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REGISTERED NUMBER: 05371625 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JULY 2023

FOR

KELRICK PROPERTIES LIMITED

KELRICK PROPERTIES LIMITED (REGISTERED NUMBER: 05371625)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

KELRICK PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2023







DIRECTORS: R A Lee
Mrs K Lee





REGISTERED OFFICE: 18 Gerrard Street
Ashton-in-Makerfield
Wigan
Lancashire
WN4 9AA





REGISTERED NUMBER: 05371625 (England and Wales)





ACCOUNTANTS: Hunter Healey Limited
Abacus House
450 Warrington Road
Culcheth
Warrington
Cheshire
WA3 5QX

KELRICK PROPERTIES LIMITED (REGISTERED NUMBER: 05371625)

BALANCE SHEET
31ST JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,358 4,044
Investments 5 2,000 2,000
4,358 6,044

CURRENT ASSETS
Debtors 6 98,586 124,502
Cash at bank and in hand 167,567 157,674
266,153 282,176
CREDITORS
Amounts falling due within one year 7 183,767 190,568
NET CURRENT ASSETS 82,386 91,608
TOTAL ASSETS LESS CURRENT
LIABILITIES

86,744

97,652

CREDITORS
Amounts falling due after more than
one year

8

19,313

28,333
NET ASSETS 67,431 69,319

KELRICK PROPERTIES LIMITED (REGISTERED NUMBER: 05371625)

BALANCE SHEET - continued
31ST JULY 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 66,431 68,319
SHAREHOLDERS' FUNDS 67,431 69,319

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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.

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 21st March 2024 and were signed on its behalf by:





R A Lee - Director


KELRICK PROPERTIES LIMITED (REGISTERED NUMBER: 05371625)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023

1. STATUTORY INFORMATION

Kelrick Properties 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

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.

Client monies
The company manages a portfolio of rental properties on behalf of its clients. Monies are collected on the clients behalf in respect of rents and security deposits. All such monies are held in designated client accounts on trust for the clients and the company's bankers have confirmed the balances on these accounts will not be used to offset any trading obligations of the company.
The amounts due to the clients are reflected as creditors due within one year.

Fixed asset investments
The fixed asset investment represents a fixed interest bond in 'OnTheMarket.com' a property sales and rental portal. The investment is in a mutual business and the capital value is guaranteed.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 15 ) .

KELRICK PROPERTIES LIMITED (REGISTERED NUMBER: 05371625)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2023

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1st August 2022 14,664 6,178 38,258 59,100
Additions - - 681 681
Disposals - (365 ) (24,858 ) (25,223 )
At 31st July 2023 14,664 5,813 14,081 34,558
DEPRECIATION
At 1st August 2022 14,664 6,134 34,258 55,056
Charge for year - 44 2,323 2,367
Eliminated on disposal - (365 ) (24,858 ) (25,223 )
At 31st July 2023 14,664 5,813 11,723 32,200
NET BOOK VALUE
At 31st July 2023 - - 2,358 2,358
At 31st July 2022 - 44 4,000 4,044

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1st August 2022
and 31st July 2023 2,000
NET BOOK VALUE
At 31st July 2023 2,000
At 31st July 2022 2,000

KELRICK PROPERTIES LIMITED (REGISTERED NUMBER: 05371625)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
2023 2022
£    £   
Trade debtors 6,766 10,666
Other debtors 91,820 113,836
98,586 124,502

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,787 10,000
Trade creditors 2,310 5,639
Taxation and social security 30,643 28,679
Other creditors 141,027 146,250
183,767 190,568

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE
THAN ONE YEAR
2023 2022
£    £   
Bank loans 19,313 28,333

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st July 2023 and 31st July 2022:

2023 2022
£    £   
R A Lee and Mrs K Lee
Balance outstanding at start of year 94,673 57,822
Amounts advanced 26,642 74,508
Amounts repaid (50,135 ) (37,657 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 71,180 94,673

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
KELRICK PROPERTIES LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kelrick Properties Limited for the year ended 31st July 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Kelrick Properties Limited, as a body, in accordance with the terms of our engagement letter dated 28th February 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Kelrick Properties Limited and state those matters that we have agreed to state to the Board of Directors of Kelrick Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kelrick Properties Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Kelrick Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Kelrick Properties Limited. You consider that Kelrick Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Kelrick Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Hunter Healey Limited
Abacus House
450 Warrington Road
Culcheth
Warrington
Cheshire

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
KELRICK PROPERTIES LIMITED

WA3 5QX


Date: .............................................