Company No:
Contents
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Investment property | 4 |
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624,839 | 624,839 | |||
Current assets | ||||
Debtors | 5 |
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Cash at bank and in hand |
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17,092 | 21,337 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current liabilities | (365,780) | (362,197) | ||
Total assets less current liabilities | 259,059 | 262,642 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital | 7 |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of KDKS Properties Ltd (registered number:
K A Seaborne
Director |
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.
KDKS Properties Ltd (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 Exonia, Widemouth Bay, Bude, EX23 0DE, 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 £.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net assets of £259,059. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
The Company recognises revenue based on its value of the service provided to date.
Office equipment |
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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 Profit and Loss Account as described below.
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.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Office equipment | Total | ||
£ | £ | ||
Cost | |||
At 01 December 2022 |
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At 30 November 2023 |
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Accumulated depreciation | |||
At 01 December 2022 |
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At 30 November 2023 |
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Net book value | |||
At 30 November 2023 |
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At 30 November 2022 |
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Investment property | |
£ | |
Valuation | |
As at 01 December 2022 |
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As at 30 November 2023 |
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Valuation
The investment property was valued on 30 November 2023 by the directors. The basis of this valuation was that in the directors opinion the value of the property had not changed since the previous balance sheet date. There has been no valuation of investment property by an independent valuer.
Historic cost
If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:
2023 | 2022 | ||
£ | £ | ||
Historic cost | 624,839 | 624,839 |
2023 | 2022 | ||
£ | £ | ||
Other debtors |
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2023 | 2022 | ||
£ | £ | ||
Trade creditors |
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Amounts owed to related parties |
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Amounts owed to directors |
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Accruals |
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2023 | 2022 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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Transactions with the entity's directors
At the year end the Company owed directors £348,896 (2022 - £360,675). This loan is interest free and has no fixed date of repayment.
Other related party transactions
2023 | 2022 | ||
£ | £ | ||
Sian Marie Hotel Limited | 26,313 | 19,097 |
The directors of the Company are also directors of Sian Marie Hotel Limited. The above balance remained due to Sian Marie Hotel Limited at the year end. This loan is interest free and has no fixed date of repayment.