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31/12/2022
2022-12-31
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No description of principal activities is disclosed
2022-01-01
Sage Accounts Production 21.0 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
13070601
2022-01-01
2022-12-31
13070601
2022-12-31
13070601
2021-12-31
13070601
bus:OrdinaryShareClass1
2022-01-01
2022-12-31
13070601
bus:Director1
2022-01-01
2022-12-31
13070601
core:LandBuildings
core:OwnedOrFreeholdAssets
2022-12-31
13070601
core:WithinOneYear
2022-12-31
13070601
core:WithinOneYear
2021-12-31
13070601
core:AfterOneYear
2022-12-31
13070601
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2021-12-31
13070601
core:ShareCapital
2022-12-31
13070601
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2021-12-31
13070601
core:RetainedEarningsAccumulatedLosses
2022-12-31
13070601
core:RetainedEarningsAccumulatedLosses
2021-12-31
13070601
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core:ShareCapital
2022-12-31
13070601
bus:OrdinaryShareClass1
core:ShareCapital
2021-12-31
13070601
core:LandBuildings
core:OwnedOrFreeholdAssets
2021-12-31
13070601
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2022-01-01
2022-12-31
13070601
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2022-01-01
2022-12-31
13070601
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2022-01-01
2022-12-31
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2022-01-01
2022-12-31
13070601
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2022-01-01
2022-12-31
13070601
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core:OwnedOrFreeholdAssets
2022-01-01
2022-12-31
13070601
1
2022-01-01
2022-12-31
Company registration number:
13070601
Kirk House Ltd
Unaudited filleted financial statements
31 December 2022
Kirk House Ltd
Contents
Statement of financial position
Notes to the financial statements
Kirk House Ltd
Statement of financial position
31 December 2022
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31/12/22 |
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31/12/21 |
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Note |
£ |
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£ |
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£ |
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£ |
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|
|
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|
|
|
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Fixed assets |
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|
|
|
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Tangible assets |
|
5 |
882,000 |
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|
882,000 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
882,000 |
|
|
|
882,000 |
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|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
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|
|
within one year |
|
6 |
(
124,902) |
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|
(
87,894) |
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|
|
|
_______ |
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_______ |
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Net current liabilities |
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|
(
124,902) |
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|
(
87,894) |
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|
|
|
|
_______ |
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|
|
_______ |
Total assets less current liabilities |
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|
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757,098 |
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794,106 |
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Creditors: amounts falling due |
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|
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after more than one year |
|
7 |
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|
(
761,500) |
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|
(
797,500) |
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|
|
|
|
_______ |
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|
_______ |
Net liabilities |
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|
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|
(
4,402) |
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(
3,394) |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
|
8 |
|
|
1 |
|
|
|
1 |
Profit and loss account |
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|
|
|
(
4,403) |
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|
(
3,395) |
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|
|
|
_______ |
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|
_______ |
Shareholder deficit |
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|
|
(
4,402) |
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|
(
3,394) |
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|
|
|
_______ |
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_______ |
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For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
23 April 2024
, and are signed on behalf of the board by:
Mr Elliott Davidson
Director
Company registration number:
13070601
Kirk House Ltd
Notes to the financial statements
Year ended 31 December 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 32 St John Street, Mansfield, Nottinghamshire, NG18 1QJ.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
Company law requires directors to consider whether it is appropriate to prepare the financial statements on a going concern basis. Accordingly, the director has considered financial forecasts for a period of at least 12 months from the date of approving these accounts and which take reasonable account of the potential impact of the economic conditions, in order to determine whether the available facilities are sufficient to support the company's projected financial requirements and are sufficient to meet the liabilities of the company as they fall due.The Director is of the opinion that the company has adequate resources to continue in operational existence for the foreseeable future. The Director has therefore adopted the going concern basis in preparing these financial statements.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Freehold property |
- |
No depreciation |
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|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2021: Nil).
5.
Tangible assets
|
|
Freehold property |
Total |
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£ |
£ |
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Cost |
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At 1 January 2022 and 31 December 2022 |
882,000 |
882,000 |
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|
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|
_______ |
_______ |
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Depreciation |
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At 1 January 2022 and 31 December 2022 |
- |
- |
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_______ |
_______ |
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Carrying amount |
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At 31 December 2022 |
882,000 |
882,000 |
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_______ |
_______ |
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At 31 December 2021 |
882,000 |
882,000 |
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_______ |
_______ |
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6.
Creditors: amounts falling due within one year
|
|
|
31/12/22 |
31/12/21 |
|
|
|
£ |
£ |
|
Other creditors |
|
124,902 |
87,894 |
|
|
|
_______ |
_______ |
|
|
|
|
|
7.
Creditors: amounts falling due after more than one year
|
|
|
31/12/22 |
31/12/21 |
|
|
|
£ |
£ |
|
Other creditors |
|
761,500 |
797,500 |
|
|
|
_______ |
_______ |
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Other creditors represent deferred consideration on the purchase of freehold commercial property which is payable in full within 5 years.
8.
Called up share capital
Issued, called up and fully paid
|
|
|
31/12/22 |
|
|
|
31/12/21 |
|
|
|
|
|
No |
|
£ |
|
No |
|
£ |
|
Ordinary shares of £
1.00 each |
|
1 |
|
1 |
|
1 |
|
1 |
|
|
|
_______ |
|
_______ |
|
_______ |
|
_______ |
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9.
Controlling party
THe company is controlled by the director,
Mr Elliott Davidson
, by virtue of his majority shareholding.