Caseware UK (AP4) 2022.0.179 2022.0.179 2023-09-302023-09-30falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.1Property investment2022-10-01true1true 3763913 2022-10-01 2023-09-30 3763913 2021-10-01 2022-09-30 3763913 2023-09-30 3763913 2022-09-30 3763913 c:Director1 2022-10-01 2023-09-30 3763913 d:FreeholdInvestmentProperty 2023-09-30 3763913 d:FreeholdInvestmentProperty 2022-09-30 3763913 d:FreeholdInvestmentProperty 2 2022-10-01 2023-09-30 3763913 d:CurrentFinancialInstruments 2023-09-30 3763913 d:CurrentFinancialInstruments 2022-09-30 3763913 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 3763913 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 3763913 d:ShareCapital 2023-09-30 3763913 d:ShareCapital 2022-09-30 3763913 d:RevaluationReserve 2022-10-01 2023-09-30 3763913 d:RevaluationReserve 2023-09-30 3763913 d:RevaluationReserve 2022-09-30 3763913 d:RetainedEarningsAccumulatedLosses 2022-10-01 2023-09-30 3763913 d:RetainedEarningsAccumulatedLosses 2023-09-30 3763913 d:RetainedEarningsAccumulatedLosses 2022-09-30 3763913 c:FRS102 2022-10-01 2023-09-30 3763913 c:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 3763913 c:FullAccounts 2022-10-01 2023-09-30 3763913 c:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 3763913 d:OtherDeferredTax 2023-09-30 3763913 d:OtherDeferredTax 2022-09-30 3763913 2 2022-10-01 2023-09-30 3763913 f:PoundSterling 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure

Registered number: 3763913









KENT VEHICLE SERVICES LTD.








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

 
KENT VEHICLE SERVICES LTD.
REGISTERED NUMBER: 3763913

BALANCE SHEET
AS AT 30 SEPTEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
1,235,000
1,035,000

Current assets
  

Debtors: amounts falling due within one year
 5 
975,000
975,000

Cash at bank and in hand
 6 
55,581
57,447

Creditors: amounts falling due within one year
 7 
(130,397)
(205,548)

Net current assets
  
 
 
900,184
 
 
826,899

Provisions for liabilities
  

Deferred tax
 8 
(44,554)
-

Net assets
  
2,090,630
1,861,899


Capital and reserves
  

Called up share capital 
  
2
2

Non-distributable profit reserve
 9 
238,502
83,056

Profit and loss account
 9 
1,852,126
1,778,841

  
2,090,630
1,861,899


Page 1

 
KENT VEHICLE SERVICES LTD.
REGISTERED NUMBER: 3763913
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2023

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 5 February 2024.






Miss K Frost
Director

The notes on pages 3 to 7 form part of these financial statements.



Page 2

 
KENT VEHICLE SERVICES LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

Kent Vehicle Services Ltd is a company limited by shares, incorporated in England.  The principal place of business is 2a Landau Way, Darent Industrial Park, Erith, DA8 2LF and the registered office is Suite D, The Business Centre, Faringdon Avenue, Romford, Essex, RM3 8EN.  The principal activity is that of property rental.   

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
KENT VEHICLE SERVICES LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.5

Investment property

Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit and loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
KENT VEHICLE SERVICES LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.10

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Balance Sheet when the company becomes party to the contractual provisions of the instrument.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2022 -1).


4.


Investment property


Freehold investment property

£



Valuation


At 1 October 2022
1,035,000


Surplus on revaluation
200,000



At 30 September 2023
1,235,000

The 2023 valuations were made by the director, on an open market value for existing use basis.






Page 5

 
KENT VEHICLE SERVICES LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

5.


Debtors

2023
2022
£
£


Other debtors
975,000
975,000



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
55,581
57,447



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
19,080
94,429

Other creditors
108,635
108,635

Accruals and deferred income
2,682
2,484

130,397
205,548


Page 6

 
KENT VEHICLE SERVICES LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

8.


Deferred taxation




2023


£






Charged to profit or loss
(44,554)



At end of year
(44,554)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Investment property revaluation
(44,554)
-


9.


Reserves

Non-distributable profit reserve

Non-distributable reserves relating to the unrealised gain or loss on fair value adjustments of investment properties.

Profit & loss account

Includes all current and prior period retained profits and losses.


10.


Related party transactions




2023
2022
£
£

Amounts owed by related parties
975,000
975,000
Amounts owed to related parties
86,635
86,635
Sale of property to related parties
-
975,000

Page 7