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Company No: 07853647 (England and Wales)

KDKS PROPERTIES LTD

Unaudited Financial Statements
For the financial year ended 30 November 2023
Pages for filing with the registrar

KDKS PROPERTIES LTD

Unaudited Financial Statements

For the financial year ended 30 November 2023

Contents

KDKS PROPERTIES LTD

BALANCE SHEET

As at 30 November 2023
KDKS PROPERTIES LTD

BALANCE SHEET (continued)

As at 30 November 2023
Note 2023 2022
£ £
Fixed assets
Investment property 4 624,839 624,839
624,839 624,839
Current assets
Debtors 5 4,968 4,968
Cash at bank and in hand 12,124 16,369
17,092 21,337
Creditors: amounts falling due within one year 6 ( 382,872) ( 383,534)
Net current liabilities (365,780) (362,197)
Total assets less current liabilities 259,059 262,642
Net assets 259,059 262,642
Capital and reserves
Called-up share capital 7 300 300
Profit and loss account 258,759 262,342
Total shareholders' funds 259,059 262,642

For the financial year ending 30 November 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 KDKS Properties Ltd (registered number: 07853647) were approved and authorised for issue by the Board of Directors on 30 August 2024. They were signed on its behalf by:

K A Seaborne
Director
KDKS PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
KDKS PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 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

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 £.

Going concern

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.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the Company’s activities.

The Company recognises revenue based on its value of the service provided to date.

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 straight-line basis over its expected useful life, as follows:

Office equipment 4 years straight line

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 Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 December 2022 390 390
At 30 November 2023 390 390
Accumulated depreciation
At 01 December 2022 390 390
At 30 November 2023 390 390
Net book value
At 30 November 2023 0 0
At 30 November 2022 0 0

4. Investment property

Investment property
£
Valuation
As at 01 December 2022 624,839
As at 30 November 2023 624,839

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

5. Debtors

2023 2022
£ £
Other debtors 4,968 4,968

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 4,063 0
Amounts owed to related parties 26,313 19,097
Amounts owed to directors 348,896 360,675
Accruals 3,600 3,762
382,872 383,534

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
300 Ordinary shares of £ 1.00 each 300 300

8. Related party transactions

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.