Kinoulton Properties Limited |
Registered number: |
03601608 |
Balance Sheet |
as at 30 April 2024 |
|
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
325,000 |
|
|
325,000 |
|
Current assets |
Debtors |
4 |
|
24 |
|
|
16 |
Cash at bank and in hand |
|
|
10,150 |
|
|
7,771 |
|
|
|
10,174 |
|
|
7,787 |
|
Creditors: amounts falling due within one year |
5 |
|
(15,045) |
|
|
(14,754) |
|
Net current liabilities |
|
|
|
(4,871) |
|
|
(6,967) |
|
Total assets less current liabilities |
|
|
|
320,129 |
|
|
318,033 |
|
|
Provisions for liabilities |
|
|
|
(15,115) |
|
|
(15,115) |
|
|
Net assets |
|
|
|
305,014 |
|
|
302,918 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
7,500 |
|
|
7,500 |
Revaluation reserve |
6 |
|
|
166,012 |
|
|
166,012 |
Profit and loss account |
|
|
|
131,502 |
|
|
129,406 |
|
Shareholder's funds |
|
|
|
305,014 |
|
|
302,918 |
|
|
|
|
|
|
|
|
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
B Kibble |
Director |
Approved by the board on 26 July 2024 |
|
Kinoulton Properties Limited |
Notes to the Accounts |
for the year ended 30 April 2024 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover represents rental income received during the year. Rentals received under operating leases are credited to revenue on a straight line basis. |
|
|
Investment property |
|
The investment property is revalued annually by the directors at fair value. Any surplus or deficit on revaluation is recognised in the profit or loss in the year they occur and are transferred to the revaluation reserve. No depreciation is provided in respect of the investment property. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
2 |
Employees |
2024 |
|
2023 |
Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Investment property |
£ |
|
Cost |
|
At 1 May 2023 |
325,000 |
|
At 30 April 2024 |
325,000 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 30 April 2024 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 April 2024 |
325,000 |
|
At 30 April 2023 |
325,000 |
|
|
|
|
|
|
|
|
|
|
|
Investment property: |
2024 |
|
2023 |
£ |
£ |
|
Historical cost |
143,873 |
|
143,873 |
|
Cumulative depreciation based on historical cost |
- |
|
- |
|
|
|
|
|
|
143,873 |
|
143,873 |
|
The investment property has been valued by the director at £325,000 (2023 - £325,000), this is considered to be the fair value. |
|
|
4 |
Debtors |
2024 |
|
2023 |
£ |
£ |
|
|
Other debtors |
24 |
|
16 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Taxation and social security costs |
3,417 |
|
3,447 |
|
Other creditors |
11,628 |
|
11,307 |
|
|
|
|
|
|
15,045 |
|
14,754 |
|
|
|
|
|
|
|
|
|
|
6 |
Revaluation reserve |
2024 |
|
2023 |
£ |
£ |
|
|
At 1 May 2023 |
166,012 |
|
166,012 |
|
|
At 30 April 2024 |
166,012 |
|
166,012 |
|
|
|
|
|
|
|
|
|
|
7 |
Other information |
|
|
Kinoulton Properties Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Portland House |
|
21 Narborough Road |
|
Cosby |
|
Leicester |
|
LE9 1TA |