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Registration number: 13026923

Kirkham Property and Maintenance Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Kirkham Property and Maintenance Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Kirkham Property and Maintenance Ltd

Company Information

Directors

Scott Andrew Whittaker

Matthew Howard Whittaker

Registered office

Kirkham Farm
Brandy Carr Road
Kirkhamgate
Wakefield
West Yorkshire
WF2 0RS

Accountants

Fullertons Limited
Chartered Certified Accountants
Manchester House
50A Oxford Road
Guiseley
Leeds
LS20 8AB

 

Kirkham Property and Maintenance Ltd

(Registration number: 13026923)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

957,669

944,667

Current assets

 

Debtors

5

613

49

Cash at bank and in hand

 

18,924

17,777

 

19,537

17,826

Creditors: Amounts falling due within one year

6

(955,012)

(954,243)

Net current liabilities

 

(935,475)

(936,417)

Net assets

 

22,194

8,250

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

22,094

8,150

Shareholders' funds

 

22,194

8,250

For the financial year ending 30 November 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.

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 28 March 2024 and signed on its behalf by:
 

.........................................
Scott Andrew Whittaker
Director

 

Kirkham Property and Maintenance Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

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

The address of its registered office is:
Kirkham Farm
Brandy Carr Road
Kirkhamgate
Wakefield
West Yorkshire
WF2 0RS

These financial statements were authorised for issue by the Board on 28 March 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 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 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 rents receivable in the ordinary course of the company’s activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

 

Kirkham Property and Maintenance Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

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.

 

Kirkham Property and Maintenance Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

3

Staff numbers

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

4

Investment properties

2023
£

At 1 December

944,667

Additions

13,002

At 30 November

957,669

There has been no valuation of investment property by an independent valuer.

5

Debtors

Current

2023
£

2022
£

Prepayments

613

49

 

613

49

 

Kirkham Property and Maintenance Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

950,739

950,739

Taxation and social security

 

3,271

1,249

Accruals and deferred income

 

1,002

2,255

 

955,012

954,243

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

8

Loans and borrowings

Current loans and borrowings

2023
£

2022
£

Other borrowings

950,739

950,739

9

Related party transactions

Transactions with directors

 

Kirkham Property and Maintenance Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

2023

At 1 December 2022
£

At 30 November 2023
£

Scott Andrew Whittaker

Directors loan account

475,369

475,369

Matthew Howard Whittaker

Directors loan account

475,369

475,369

2022

At 1 December 2021
£

Repayments by director
£

At 30 November 2022
£

Scott Andrew Whittaker

Directors loan account

323,200

152,169

475,369

Matthew Howard Whittaker

Directors loan account

323,200

152,169

475,369