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REGISTERED NUMBER: 03801988 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st March 2023

for

Kim Stones Limited

Kim Stones Limited (Registered number: 03801988)






Contents of the Financial Statements
for the Year Ended 31st March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Kim Stones Limited

Company Information
for the Year Ended 31st March 2023







DIRECTORS: K Stones
Mrs C Stones





SECRETARY: Mrs C Stones





REGISTERED OFFICE: c/o OCG Accountants Ltd
Biz Hub Tees Valley
Belasis Hall Technology Park
Billingham
TS23 4EA





REGISTERED NUMBER: 03801988 (England and Wales)





ACCOUNTANTS: OCG Accountants Ltd
Biz Hub Tees Valley
Belasis Hall Technology Park
Coxwold Way
Billingham
Co. Durham
TS23 4EA

Kim Stones Limited (Registered number: 03801988)

Balance Sheet
31st March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Investment property 5 1,243,689 1,239,086
1,243,689 1,239,086

CURRENT ASSETS
Debtors 6 33,104 32,591
Investments 7 205,000 205,000
Cash at bank 2,369 52,489
240,473 290,080
CREDITORS
Amounts falling due within one year 8 (384,083 ) (415,562 )
NET CURRENT LIABILITIES (143,610 ) (125,482 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,100,079 1,113,604

CREDITORS
Amounts falling due after more than one
year

9

(530,045

)

(537,385

)

PROVISIONS FOR LIABILITIES (23,176 ) (23,176 )
NET ASSETS 546,858 553,043

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 11 517,821 517,821
Retained earnings 28,937 35,122
546,858 553,043

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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.

Kim Stones Limited (Registered number: 03801988)

Balance Sheet - continued
31st March 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 15th March 2024 and were signed on its behalf by:





K Stones - Director


Kim Stones Limited (Registered number: 03801988)

Notes to the Financial Statements
for the Year Ended 31st March 2023

1. STATUTORY INFORMATION

Kim Stones 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.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 NIL (2022 - NIL).

Kim Stones Limited (Registered number: 03801988)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2022
and 31st March 2023 4,500
AMORTISATION
At 1st April 2022
and 31st March 2023 4,500
NET BOOK VALUE
At 31st March 2023 -
At 31st March 2022 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2022 1,239,086
Additions 4,603
At 31st March 2023 1,243,689
NET BOOK VALUE
At 31st March 2023 1,243,689
At 31st March 2022 1,239,086

The directors' see no benefit in revaluing the properties.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 33,104 32,591

7. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Other 205,000 205,000

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 4,374 4,374
Taxation and social security 24,848 29,956
Other creditors 354,861 381,232
384,083 415,562

Kim Stones Limited (Registered number: 03801988)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 30,789 35,214
Other creditors 499,256 502,171
530,045 537,385

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Mortgages 499,256 502,171

11. RESERVES
Revaluation
reserve
£   
At 1st April 2022
and 31st March 2023 517,821