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REGISTERED NUMBER: 09654524 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2023

FOR

K.G. PROPERTY LIMITED

K.G. PROPERTY LIMITED (REGISTERED NUMBER: 09654524)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


K.G. PROPERTY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2023







DIRECTORS: Mr R A Broad
Mr G White





REGISTERED OFFICE: 139-141 Watling Street
Gillingham
Kent
ME7 2YY





REGISTERED NUMBER: 09654524 (England and Wales)





ACCOUNTANTS: Stephen Hill Partnership Limited
139-141 Watling Street
Gillingham
Kent
ME7 2YY

K.G. PROPERTY LIMITED (REGISTERED NUMBER: 09654524)

BALANCE SHEET
30TH JUNE 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 3,125,000 450,000

CURRENT ASSETS
Stocks 2,808,780 3,341,432
Debtors 5 31,476 14,753
Cash at bank 160,230 4,867
3,000,486 3,361,052
CREDITORS
Amounts falling due within one year 6 3,983,227 3,011,664
NET CURRENT (LIABILITIES)/ASSETS (982,741 ) 349,388
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,142,259

799,388

CREDITORS
Amounts falling due after more than one
year

7

(2,075,429

)

(1,037,472

)

PROVISIONS FOR LIABILITIES (92,001 ) -
NET LIABILITIES (25,171 ) (238,084 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (25,271 ) (238,184 )
SHAREHOLDERS' FUNDS (25,171 ) (238,084 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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.

K.G. PROPERTY LIMITED (REGISTERED NUMBER: 09654524)

BALANCE SHEET - continued
30TH JUNE 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 7th March 2024 and were signed on its behalf by:





Mr G White - Director


K.G. PROPERTY LIMITED (REGISTERED NUMBER: 09654524)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023

1. STATUTORY INFORMATION

K.G. Property 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.

The accounts have been prepared on a going concern basis. This basis may not be appropriate because the company has, at 30 June 2023, net liabilities of £25,171 (2022: £238,084). The validity of the going concern basis is dependent upon the continued support of the directors.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts rebates and value added tax.

Rental income from operating leases is recognised evenly over the term of the relevant lease.

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.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, and loans from banks.

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.

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.

K.G. PROPERTY LIMITED (REGISTERED NUMBER: 09654524)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions.

Creditors
Short term creditors are measured at the transaction price.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st July 2022 450,000
Additions 2,306,995
Revaluations 368,005
At 30th June 2023 3,125,000
NET BOOK VALUE
At 30th June 2023 3,125,000
At 30th June 2022 450,000

Fair value at 30th June 2023 is represented by:
£   
Valuation in 2023 1,775,000
Valuation in 2023 425,000
Valuation in 2023 475,000
Valuation in 2023 450,000
3,125,000

If investment property had not been revalued they would have been included at the following historical cost:

30.6.23 30.6.22
£    £   
Cost 2,306,995 -
Aggregate depreciation (368,005 ) -

Investment property was valued on an open market basis on 30th June 2023 by the client .

K.G. PROPERTY LIMITED (REGISTERED NUMBER: 09654524)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Directors' current accounts 7,018 7,018
VAT 11,646 7,735
Prepayments 12,812 -
31,476 14,753

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade creditors - 480
Taxation and social security 3,214 3,901
Other creditors 3,980,013 3,007,283
3,983,227 3,011,664

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Other creditors 2,075,429 1,037,472

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 212,560 212,656
Other loans more 5yrs non-inst 239,080 238,545
Other loans more 5yrs non-inst 1,061,193 -
1,512,833 451,201

Repayable by instalments
Other loans more 5yrs instal 562,596 586,271

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30th June 2023 and 30th June 2022:

30.6.23 30.6.22
£    £   
Mr R A Broad
Balance outstanding at start of year 3,509 3,509
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,509 3,509

K.G. PROPERTY LIMITED (REGISTERED NUMBER: 09654524)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr G White
Balance outstanding at start of year 3,509 3,509
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,509 3,509