Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01falseBuying and selling of own real estate11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09421957 2022-04-01 2023-03-31 09421957 2021-04-01 2022-03-31 09421957 2023-03-31 09421957 2022-03-31 09421957 c:Director1 2022-04-01 2023-03-31 09421957 d:FreeholdInvestmentProperty 2023-03-31 09421957 d:FreeholdInvestmentProperty 2022-03-31 09421957 d:FreeholdInvestmentProperty 2 2022-04-01 2023-03-31 09421957 d:CurrentFinancialInstruments 2023-03-31 09421957 d:CurrentFinancialInstruments 2022-03-31 09421957 d:Non-currentFinancialInstruments 2023-03-31 09421957 d:Non-currentFinancialInstruments 2022-03-31 09421957 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09421957 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 09421957 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 09421957 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 09421957 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 09421957 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 09421957 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 09421957 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 09421957 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 09421957 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-03-31 09421957 d:ShareCapital 2023-03-31 09421957 d:ShareCapital 2022-03-31 09421957 d:InvestmentPropertiesRevaluationReserve 2022-04-01 2023-03-31 09421957 d:InvestmentPropertiesRevaluationReserve 2023-03-31 09421957 d:InvestmentPropertiesRevaluationReserve 2022-03-31 09421957 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 09421957 d:RetainedEarningsAccumulatedLosses 2023-03-31 09421957 d:RetainedEarningsAccumulatedLosses 2022-03-31 09421957 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 09421957 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-03-31 09421957 d:FinancialLiabilitiesFairValueThroughProfitOrLoss d:UnlistedNon-exchangeTraded 2023-03-31 09421957 d:FinancialLiabilitiesFairValueThroughProfitOrLoss d:UnlistedNon-exchangeTraded 2022-03-31 09421957 c:FRS102 2022-04-01 2023-03-31 09421957 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 09421957 c:FullAccounts 2022-04-01 2023-03-31 09421957 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 09421957 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 09421957 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 09421957 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 09421957 d:TaxLossesCarry-forwardsDeferredTax 2022-03-31 09421957 f:PoundSterling 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number:  09421957














KLIN PROPERTY LIVERPOOL LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


 
KLIN PROPERTY LIVERPOOL LTD
REGISTERED NUMBER: 09421957

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
2,250,000
1,402,660

  
2,250,000
1,402,660

Current assets
  

Debtors: amounts falling due within one year
 5 
504,971
446,406

Cash at bank and in hand
 6 
161,618
217,657

  
666,589
664,063

Creditors: amounts falling due within one year
 7 
(323,169)
(362,634)

Net current assets
  
 
 
343,420
 
 
301,429

Total assets less current liabilities
  
2,593,420
1,704,089

Creditors: amounts falling due after more than one year
 8 
(1,649,095)
(1,498,575)

Provisions for liabilities
  

Deferred tax
  
(219,301)
-

  
 
 
(219,301)
 
 
-

Net assets
  
725,024
205,514


Capital and reserves
  

Called up share capital 
  
1
1

Investment property reserve
 12 
746,876
145,979

Profit and loss account
 12 
(21,853)
59,534

  
725,024
205,514


Page 1

 
KLIN PROPERTY LIVERPOOL LTD
REGISTERED NUMBER: 09421957
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




R Klin
Director

Date: 7 March 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
KLIN PROPERTY LIVERPOOL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

The company is a private company limited by shares, which is incorporated under the Companies Act 2006 and registered in England and Wales (no. 09421957). The address of the registered off is Harwood House, 43 Harwood Road, London, SW6 4QP.
These financial statements present information about the company as an individual undertaking; it is not a member of a group of companies. The principal activity of the company is that of residential property rental.
The presentation currency of these financial statements is £ sterling; the financial statements are
rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
KLIN PROPERTY LIVERPOOL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 4

 
KLIN PROPERTY LIVERPOOL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

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.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.
 
Page 5

 
KLIN PROPERTY LIVERPOOL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.11
Financial instruments (continued)


Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2022
1,402,660


Surplus on revaluation
847,340



At 31 March 2023
2,250,000

The 2023 valuations were made by the director R Klin, on an open market value for existing use basis.





5.


Debtors

Page 6

 
KLIN PROPERTY LIVERPOOL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
2023
2022
£
£


Other debtors
504,971
446,406

504,971
446,406



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
161,618
217,657

Less: bank overdrafts
-
(10,565)

161,618
207,092



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
-
10,565

Bank loans
10,648
10,648

Corporation tax
14,773
14,773

Other creditors
285,206
317,706

Accruals and deferred income
12,542
8,942

323,169
362,634


Page 7

 
KLIN PROPERTY LIVERPOOL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
1,199,095
1,048,575

Other loans
450,000
450,000

1,649,095
1,498,575


The following liabilities were secured:

2023
2022
£
£



Bank loans
1,199,095
1,048,575

1,199,095
1,048,575

Details of security provided:

The bank loans are secured via fixed and floating charges over the freehold investment property of the company.


9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,648
10,648

Amounts falling due 1-2 years

Bank loans
10,648
10,648

Amounts falling due 2-5 years

Bank loans
9,451
19,829

Other loans
450,000
450,000


459,451
469,829

Amounts falling due after more than 5 years

Bank loans
1,178,996
1,018,097

1,659,743
1,509,222


Page 8

 
KLIN PROPERTY LIVERPOOL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
161,618
217,657

Financial assets measured at amortised cost
504,971
446,406

666,589
664,063


Financial liabilities


Financial liabilities measured at amortised cost
1,957,489
1,846,436


Financial assets measured at fair value through profit or loss comprise of cash at bank.


Financial assets measured at amortised cost comprise of other debtors.


Financial liabilities measured at amortised cost comprise of other creditors, accruals, bank overdrafts and bank loans.


11.


Deferred taxation




2023


£






Charged to profit or loss
(219,301)



At end of year
(219,301)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Unrealised capital gains/(losses)
(246,433)
-

Losses and other deductions
27,132
-

(219,301)
-

Page 9

 
KLIN PROPERTY LIVERPOOL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

12.


Reserves

Investment property revaluation reserve

Relates to the revaluation of the freehold property in current and prior periods.

Profit and loss account

Retained earnings includes all current and prior period retained profits and losses.


13.


Related party transactions

Included within other debtors and other creditors are the following balances owed from / (to) related parties:


2023
2022
£
£

Klin Property Limited
(211,204)
(243,704)
Strange Glue (Exeter) Ltd
(74,000)
(74,000)
Klin Property London Ltd
473,773
445,209
Klin Property Wapping Ltd
1,197
1,197
Compound Digital Ltd
30,000
-

Klin Property Limited, Strange Glue (Exeter) Ltd, Klin Property London Ltd, Klin Property Wapping Ltd and Compound Digital Ltd are connected companies.
The loans are repayable on demand and no interest has been charged. 


14.


Ultimate controlling party

The ultimate controlling party is R Klin.

 
Page 10