behalf by:





C J Hoyes - Director


Kewarra Property Limited (Registered number: 11222853)

Notes to the Financial Statements
for the Year Ended 28 February 2023


1. STATUTORY INFORMATION

Kewarra 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% on cost

Investment property
Investment property is shown at fair value determined annually by the directors. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Income Statement before being transferred to the non-distributable reserve in the Statement of Changes in Equity.

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.

Pension costs and other post-retirement benefits
The company contributes to privately administered pension plans. Contributions are expensed as incurred.

Income
Other income relates to rents receivable and is recognised over the term of the rental. Rents received in advance are held within deferred income.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Kewarra Property Limited (Registered number: 11222853)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 March 2022
and 28 February 2023 3,850
DEPRECIATION
At 1 March 2022 161
Charge for year 963
At 28 February 2023 1,124
NET BOOK VALUE
At 28 February 2023 2,726
At 28 February 2022 3,689

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022
and 28 February 2023 1,710,000
NET BOOK VALUE
At 28 February 2023 1,710,000
At 28 February 2022 1,710,000


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 1,102 1,101
Prepayments 538 757
1,640 1,858

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 213 221
Tax 10,542 5,163
Other creditors 251,654 245,434
Directors' current account 107,691 160,767
Accruals and deferred income 850 -
370,950 411,585

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Mortgages 1,120,874 1,118,569

Kewarra Property Limited (Registered number: 11222853)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Mortgages 1,120,874 1,118,569

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Mortgages 1,120,874 1,118,569

The above mortgages are secured by fixed charges over the properties known as 48 School Lane, 71 Nightingale Shott and 75 Nightingale Shott. C J Hoyes and Dr A E Hoyes have given personal guarantees in respect of the above mortgages.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2023 and 28 February 2022:

2023 2022
£    £   
C J Hoyes and Dr A E Hoyes
Balance outstanding at start of year (160,767 ) (228,602 )
Amounts advanced 55,700 71,800
Amounts repaid (2,624 ) (3,965 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (107,691 ) (160,767 )

The above loan is unsecured, subject to interest as determined by the directors and repayable on demand.

11. RELATED PARTY DISCLOSURES

Included under other creditors are amounts totalling £227,500 (2022: £227,500) owed to a company under common control of one of the directors. The loan is interest free, unsecured and repayable on demand.