Caseware UK (AP4) 2023.0.135 2023.0.135 2023-03-312023-03-3112022-04-01falsecontinues to be that of development of building projects and equine.3truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10690439 2022-04-01 2023-03-31 10690439 2021-04-01 2022-03-31 10690439 2023-03-31 10690439 2022-03-31 10690439 c:Director1 2022-04-01 2023-03-31 10690439 d:MotorVehicles 2022-04-01 2023-03-31 10690439 d:MotorVehicles 2023-03-31 10690439 d:MotorVehicles 2022-03-31 10690439 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 10690439 d:CurrentFinancialInstruments 2023-03-31 10690439 d:CurrentFinancialInstruments 2022-03-31 10690439 d:Non-currentFinancialInstruments 2023-03-31 10690439 d:Non-currentFinancialInstruments 2022-03-31 10690439 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10690439 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 10690439 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 10690439 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 10690439 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 10690439 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 10690439 d:ShareCapital 2023-03-31 10690439 d:ShareCapital 2022-03-31 10690439 d:RetainedEarningsAccumulatedLosses 2023-03-31 10690439 d:RetainedEarningsAccumulatedLosses 2022-03-31 10690439 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 10690439 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 10690439 c:OrdinaryShareClass1 2022-04-01 2023-03-31 10690439 c:OrdinaryShareClass1 2023-03-31 10690439 c:OrdinaryShareClass1 2022-03-31 10690439 c:OrdinaryShareClass2 2022-04-01 2023-03-31 10690439 c:OrdinaryShareClass2 2023-03-31 10690439 c:OrdinaryShareClass2 2022-03-31 10690439 c:FRS102 2022-04-01 2023-03-31 10690439 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 10690439 c:FullAccounts 2022-04-01 2023-03-31 10690439 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10690439









KAR LAND AND DEVELOPMENTS LIMITED








FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
KAR LAND AND DEVELOPMENTS LIMITED
REGISTERED NUMBER: 10690439

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
12,621
3,534

  
12,621
3,534

Current assets
  

Stocks
  
78,882
18,637

Debtors: amounts falling due within one year
 5 
6,282
-

Cash at bank and in hand
  
9,371
13,603

  
94,535
32,240

Creditors: amounts falling due within one year
 6 
(36,054)
(33,176)

Net current assets/(liabilities)
  
 
 
58,481
 
 
(936)

Total assets less current liabilities
  
71,102
2,598

Creditors: amounts falling due after more than one year
  
(45,900)
-

Provisions for liabilities
  

Deferred tax
  
(2,400)
-

  
 
 
(2,400)
 
 
-

Net assets
  
22,802
2,598


Capital and reserves
  

Called up share capital 
 10 
2
2

Profit and loss account
  
22,800
2,596

  
22,802
2,598


Page 1

 
KAR LAND AND DEVELOPMENTS LIMITED
REGISTERED NUMBER: 10690439
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The directors consider 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 directors acknowledge their 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 profit and loss account 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 on 20 December 2023.




Jonathan Michael Regan
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
KAR LAND AND DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

The company is registered in England and Wales. The company's registered office is Stanley House, 27 Wellington Road, Bilston, West Midlands, WV14 6AH. The principal activity of the company continues to be that of property development and during the year the company was involved in equistrian activities.

2.Accounting policie

 
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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
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 Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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

 
KAR LAND AND DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policie (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 reporting 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 reporting 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 reporting date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
20%
Reduced balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
KAR LAND AND DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policie (continued)

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 1).

Page 5

 
KAR LAND AND DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Motor vehicles

£



Cost or valuation


At 1 April 2022
5,000


Additions
9,960



At 31 March 2023

14,960



Depreciation


At 1 April 2022
1,466


Charge for the year on owned assets
873



At 31 March 2023

2,339



Net book value



At 31 March 2023
12,621



At 31 March 2022
3,534

Page 6

 
KAR LAND AND DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Debtors

2023
2022
£
£


Other debtors
6,282
-

6,282
-



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
13,700
15,000

Corporation tax
3,303
-

Other taxation and social security
-
2,988

Other creditors
18,051
13,993

Accruals and deferred income
1,000
1,195

36,054
33,176



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other loans
45,900
-

45,900
-


Page 7

 
KAR LAND AND DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£


Amounts falling due 1-2 years

Other loans
45,900
-


45,900
-



45,900
-



9.


Deferred taxation




2023


£






Utilised in year
2,400



At end of year
2,400

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
2,400
-

2,400
-

Page 8

 
KAR LAND AND DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary 'A' Shares share of £1.00
1
1
1 (2022 - 1) Ordinary 'B' Shares share of £1.00
1
1

2

2



11.


Controlling party

The company is controlled by the director's.

 
Page 9