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Registration number: 04439582

Kingston Apartments Ltd

Filleted Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 May 2023

 

Kingston Apartments Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 6

 

Kingston Apartments Ltd

Company Information





 

Directors

Mr M Peniuk

Mr DH Baines




 

Company secretary

Mr DH Baines



 

Registered office

C/o Mill Heath Nursing Home
Parret Road
Newport
South Wales
NP20 7DQ



 

Accountants

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

 

Kingston Apartments Ltd

(Registration number: 04439582)
Abridged Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Current assets

 

Debtors

18,761

27,678

Cash at bank and in hand

 

56,498

56,619

 

75,259

84,297

Creditors: Amounts falling due within one year

(34,891)

-

Total assets less current liabilities

 

40,368

84,297

Creditors: Amounts falling due after more than one year

-

(40,738)

Accruals and deferred income

 

(960)

(960)

Net assets

 

39,408

42,599

Capital and reserves

 

Called up share capital

4

75

75

Capital redemption reserve

25

25

Profit and loss account

39,308

42,499

Total equity

 

39,408

42,599

 

Kingston Apartments Ltd

(Registration number: 04439582)
Abridged Balance Sheet as at 31 May 2023

For the financial year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 February 2024 and signed on its behalf by:
 

.........................................

Mr DH Baines
Company secretary and director

 

Kingston Apartments Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
C/o Mill Heath Nursing Home
Parret Road
Newport
South Wales
NP20 7DQ

The principal place of business is:
Accounts Office
Millheath Nursing Home
Parret Road
Bettws
Newport
NP20 7DQ

These financial statements were authorised for issue by the Board on 19 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Kingston Apartments Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Kingston Apartments Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2023

4

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

75

75

75

75

         

5

Related party transactions

Transactions with directors

Other transactions with directors

During the year the company made unsecured interest free, repayable, on demand loans to the directors. At the balance sheet date, the amount owed to the company was £(18,761) - (2022 - £40,738).

2023

At 1 June 2022
£

Advances to director
£

At 31 May 2023
£

Advances and Repayments

40,738

(59,499)

(18,761)

       
     

 

2022

At 1 June 2021
£

At 31 May 2022
£

Advances and Repayments

40,738

40,738