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Registered Number: 04165779
England and Wales

 

 

 

KIPCRESS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 March 2023

End date: 29 February 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 770,621    771,330 
770,621    771,330 
Current assets      
Debtors 107,580    15,642 
Cash at bank and in hand 2,915    73,290 
110,495    88,932 
Creditors: amount falling due within one year (143,906)   (158,391)
Net current assets (33,411)   (69,459)
 
Total assets less current liabilities 737,210    701,871 
Provisions for liabilities (99,104)   (99,104)
Net assets 638,106    602,767 
 

Capital and reserves
     
Called up share capital 100    100 
Fair Value Reserves 4 521,600    521,600 
Profit and loss account 116,406    81,067 
Shareholders' funds 638,106    602,767 
 


For the year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 19 August 2024 and were signed on its behalf by:


-------------------------------
Yunus Mohmed PATEL
Director
1
General Information
KIPCRESS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 04165779, registration address 41 HIGHWOOD GARDENS, ILFORD, ESSEX, IG5 0AZ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the  rent receivable during the year.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 15% Reducing Balance
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 0).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Investment properties   Total
  £   £   £
At 01 March 2023 11,605    766,600    778,205 
Additions    
Disposals    
At 29 February 2024 11,605    766,600    778,205 
Depreciation
At 01 March 2023 6,875      6,875 
Charge for year 709      709 
On disposals    
At 29 February 2024 7,584      7,584 
Net book values
Closing balance as at 29 February 2024 4,021    766,600    770,621 
Opening balance as at 01 March 2023 4,730    766,600    771,330 


4.

Fair Value Reserves

2024
£
  2023
£
Fair Value Reserve b/fwd 521,600    521,600 
521,600    521,600 

2