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REGISTERED NUMBER: 09188360 (England and Wales)












Kingsway (Rochdale) Limited

Unaudited Financial Statements

for the Year Ended 30 June 2023






Kingsway (Rochdale) Limited (Registered number: 09188360)






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




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


Kingsway (Rochdale) Limited

Company Information
for the Year Ended 30 June 2023







Directors: Mr E S C Blood
Mr M P Hewitt
Mr S D Merry





Registered office: Mynshull House
78 Churchgate
Stockport
Cheshire
SK1 1YJ





Registered number: 09188360 (England and Wales)





Accountants: Warr & Co Limited
Chartered Accountants
Mynshull House
78 Churchgate
Stockport
Cheshire
SK1 1YJ

Kingsway (Rochdale) Limited (Registered number: 09188360)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
Fixed assets
Investment property 4 1,800,000 1,800,000

Current assets
Debtors 5 10,573 25,560
Cash at bank 9,861 7,776
20,434 33,336
Creditors
Amounts falling due within one year 6 649,235 698,607
Net current liabilities (628,801 ) (665,271 )
Total assets less current liabilities 1,171,199 1,134,729

Provisions for liabilities 7 212,406 161,429
Net assets 958,793 973,300

Capital and reserves
Called up share capital 10 10
Fair value reserve 8 710,055 761,032
Retained earnings 248,728 212,258
958,793 973,300

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

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

Kingsway (Rochdale) Limited (Registered number: 09188360)

Balance Sheet - continued
30 June 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 13 February 2024 and were signed on its behalf by:





Mr S D Merry - Director


Kingsway (Rochdale) Limited (Registered number: 09188360)

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

1. Statutory information

Kingsway (Rochdale) 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.

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.

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 properties are initially measured at cost and subsequently measured at fair value. Changes in fair value are recognised in profit or loss.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102. The directors consider that, because investment properties are not held for consumption, but for their investment potential, to depreciate them would not give a true and fair view.

If this departure from the Companies Act 2006 had not been made in order to give a true and fair view, the profit for the financial year would have been reduced by depreciation. However the amount of depreciation cannot reasonably be quantified, because depreciation is only one of many factors reflected in the annual valuation and the amount relating to the depreciation of the property cannot be separately identified.

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 balance sheet date.


Kingsway (Rochdale) Limited (Registered number: 09188360)

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

2. Accounting policies - continued
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.

3. Employees and directors

The average number of employees during the year was 3 (2022 - 3 ) .

4. Investment property
Total
£   
Fair value
At 1 July 2022
and 30 June 2023 1,800,000
Net book value
At 30 June 2023 1,800,000
At 30 June 2022 1,800,000

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2023 1,800,000

If investment property had not been revalued it would have been included at the following historical cost:

30.6.23 30.6.22
£    £   
Cost 877,539 877,539

Investment property was valued on an open market basis on 30 June 2023 by the directors .

Kingsway (Rochdale) Limited (Registered number: 09188360)

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

5. Debtors: amounts falling due within one year
30.6.23 30.6.22
£    £   
Trade debtors - 3,420
Other debtors 10,573 22,140
10,573 25,560

6. Creditors: amounts falling due within one year
30.6.23 30.6.22
£    £   
Trade creditors - 2,850
Amounts owed to group undertakings 591,517 645,932
Taxation and social security 29,233 21,061
Other creditors 28,485 28,764
649,235 698,607

7. Provisions for liabilities
30.6.23 30.6.22
£    £   
Deferred tax
Other timing differences 212,406 161,429

Deferred
tax
£   
Balance at 1 July 2022 161,429
Charge to Income statement during year 50,977
Balance at 30 June 2023 212,406

8. Reserves
Fair
value
reserve
£   
At 1 July 2022 761,032
To retained earnings (50,977 )

At 30 June 2023 710,055

9. Ultimate controlling party

The ultimate controlling party is Assembly Property Holdings Limited.