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REGISTERED NUMBER: 06462834 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 30 June 2023

for

Kingston Property Limited

Kingston Property Limited (Registered number: 06462834)






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


Kingston Property Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: S T Kingston
Mrs N A Kingston





SECRETARY: Mrs N A Kingston





REGISTERED OFFICE: Hartnoll Business Centre
Post Hill
Tiverton
Devon
EX16 4NG





REGISTERED NUMBER: 06462834 (England and Wales)

Kingston Property Limited (Registered number: 06462834)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,215,000 1,215,000

CURRENT ASSETS
Debtors 5 143,864 141,733
Cash at bank 61,555 91,525
205,419 233,258
CREDITORS
Amounts falling due within one year 6 34,882 304,008
NET CURRENT ASSETS/(LIABILITIES) 170,537 (70,750 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,385,537

1,144,250

CREDITORS
Amounts falling due after more than one
year

7

(568,813

)

(326,212

)

PROVISIONS FOR LIABILITIES (87,034 ) (87,034 )
NET ASSETS 729,690 731,004

CAPITAL AND RESERVES
Called up share capital 200 200
Non-distributable reserve 371,037 371,037
Retained earnings 358,453 359,767
729,690 731,004

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.

Kingston Property Limited (Registered number: 06462834)

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 7 March 2024 and were signed on its behalf by:




S T Kingston - Director



Mrs N A Kingston - Director


Kingston Property Limited (Registered number: 06462834)

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

1. STATUTORY INFORMATION

Kingston 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.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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 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.

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 2 (2022 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022
and 30 June 2023 1,215,000
NET BOOK VALUE
At 30 June 2023 1,215,000
At 30 June 2022 1,215,000

Kingston Property Limited (Registered number: 06462834)

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

4. INVESTMENT PROPERTY - continued

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2019 288,070
Valuation in 2022 170,000
Cost 756,930
1,215,000

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

2023 2022
£    £   
Cost 756,930 756,930

Investment properties were valued on an open market basis on 30 June 2023 by the directors .

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Prepayments and accrued income 282 229

Amounts falling due after more than one year:
Amounts owed by group undertakings 143,422 141,344
Amts owed by related party 160 160
143,582 141,504

Aggregate amounts 143,864 141,733

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 20,192 19,769
Tax 8,228 44,038
Other creditors 512 512
Directors' current accounts - 234,078
Accruals and deferred income 5,950 5,611
34,882 304,008

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 20,741 20,192
Bank loans - 2-5 years 93,029 101,072
Bank loans more 5 yr by instal 166,965 180,948
Amounts owed to group undertakings 288,078 24,000
568,813 326,212

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 166,965 180,948

Kingston Property Limited (Registered number: 06462834)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 300,927 321,981

The bank loans are secured by fixed and floating charges over the properties to which the borrowings relate.

9. ULTIMATE CONTROLLING PARTY

The controlling party is Kingston Holding Group Limited.

The ultimate controlling party is S T Kingston and Mrs N A Kingston.