Registration number:
Report of the Director and
for the
Year Ended 31 December 2023
for
Chris Kerr Property Holdings Limited
Chris Kerr Property Holdings Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Chris Kerr Property Holdings Limited
Company Information
Director: |
C Kerr |
Registered office: |
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Registered number: |
04992393 |
Accountants: |
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Chris Kerr Property Holdings Limited
(Registration number: 04992393)
Balance Sheet as at 31 December 2023
Note |
31.12.23 |
31.12.22 |
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£ |
£ |
£ |
£ |
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FIXED ASSETS |
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Tangible assets |
- |
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Investment property |
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CURRENT ASSETS |
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Debtors |
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Cash at bank and in hand |
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- |
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CREDITORS |
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Creditors within 1yr |
854,901 |
31,015 |
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Net current (liabilities)/assets |
( |
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Total assets less current liabilities |
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Creditors
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PROVISIONS FOR LIABILITES |
( |
( |
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Net assets |
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CAPITAL AND RESERVES |
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Called up share capital |
100 |
100 |
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Other reserves |
955,285 |
955,285 |
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Profit and loss account |
644,455 |
646,075 |
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Shareholders' funds |
1,599,840 |
1,601,460 |
Chris Kerr Property Holdings Limited
(Registration number: 04992393)
Balance Sheet as at 31 December 2023 (continued)
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.
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.
Director's responsibilities:
• |
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• |
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 delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
.........................................
Director
Chris Kerr Property Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
1. |
General information |
The company is a private company limited by share capital, incorporated in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2. |
Accounting policies |
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.
The presentational currency is Pound Sterling (£).
Turnover
Turnover is measured at fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tax
Taxation for the year comprises current and deferred trecognized recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
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 provided upon the surplus on revaluations of Investment properties.
Chris Kerr Property Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)
2 |
Accounting policies (continued) |
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Fixtures & fittings |
25% reducing balance |
3. |
Staff numbers |
The average number of persons employed by the company during the year, was
4. |
Profit before tax |
Arrived at after charging/(crediting)
31.12.23 |
31.12.22 |
|
Depreciation expense |
- |
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Chris Kerr Property Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)
5. |
Tangible assets |
Fixtures and fittings |
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Cost or valuation |
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At 1 January 2023 |
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Disposals |
( |
At 31 December 2023 |
- |
Depreciation |
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At 1 January 2023 |
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Eliminated on disposal |
( |
At 31 December 2023 |
- |
Carrying amount |
|
At 31 December 2023 |
- |
At 31 December 2022 |
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6. |
Investment properties |
31.12.23 |
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At 1 January |
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Additions |
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At 31 December |
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The properties were revalued at the year on an open market basis by the director and fair value is represented by cost of £1,838,115 plus revaluation surplus of £955,285 giving a total £2,841,700.
7. |
Debtors |
Current |
31.12.23 |
31.12.22 |
Other debtors |
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Chris Kerr Property Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)
8. |
Creditors |
Creditors: amounts falling due within one year
31.12.23 |
31.12.22 |
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Due within one year |
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Taxation and social security |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
31.12.23 |
31.12.22 |
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Due after one year |
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Loans and borrowings |
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9. |
Reserves |
The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:
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Property Reserve |
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Amount of revaluation brought forward |
955,285 |
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The property reserve is non-distributable.
10. |
Secured debts |
31.12.23 |
31.12.22 |
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The following secured debts are included within creditors: |
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Bank loans |
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Bank loan is secured by a charge on investment property.
Chris Kerr Property Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)
11. |
Provisions for liabilities |
Deferred tax |
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At 1 January 2023 |
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Additional provisions |
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At 31 December 2023 |
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