KLW Property Ltd 14394267 false 2022-10-03 2024-02-29 2024-02-29 The principal activity of the company is the buying, development and selling of real estate. Digita Accounts Production Advanced 6.30.9574.0 true true 14394267 2022-10-03 2024-02-29 14394267 2024-02-29 14394267 core:CurrentFinancialInstruments 2024-02-29 14394267 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 14394267 bus:SmallEntities 2022-10-03 2024-02-29 14394267 bus:AuditExemptWithAccountantsReport 2022-10-03 2024-02-29 14394267 bus:FullAccounts 2022-10-03 2024-02-29 14394267 bus:SmallCompaniesRegimeForAccounts 2022-10-03 2024-02-29 14394267 bus:RegisteredOffice 2022-10-03 2024-02-29 14394267 bus:Director1 2022-10-03 2024-02-29 14394267 bus:PrivateLimitedCompanyLtd 2022-10-03 2024-02-29 14394267 countries:England 2022-10-03 2024-02-29 iso4217:GBP xbrli:pure

Registration number: 14394267

KLW Property Ltd

Annual Report and Unaudited Financial Statements

for the Period from 3 October 2022 to 29 February 2024

 

KLW Property Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

KLW Property Ltd

Company Information

Director

Mr J Wilcock

Registered office

The stables
High Melton
Doncaster
South Yorkshire
DN5 7SZ

 

KLW Property Ltd

(Registration number: 14394267)
Balance Sheet as at 29 February 2024

Note

2024
£

Current assets

 

Stocks

4

1,255,312

Cash at bank and in hand

 

425

 

1,255,737

Creditors: Amounts falling due within one year

5

(1,285,052)

Net liabilities

 

(29,315)

Capital and reserves

 

Called up share capital

100

Retained earnings

(29,415)

Shareholders' deficit

 

(29,315)

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 28 August 2024
 

.........................................
Mr J Wilcock
Director

 

KLW Property Ltd

Notes to the Unaudited Financial Statements for the Period from 3 October 2022 to 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
The stables
High Melton
Doncaster
South Yorkshire
DN5 7SZ

These financial statements were authorised for issue by the director on 28 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

KLW Property Ltd

Notes to the Unaudited Financial Statements for the Period from 3 October 2022 to 29 February 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

4

Stocks

2024
£

Work in progress

1,255,312

 

KLW Property Ltd

Notes to the Unaudited Financial Statements for the Period from 3 October 2022 to 29 February 2024

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Loans and borrowings

6

1,282,712

Accruals and deferred income

 

2,340

 

1,285,052

6

Loans and borrowings

2024
£

Current loans and borrowings

Other borrowings

1,282,712