Kingsway Property Development Limited Filleted Accounts Cover
Kingsway Property Development Limited
Company No. 10751176
Information for Filing with The Registrar
30 June 2023
Kingsway Property Development Limited Directors Report Registrar
The Director presents his report and the accounts for the year ended 30 June 2023.
Principal activities
The principal activity of the company during the year under review was property development. No properties were completed and therefore sold during the period under review.
Director
The Director who served at any time during the year was as follows:
D. Newman
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
D. Newman
Director
07 February 2024
Kingsway Property Development Limited Balance Sheet Registrar
at
30 June 2023
Company No.
10751176
Notes
2023
2022
£
£
Current assets
Stocks
4
159,876159,876
Cash at bank and in hand
641641
160,517160,517
Creditors: Amount falling due within one year
5
(174,693)
(174,093)
Net current liabilities
(14,176)
(13,576)
Total assets less current liabilities
(14,176)
(13,576)
Net liabilities
(14,176)
(13,576)
Capital and reserves
Called up share capital
100100
Profit and loss account
7
(14,276)
(13,676)
Total equity
(14,176)
(13,576)
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 07 February 2024 and signed on its behalf by:
D. Newman
Director
07 February 2024
Kingsway Property Development Limited Notes to the Accounts Registrar
for the year ended 30 June 2023
1
General information
Kingsway Property Development Limited is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 10751176
Its registered office is:
Unit 1
Carden Close
Worcester
WR1 2AR
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Taxation
Income tax expense represents the sum of the tax currently payable. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3
Employees
2023
2022
Number
Number
The average monthly number of employees (including directors) during the year was:
00
4
Stocks
2023
2022
£
£
Work in progress
159,876159,876
159,876159,876
5
Creditors:
amounts falling due within one year
2023
2022
£
£
Other loans
174,092173,492
Accruals and deferred income
601601
174,693174,093
6
Share Capital
The share capital, issued, allotted and fully paid, comprises 255 Ordinary, 255 Ordinary A, 220 Ordinary B, 220 Ordinary C and 50 Ordinary D shares of £0.10 each.
7
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
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