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REGISTERED NUMBER: 03589348 (England and Wales)















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: Mrs N F White
M S White





SECRETARY: Mrs N F White





REGISTERED OFFICE: Mindora Heights
Mill Lane Harbledown
Canterbury
Kent
CT2 8NG





REGISTERED NUMBER: 03589348 (England and Wales)





ACCOUNTANTS: A.K & Co (Accountancy Services) Ltd
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 4 426,739 426,902

CURRENT ASSETS
Debtors 5 1,253,361 1,928,351
Cash at bank 270,302 10,329
1,523,663 1,938,680
CREDITORS
Amounts falling due within one year 6 2,009,308 1,689,960
NET CURRENT (LIABILITIES)/ASSETS (485,645 ) 248,720
TOTAL ASSETS LESS CURRENT
LIABILITIES

(58,906

)

675,622

PROVISIONS FOR LIABILITIES - 3,868
NET (LIABILITIES)/ASSETS (58,906 ) 671,754

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings (59,006 ) 671,654
SHAREHOLDERS' FUNDS (58,906 ) 671,754

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

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.

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 Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:



M S White - Director


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 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 50% on cost and 20% on cost
Fixtures and fittings - 33% on cost and 10% on cost
Motor vehicles - 50% on cost

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 - 2 ).

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 426,739 104,213 530,952
DEPRECIATION
At 1 July 2023 - 104,050 104,050
Charge for year - 163 163
At 30 June 2024 - 104,213 104,213
NET BOOK VALUE
At 30 June 2024 426,739 - 426,739
At 30 June 2023 426,739 163 426,902

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,876 347
Amounts owed by group undertakings 14,510 3,015
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 311 -
1,253,361 1,928,351

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 8,493 4,717
Amounts owed to group undertakings 100,000 -
Tax 6,656 -
VAT 2,257 1,165
Other creditors 640,376 542,829
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 54,899 55,464
Accrued expenses 565 -
2,009,308 1,689,960

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: £    £   
100 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.