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Registered number: 08259210









KIDDERPORE PROPERTIES LIMITED








FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
KIDDERPORE PROPERTIES LIMITED
REGISTERED NUMBER: 08259210

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
2,648,925
2,630,000

  
2,648,925
2,630,000

Current assets
  

Debtors: amounts falling due within one year
 5 
17,475
13,684

Cash at bank and in hand
  
11,830
2,818

  
29,305
16,502

Creditors: amounts falling due within one year
 6 
(2,365,430)
(1,420,785)

Net current liabilities
  
 
 
(2,336,125)
 
 
(1,404,283)

Total assets less current liabilities
  
312,800
1,225,717

Creditors: amounts falling due after more than one year
 7 
(909,286)
(1,741,567)

  

Net liabilities
  
(596,486)
(515,850)


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
(596,488)
(515,852)

  
(596,486)
(515,850)


Page 1

 
KIDDERPORE PROPERTIES LIMITED
REGISTERED NUMBER: 08259210
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
S Koseff
Director

Date: 3 August 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
KIDDERPORE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Kidderpore Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is Aston House, Cornwall Avenue, London, N3 1LF. The company registration number is 08259210.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

Whilst the company is in a net liabilities position, it retains the support of its shareholders and as such the director considers it appropriate to prepare the accounts on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
KIDDERPORE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers 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. Changes in fair value are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 4

 
KIDDERPORE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Investment property


Long term leasehold investment property

£



Valuation


At 1 January 2023
2,630,000


Additions at cost
18,925



At 31 December 2023
2,648,925

The 2023 valuations were made by the director, on an open market value for existing use basis.







5.


Debtors

2023
2022
£
£


Other debtors
8,505
4,714

Deferred taxation
8,970
8,970

17,475
13,684



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other creditors
2,362,230
1,420,785

Accruals and deferred income
3,200
-

2,365,430
1,420,785


Page 5

 
KIDDERPORE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
909,286
1,741,567

909,286
1,741,567


The following liabilities were secured:

2023
2022
£
£



Bank loan
909,286
1,741,567

909,286
1,741,567

Details of security provided:

The bank loans are secured on the investment property and other assets of the company.


8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£



Bank loans
909,286
1,741,567

909,286
1,741,567


Page 6

 
KIDDERPORE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Deferred taxation




2023


£






At beginning of year
8,970



At end of year
8,970

The deferred tax asset is made up as follows:

2023
2022
£
£


Tax losses carried forward
8,970
8,970

8,970
8,970


10.


Related party transactions

Included in creditors falling due within one year is an amount of £5,088 (2022: £5,088) owed to Aedes Investments Ltd, a company with common director. 
Included in creditors falling due within one year is an amount of £1,225 (2022: £1,225) owed to Aedes Investments (Valentine) Limited, a company with common director. 
The above loans are unsecured, interest free and repayable on demand.

 
Page 7