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Company No: 10485879 (England and Wales)

KHE PROPERTIES LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

KHE PROPERTIES LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

KHE PROPERTIES LIMITED

BALANCE SHEET

As at 31 December 2023
KHE PROPERTIES LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 573,409 581,053
573,409 581,053
Current assets
Debtors 4 2,213 500
Cash at bank and in hand 220,821 217,639
223,034 218,139
Creditors: amounts falling due within one year 5 ( 5,487) ( 15,554)
Net current assets 217,547 202,585
Total assets less current liabilities 790,956 783,638
Net assets 790,956 783,638
Capital and reserves
Called-up share capital 500 500
Profit and loss account 790,456 783,138
Total shareholders' funds 790,956 783,638

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of KHE Properties Limited (registered number: 10485879) were approved and authorised for issue by the Board of Directors on 28 August 2024. They were signed on its behalf by:

B J Templeman
Director
KHE PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
KHE PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

KHE Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of consideration received or receivable for the rent received.

The company recognises revenue when: the amount of revenue can be reliably measured; is it probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a basis over its expected useful life, as follows:

Land and buildings 40 years straight line
Fixtures and fittings 6.67 years straight line
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 1 1

3. Tangible assets

Land and buildings Fixtures and fittings Office equipment Total
£ £ £ £
Cost
At 01 January 2023 580,000 58,064 795 638,859
At 31 December 2023 580,000 58,064 795 638,859
Accumulated depreciation
At 01 January 2023 5,917 51,529 360 57,806
Charge for the financial year 1,000 6,535 109 7,644
At 31 December 2023 6,917 58,064 469 65,450
Net book value
At 31 December 2023 573,083 0 326 573,409
At 31 December 2022 574,083 6,535 435 581,053

4. Debtors

2023 2022
£ £
Other debtors 2,213 500

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 1,141 1,040
Other taxation and social security 2,954 3,615
Other creditors 1,392 10,899
5,487 15,554