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REGISTERED NUMBER: 11569978 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

KHC PROPERTY DEVELOPMENT LIMITED

KHC PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 11569978)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KHC PROPERTY DEVELOPMENT LIMITED

COMPANY INFORMATION
for the Year Ended 30 September 2023







DIRECTOR: K H Clarke





REGISTERED OFFICE: Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB





REGISTERED NUMBER: 11569978 (England and Wales)





ACCOUNTANTS: Fairhurst
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

KHC PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 11569978)

BALANCE SHEET
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 535 714
Investments 5 50 50
Investment property 6 1,412,798 1,180,000
1,413,383 1,180,764

CURRENT ASSETS
Debtors 7 100 100
Cash at bank - 3,859
100 3,959
CREDITORS
Amounts falling due within one year 8 91,031 132,513
NET CURRENT LIABILITIES (90,931 ) (128,554 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,322,452

1,052,210

CREDITORS
Amounts falling due after more than one
year

9

(993,107

)

(634,455

)

PROVISIONS FOR LIABILITIES (105,839 ) (105,839 )
NET ASSETS 223,506 311,916

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 223,406 311,816
223,506 311,916

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

KHC PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 11569978)

BALANCE SHEET - continued
30 September 2023


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 director and authorised for issue on 28 June 2024 and were signed by:





K H Clarke - Director


KHC PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 11569978)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

KHC Property Development 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 as modified by the revaluation of certain assets.

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 the cost less estimated residual value of each asset over its estimated useful life.

Investments in associates
Investments in associate undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

KHC PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 11569978)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2022
and 30 September 2023 892
DEPRECIATION
At 1 October 2022 178
Charge for year 179
At 30 September 2023 357
NET BOOK VALUE
At 30 September 2023 535
At 30 September 2022 714

5. FIXED ASSET INVESTMENTS

The investment relates to a 50% shareholding in Swinley Road Property Limited. This shareholding was valued at £250,000 at the 30 September 2022.

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022 1,180,000
Additions 232,798
At 30 September 2023 1,412,798
NET BOOK VALUE
At 30 September 2023 1,412,798
At 30 September 2022 1,180,000

Fair value at 30 September 2023 is represented by:
£   
Valuation in 2021 175,347
Valuation in 2022 502,955
Cost 734,496
1,412,798

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 100 100

KHC PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 11569978)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,746 -
Trade creditors 6,879 3,519
Taxation and social security 3,331 5,699
Other creditors 70,075 123,295
91,031 132,513

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 993,107 598,337
Other creditors - 36,118
993,107 634,455

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 975,607 598,337

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,003,107 598,337

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is K H Clarke.