Registered number: 11774612 | ||||||||
FOR THE YEAR ENDED 31/12/2023 | ||||||||
Prepared By: | ||||||||
Berry Kearsley Stockwell Ltd | ||||||||
Accountants | ||||||||
Sterling House | ||||||||
31-32 High Street | ||||||||
Wellingborough | ||||||||
Northants | ||||||||
NN8 4HL |
KRG Lettings Limited | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/12/2023 | ||||||||
DIRECTORS | ||||||||
REGISTERED OFFICE | ||||||||
Northants | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 11774612 | ||||||||
ACCOUNTANTS | ||||||||
Berry Kearsley Stockwell Ltd | ||||||||
Accountants | ||||||||
Sterling House | ||||||||
31-32 High Street | ||||||||
Wellingborough | ||||||||
Northants | ||||||||
NN8 4HL |
KRG Lettings Limited | ||||||||
ACCOUNTS | ||||||||
FOR THEYEARENDED31/12/2023 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 5 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
KRG Lettings Limited | ||||||||
BALANCE SHEET AT | ||||||||||
2023 | 2022 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 3 | |||||||||
CURRENT ASSETS | ||||||||||
Debtors | 5 | |||||||||
Cash at bank and in hand | ||||||||||
29,317 | 16,574 | |||||||||
CREDITORS: Amounts falling due within one year | 6 | |||||||||
NET CURRENT LIABILITIES | ( | (115,248) | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
CREDITORS: Amounts falling due after more than one year | 7 | 586,721 | 586,649 | |||||||
PROVISIONS FOR LIABILITIES AND CHARGES | 9 | |||||||||
NET ASSETS | ||||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 10 | |||||||||
Fair value reserve | 1c,11 | 56,455 | 88,855 | |||||||
Profit and loss account | 19,916 | 8,403 | ||||||||
SHAREHOLDERS' FUNDS | ||||||||||
KRG Lettings Limited | ||||||||
BALANCE SHEET AT | ||||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
............................. | ||||||||||
Mrs K Gokani | ||||||||||
KRG Lettings Limited | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31/12/2023 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Investment Properties | ||||||||
Investment properties are included in the financial statements at open market value. No depreciation is provided on such property in compliance with the Financial Reporting Standard for Smaller Entities. This departure from Companies Act requirements is necessary to show a true and fair view. |
1c. Revaluation Reserve | ||||||||
Surpluses or deficits arising on the revaluation of individual fixed assets other than investment properties are credited or debited to a non-distributible reserve known as the fair value reserve (see also note11). | ||||||||
Revaluation deficits in excess of the amount of prior revaluation surpluses on the same asset are charged to the profit and loss account. |
2. EMPLOYEES | ||||||
2023 | 2022 | |||||
No. | No. | |||||
Average number of employees | - | |||||
3. TANGIBLE FIXED ASSETS |
Cost |
At 31/12/2023 |
Depreciation |
At 31/12/2023 |
Net Book Amounts |
At 31/12/2023 |
KRG Lettings Limited | ||||||||
4. INVESTMENT PROPERTIES | ||||||||
Investment | ||||||||
Properties | Total | |||||||
£ | £ | |||||||
Fair value | ||||||||
At 01/01/2023 | 820,000 | 820,000 | ||||||
Revaluation | (40,000) | (40,000) | ||||||
At 31/12/2023 | 780,000 | 780,000 | ||||||
The investment properties held by the company were valued at open market value at the 31st December 2023, by a director of the company. Open market value was considered to be the fair value of the properties. | ||||||||
5. DEBTORS | 2023 | 2022 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 563 | - | ||||||
Prepayments | 482 | 441 | ||||||
1,045 | 441 | |||||||
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
UK corporation tax | 2,701 | 1,573 | ||||||
Directors current account | 129,577 | 129,577 | ||||||
Accruals | 702 | 672 | ||||||
132,980 | 131,822 | |||||||
7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Bank loans (secured) >1yr | 435,496 | 435,496 | ||||||
Intercompany loan >1yr | 151,225 | 151,153 | ||||||
586,721 | 586,649 | |||||||
KRG Lettings Limited | ||||||||
8. SECURED CREDITORS | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Amount of bank loans and overdrafts which are secured | 435,496 | 435,496 | ||||||
The secured bank loans owed by the Company, after one year, as at the 31st December 2023 were £435,496 (2022: £435,496). The Mortgage Works (UK) PLC has a first legal mortgage and charge over two of the investment properties owned by the Company. Charter Court Financial Services Limited has a charge over one of the investement properties owned by the Company. | ||||||||
9. PROVISIONS FOR LIABILITIES | 2023 | 2022 | ||||||
£ | £ | |||||||
Deferred taxation | 13,243 | 20,843 | ||||||
13,243 | 20,843 | |||||||
10. SHARE CAPITAL | 2023 | 2022 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
2 | 2 | |||||||
2 | 2 | |||||||
11. REVALUATION RESERVE | 2023 | 2022 | ||||||
£ | £ | |||||||
Fair value reserve | 56,455 | 88,855 | ||||||
56,455 | 88,855 | |||||||