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REGISTERED NUMBER: 12235645 (England and Wales)















Kensit Developments Limited

Unaudited Financial Statements for the Year Ended 31 October 2023






Kensit Developments Limited (Registered number: 12235645)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Kensit Developments Limited (Registered number: 12235645)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 185,923 110,210
Investment property 5 385,000 598,000
570,923 708,210

CURRENT ASSETS
Debtors 6 30,172 32,027
Cash at bank 900 834
31,072 32,861
CREDITORS
Amounts falling due within one year 7 334,438 357,878
NET CURRENT LIABILITIES (303,366 ) (325,017 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

267,557

383,193

CREDITORS
Amounts falling due after more than
one year

8

(294,903

)

(365,210

)

PROVISIONS FOR LIABILITIES (19,555 ) (29,075 )
NET LIABILITIES (46,901 ) (11,092 )

CAPITAL AND RESERVES
Called up share capital 110 110
Retained earnings (47,011 ) (11,202 )
(46,901 ) (11,092 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Kensit Developments Limited (Registered number: 12235645)

Balance Sheet - continued
31 October 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 April 2024 and were signed by:





Mr D R Kensit - Director


Kensit Developments Limited (Registered number: 12235645)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Kensit Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 12235645

Registered office: Suite 16, Enterprise House
Telford Road
Bicester
Oxon
OX26 4LD

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 etc - 33% on reducing balance

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.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Kensit Developments Limited (Registered number: 12235645)

Notes to the Financial Statements - continued
for the Year Ended 31 October 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 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 November 2022 109,350 2,423 111,773
Additions 76,000 - 76,000
At 31 October 2023 185,350 2,423 187,773
DEPRECIATION
At 1 November 2022 - 1,563 1,563
Charge for year - 287 287
At 31 October 2023 - 1,850 1,850
NET BOOK VALUE
At 31 October 2023 185,350 573 185,923
At 31 October 2022 109,350 860 110,210

Kensit Developments Limited (Registered number: 12235645)

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022 598,000
Disposals (163,180 )
Revaluations (49,820 )
At 31 October 2023 385,000
NET BOOK VALUE
At 31 October 2023 385,000
At 31 October 2022 598,000

Fair value at 31 October 2023 is represented by:
£   
Valuation in 2021 24,380
Valuation in 2022 87,968
Valuation in 2023 (10,000 )
Cost 282,652
385,000

If the investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 282,652 445,832

The investment properties were valued on an open market basis on 31 October 2023 by an independent agent .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 30,172 32,027

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 1,032 1,007
Other creditors 333,406 356,871
334,438 357,878

Kensit Developments Limited (Registered number: 12235645)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 1,689 2,721
Other creditors 293,214 362,489
294,903 365,210

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other loans 293,214 362,489

Long term loans are secured by a negative pledge over the investment property held in the company.