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REGISTERED NUMBER: 13049488 (England and Wales)


















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Kachina Properties Ltd

Kachina Properties Ltd (Registered number: 13049488)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Kachina Properties Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Miss D Galbraith
A N Galbraith





REGISTERED OFFICE: 128 City Road
London
EC1V 2NX





REGISTERED NUMBER: 13049488 (England and Wales)





ACCOUNTANTS: Macleod Fulton
Scottcourt House
West Princes Street
Helensburgh
Argyll & Bute
G84 8BP

Kachina Properties Ltd (Registered number: 13049488)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 973,059 976,144

CURRENT ASSETS
Debtors 5 393,494 398,451
Cash at bank 1,934 44,201
395,428 442,652
CREDITORS
Amounts falling due within one year 6 1,392,465 1,139,278
NET CURRENT LIABILITIES (997,037 ) (696,626 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(23,978

)

279,518

CREDITORS
Amounts falling due after more than one
year

7

-

311,610
NET LIABILITIES (23,978 ) (32,092 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (24,078 ) (32,192 )
(23,978 ) (32,092 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

Kachina Properties Ltd (Registered number: 13049488)

Balance Sheet - continued
31 December 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 Board of Directors and authorised for issue on 20 May 2024 and were signed on its behalf by:





A N Galbraith - Director


Kachina Properties Ltd (Registered number: 13049488)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Kachina Properties Ltd 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.

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 each asset over its estimated useful life.
Freehold property - not provided
Long leasehold - not provided
Fixtures and fittings - 20% on reducing balance

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.

Going concern
The status of the company as a going concern is dependent on the ongoing support of the company director.

3. EMPLOYEES AND DIRECTORS

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

Kachina Properties Ltd (Registered number: 13049488)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Long and
property leasehold fittings Totals
£    £    £    £   
COST
At 1 January 2023
and 31 December 2023 490,720 470,000 24,517 985,237
DEPRECIATION
At 1 January 2023 - - 9,093 9,093
Charge for year - - 3,085 3,085
At 31 December 2023 - - 12,178 12,178
NET BOOK VALUE
At 31 December 2023 490,720 470,000 12,339 973,059
At 31 December 2022 490,720 470,000 15,424 976,144

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 393,494 398,451

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Taxation and social security 2,256 4,972
Other creditors 1,390,209 1,134,306
1,392,465 1,139,278

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans - 311,610

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst - 311,610

8. SECURED DEBTS

The fixed charge registered by Foundation Home Loans on 18th June 2021 relating to the leasehold property: Flat 99 North House, Gillingham Gate Road, Chatham, Kent ME4 4RZ was satisfied on 15 November 2023.

9. CONTINGENT LIABILITIES

As at the period ended 31 December 2023 the company had no contingent liabilities. (2022 - £nil).

Kachina Properties Ltd (Registered number: 13049488)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. CAPITAL COMMITMENTS

As at the period ended 31 December 2023 the company had capital commitments of £1,399,902. (2022 - £1,399,902).

11. RELATED PARTY DISCLOSURES

As at 31 December 2023 included in other creditors is a balance due to Mr A Galbraith, director, amounting to £148,500. (2022 - £24,797). The balance has no fixed repayment date and no interest is charged thereon.

As at 31 December 2023 included in other creditors is a balance due to Kachina Investments Ltd, a company in which Miss D Galbraith and A N Galbraith are directors.