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REGISTERED NUMBER: 13346477 (England and Wales)

















KWHOUSING WEST DRAYTON LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022






KWHOUSING WEST DRAYTON LTD (REGISTERED NUMBER: 13346477)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


KWHOUSING WEST DRAYTON LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTORS: S E Law
Ms I Stamate-Rocha





SECRETARY: Broughton Secretaries Limited





REGISTERED OFFICE: 54 Portland Place
London
United Kingdom
W1B 1DY





REGISTERED NUMBER: 13346477 (England and Wales)





AUDITORS: Keelings Limited
Statutory Auditors, Chartered Tax Advisers
and Chartered Certified Accountants
Broad House
1 The Broadway
Old Hatfield
Hertfordshire
AL9 5BG

KWHOUSING WEST DRAYTON LTD (REGISTERED NUMBER: 13346477)

BALANCE SHEET
31 DECEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 3,120,456 4,347,825

CURRENT ASSETS
Debtors 5 217,130 53,330

CREDITORS
Amounts falling due within one year 6 10,950 2,584,200
NET CURRENT ASSETS/(LIABILITIES) 206,180 (2,530,870 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,326,636

1,816,955

CREDITORS
Amounts falling due after more than one year 7 3,325,342 1,735,735
NET ASSETS 1,294 81,220

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 1,194 81,120
SHAREHOLDERS' FUNDS 1,294 81,220

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 21 March 2024 and were signed on its behalf by:





Ms I Stamate-Rocha - Director


KWHOUSING WEST DRAYTON LTD (REGISTERED NUMBER: 13346477)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1. STATUTORY INFORMATION

KWHousing West Drayton Ltd 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.

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.

Going concern
The parent of the company's parent's parent has undertaken to provide the company with such financial support as it may need for at least the twelve months after these accounts are approved and so the directors have prepared these accounts on the going concern basis.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reports. The estimates and judgments are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. However, actual results may differ from those anticipated.

In preparing these financial statements, the directors have exercised judgement in the following principal areas:
- In evaluating the recoverability of debtors and estimating the quantum of associated doubtful debts when collection of the full amount is no longer probable. The directors' best estimate is based on the period the debt has been outstanding and the difficulties experienced and anticipated in pursuing collection.
- In determining whether there are indicators of impairment of the company's tangible fixed assets. Factors taken into consideration in reaching a decision include the economic viability and expected future financial performance of the asset.

Turnover
The company lets its investment property and turnover represents the rent received or receivable in the year; it excludes discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is included at fair value. Any surplus or deficit arising from changes in fair value is recognised in the Income Statement.

Any fair value gains or losses do not represent distributable profits and so they are credited to a separate non-distributable reserve.

Depreciation is not provided on the investment properties, which is a departure from the Companies Act 2006. In the opinion of the directors, the properties are primarily investments and so their current value is of more significance than any measure of consumption; consequently, they believe that any depreciation charge would distort the true and fair view presented by the accounts and therefore the accounts do not include a depreciation charge in respect of these properties.

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.


KWHOUSING WEST DRAYTON LTD (REGISTERED NUMBER: 13346477)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

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 NIL (2021 - NIL).

4. INVESTMENT PROPERTY
Total
£   
COST
At 1 January 2022 4,347,825
Additions 22,631
Disposals (1,250,000 )
At 31 December 2022 3,120,456
NET BOOK VALUE
At 31 December 2022 3,120,456
At 31 December 2021 4,347,825

5. DEBTORS
2022 2021
£    £   
Amounts falling due within one year:
Trade debtors 50,000 50,000
Other debtors 3,330 3,330
53,330 53,330

Amounts falling due after more than one year:
Amounts owed by group undertakings 163,800 -

Aggregate amounts 217,130 53,330

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts (see note 8) - 2,580,000
Accrued expenses 10,950 4,200
10,950 2,584,200

KWHOUSING WEST DRAYTON LTD (REGISTERED NUMBER: 13346477)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans (see note 8) 1,276,250 -
Amounts owed to group undertakings 2,049,092 1,735,735
3,325,342 1,735,735

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans 1,276,250 -

8. BANK LOANS

An analysis of the maturity of bank loans is given below:

2022 2021
£    £   
Amounts falling due within one year or on demand:
Bank loans - 2,580,000

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans 1,276,250 -

9. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans 1,276,250 2,580,000

The bank loan is secured by a fixed and floating charge over the company's investment property.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Retained
earnings
£   

At 1 January 2022 81,120
Deficit for the year (79,926 )
At 31 December 2022 1,194

KWHOUSING WEST DRAYTON LTD (REGISTERED NUMBER: 13346477)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Domenico Maurello (Senior Statutory Auditor)
for and on behalf of Keelings Limited

13. RELATED PARTY DISCLOSURES

The company owed £1,994,007 (2021 - £1,735,735) to its immediate parent at the balance sheet date. This loan is interest-free and no repayment terms have been set, save that the parent has confirmed that it will not seek repayment within one year of the balance sheet date.