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Registered number: 10071990
KKC Properties Ltd
Financial Statements
For The Year Ended 31 October 2023
Stubbs Parkin
55 Hoghton Street
Southport
Merseyside
PR9 0PG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 10071990
31 October 2023 31 October 2022
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 499,449 411,833
499,449 411,833
CURRENT ASSETS
Stocks 5 - 10,752
Cash at bank and in hand 100 100
100 10,852
Creditors: Amounts Falling Due Within One Year 6 (479,797 ) (434,539 )
NET CURRENT ASSETS (LIABILITIES) (479,697 ) (423,687 )
TOTAL ASSETS LESS CURRENT LIABILITIES 19,752 (11,854 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (9,745 ) -
NET ASSETS/(LIABILITIES) 10,007 (11,854 )
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 9,907 (11,954 )
SHAREHOLDERS' FUNDS 10,007 (11,854)
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Page 2
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr N J Quinn
Director
30th July 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
KKC Properties Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10071990 . The registered office is 55 Hoghton Street, Southport, Merseyside, PR9 0PG. The financial statements are presented in the company's presentation currency of GBP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities
2.3. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
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4. Investment Property
31 October 2023
£
Fair Value
As at 1 November 2022 411,833
Additions 36,325
Revaluations 51,291
As at 31 October 2023 499,449
5. Stocks
31 October 2023 31 October 2022
£ £
Work in progress - 10,752
6. Creditors: Amounts Falling Due Within One Year
31 October 2023 31 October 2022
£ £
Trade creditors 1 -
Amounts owed to participating interests 478,826 434,539
Other creditors 970 -
479,797 434,539
7. Share Capital
31 October 2023 31 October 2022
£ £
Allotted, Called up and fully paid 100 100
8. Related Party Transactions
Summary of transactions with other related parties
KKC Facilities Management UK Limited
Loans have been provided from the company to facilite the purchase of investment properties and no interest is been charged on the amounts.
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