Registered number
08761980
K - WOOD PROPERTIES LTD
FINANCIAL STATEMENTS FOR THE YEAR ENDED
30 NOVEMBER 2023
DVL & CO ACCOUNTANTS
48 MELFORD ROAD
WALTHAMSTOW
LONDON E17 7EL
K - WOOD PROPERTIES LTD
Report and accounts
Contents
Page
Company information 1
Directors' report 2
Profit and loss account 3
Balance sheet 4
Statement of changes in equity 5
For directors informations only:
Detailed profit and loss accounts 8 - 9
Accountants 10
K - WOOD PROPERTIES LTD
Company Information
Directors
Mr D M Kiernan
Secretary
Mr D M Kiernan
Accountants
DVL & CO
48
Melford Road
London
United Kingdom
E17 7EL
Bankers
Lloyds Bank Plc
PO Box 1000
Andover
BX1 1LT
Registered office
48
Melford Road
London
E17 7EL
Registered number
08761980
K - WOOD PROPERTIES LTD
Registered number: 08761980
Directors' Report
The directors present their report and accounts for the year ended 30 November 2023.
Principal activities
The company's principal activity during the year was renting the leasehold commercial properties.
Directors
The following persons served as directors during the year:
Mr D M Kiernan
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 21 August 2024 and signed by its order.
Mr D M Kiernan
Director
Secretary
K - WOOD PROPERTIES LTD
Profit and Loss Account
for the year ended 30 November 2023
2023 2022
£ £
Rental Income 28,128 25,128
Administrative expenses (23,940) (23,195)
Operating profit 4,188 1,933
Interest payable (910) (1,174)
Profit before taxation 3,278 759
Tax on profit (323) -
Profit for the financial year 2,955 759
Continuing operations
None of the company's activities were acquired or discontinued during the
above two financial years.
Total recognised gains and losses
The company made no recognised gains or losses other than the profit/loss for
the above two years.
K - WOOD PROPERTIES LTD
Registered number: 08761980
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 53,760 54,195
Cash at bank and in hand 3,000 26
56,760 54,221
Creditors: amounts falling due within one year 4 (17,943) (19,269)
Net current assets 38,817 34,952
Total assets less current liabilities 38,817 34,952
Creditors: amounts falling due after more than one year 5 (37,305) (36,395)
Net assets/(liabilities) 1,512 (1,443)
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,412 (1,543)
Shareholders' funds 1,512 (1,443)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr D M Kiernan
Director
Approved by the board on 21 August 2024
K - WOOD PROPERTIES LTD
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings (commercial building) over the lease term
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Debtors
Inter company balance 50,281 54,195
Prepayment 3,479 -
53,760 54,195
4 Creditors: amounts falling due within one year
Trade creditors 982 396
Taxation and social security costs 332 9
Other creditors 16,629 18,864
17,943 19,269
5 Creditors: amounts falling due after one year
Bounce back loan 37,305 36,395
6 Loans
Creditors include:
Bounce back loan 37,305 36,395
A Legal charge dated 22 May 2020 containing fixed and flating charge secures all Lloyds Bank PLC borrowings of the company.
7 Other information
K - WOOD PROPERTIES LTD is a private company limited by shares and incorporated in England. Its registered office is:
48
Melford Road
London
E17 7EL
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