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Kimmance Properties Limited

Unaudited Financial Statements for the Year Ended 31 March 2023






Kimmance Properties Limited (Registered number: 02972322)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Kimmance Properties Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: M D Thompson
K E Dunn





SECRETARY: D Thompson





REGISTERED OFFICE: 48 - 52 Penny Lane
Mossley Hill
Liverpool
Merseyside
L18 1DG





REGISTERED NUMBER: 02972322 (England and Wales)





ACCOUNTANTS: MATTHEWS SUTTON & CO LTD
Chartered Certified Accountants
48 - 52 Penny Lane
Mossley Hill
Liverpool
L18 1DG

Kimmance Properties Limited (Registered number: 02972322)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,349 4,187
Investments 5 100 100
Investment property 6 890,000 785,000
893,449 789,287

CURRENT ASSETS
Cash at bank 44 296

CREDITORS
Amounts falling due within one year 7 108,436 95,721
NET CURRENT LIABILITIES (108,392 ) (95,425 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

785,057

693,862

CREDITORS
Amounts falling due after more than one
year

8

(313,922

)

(345,912

)

PROVISIONS FOR LIABILITIES (90,281 ) (67,199 )
NET ASSETS 380,854 280,751

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Fair value reserve 9 268,938 186,383
Retained earnings 101,916 84,368
SHAREHOLDERS' FUNDS 380,854 280,751

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

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

Kimmance Properties Limited (Registered number: 02972322)

Balance Sheet - continued
31 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 2 February 2024 and were signed on its behalf by:





M D Thompson - Director


Kimmance Properties Limited (Registered number: 02972322)

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

1. STATUTORY INFORMATION

Kimmance Properties 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 represents net rents receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 April 2022
and 31 March 2023 19,556
DEPRECIATION
At 1 April 2022 15,369
Charge for year 838
At 31 March 2023 16,207
NET BOOK VALUE
At 31 March 2023 3,349
At 31 March 2022 4,187

Kimmance Properties Limited (Registered number: 02972322)

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

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2022
and 31 March 2023 100
NET BOOK VALUE
At 31 March 2023 100
At 31 March 2022 100

6. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 April 2022 785,000
Revaluations 105,000
At 31 March 2023 890,000
NET BOOK VALUE
At 31 March 2023 890,000
At 31 March 2022 785,000

Investment properties were valued using market data by the director on 31/03/2023.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 18,532 15,037
Trade creditors 1,596 971
Amounts owed to group undertakings 60,000 60,000
Taxation and social security 2,594 1,510
Other creditors 25,714 18,203
108,436 95,721

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 313,922 345,912

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 216,505 -

Repayable by instalments
Bank loans more 5 yr by instal 67,737 290,556

Kimmance Properties Limited (Registered number: 02972322)

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

9. RESERVES
Fair
value
reserve
£   
At 1 April 2022 186,383
Fair value reserve 82,555

At 31 March 2023 268,938