REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 June 2024 |
for |
Kent Properties Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 June 2024 |
for |
Kent Properties Limited |
Kent Properties Limited (Registered number: 03589348) |
Contents of the Financial Statements |
for the Year Ended 30 June 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Kent Properties Limited |
Company Information |
for the Year Ended 30 June 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
19 Victoria Terrace |
Hove |
East Sussex |
BN3 2WB |
Kent Properties Limited (Registered number: 03589348) |
Balance Sheet |
30 June 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
PROVISIONS FOR LIABILITIES |
NET (LIABILITIES)/ASSETS | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
The directors acknowledge their 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Kent Properties Limited (Registered number: 03589348) |
Notes to the Financial Statements |
for the Year Ended 30 June 2024 |
1. | STATUTORY INFORMATION |
Kent Properties Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - |
Kent Properties Limited (Registered number: 03589348) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 July 2023 |
and 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
MSW loan account | (125,800 | ) | (159,179 | ) |
Ordnance Wharf | 322,674 | 302,674 |
Quayside Ltd | (18,766 | ) | 732,636 |
Abbey Lane, Faversham | 3,868 | 3,868 |
Creekside Developments - Loan | 1,051,895 | 1,044,360 |
Abbey Park | 630 | 630 |
Papa Bianco Limited | 163 | - |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Tax |
VAT | 2,257 | 1,165 |
Other creditors |
Quayside Impairment | 286,992 | 286,992 |
Rent deposits | 27,302 | 27,302 |
Abbey Road Loan | 610,278 | 610,278 |
Papa Bianco | (163 | ) | (716 | ) |
Standard Quay Tearoom Ltd | 100,000 | - |
Directors' current accounts | 171,653 | 161,929 |
Accruals and deferred income |
Accrued expenses |
Kent Properties Limited (Registered number: 03589348) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
8. | RELATED PARTY DISCLOSURES |
The company has entered into transactions with Abbey Road Developments (Kent) Limited, Ordnance Wharf Limited, Quayside Properties (Faversham) Limited, The Duke William Limited and Abbey Lane (Faversham) Management Company limited which are companies owned by the directors. The company provides loan finance, management and other services to these companies. The balances outstanding at the year-end were: |
Quayside Properties (Faversham) Limited - £18,667 (2023 £732,636 - receivable) |
Provision for Impairment - £-286,992 (2023 £-286,992) |
Abbey Road Developments (Kent) Limited was owed - £-610,278 (2023 £-610,278) |
Ordnance Wharf Limited - Receivable £322,674 (2023 £302,674) |
Abbey Lane (Faversham) Management Company Limited - Receivable £3,868 (2023 £3,868) |
Abbey Park (Faversham) Limited - £630 (2023 £630) |
Creekside Developments (Faversham) Ltd - Receivable £1,051,895 (2023 £1,044,360) |
The Red Lion Partnership £23,830 (2023 £23,831) |
Nova (Kent) Ltd - Receivable £12,510 (2023: £3,015) |
Standard Quay Tearoom Ltd £100,000 |
MSW Leasing £125,800 ( 2023 - £159,179) |
Faversham Furniture Barn £100,000 |
New Creekside Properties Kent Ltd - receivable £2,000 |
The balances are not repayable until at least 12 months from the date of approval of these accounts and no interest is payable on them. |
9. | ULTIMATE CONTROLLING PARTY |
The controlling party is M S White. |