Registration number:
Report of the Director and
for the
Year Ended 31 December 2023
for
Chris Kerr Property Services Limited
Chris Kerr Property Services Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Chris Kerr Property Services Limited
Company Information
Director: |
C Kerr |
Registered office: |
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Registered number: |
02839010 |
Accountants: |
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Chris Kerr Property Services Limited
(Registration number: 02839010)
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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Other financial assets |
- |
771,377 |
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Cash at bank and in hand |
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CREDITORS |
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Creditors within 1yr |
272,733 |
332,580 |
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Net current assets |
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Total assets less current liabilities |
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Creditors |
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PROVISIONS FOR LIABILITIES |
( |
( |
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Net assets |
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CAPITAL AND RESERVES |
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Called up share capital |
1,000 |
1,000 |
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Other reserves |
507,949 |
419,558 |
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Profit and loss account |
1,358,472 |
1,365,439 |
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Shareholders' funds |
1,867,421 |
1,785,997 |
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.
Chris Kerr Property Services Limited
(Registration number: 02839010)
Balance Sheet as at 31 December 2023 (continued)
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
......................................... |
Chris Kerr Property Services 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 address of its registered office is:
These financial statements were authorised for issue by the
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 the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Chris Kerr Property Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)
2 |
Accounting policies (continued) |
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
Tangible assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
3. |
Staff numbers |
The average number of persons employed by the company during the year, was
Chris Kerr Property Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)
4. |
Tangible assets |
Plant and |
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Cost or valuation |
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At 1 January 2023 |
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Additions |
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At 31 December 2023 |
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Depreciation |
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At 1 January 2023 |
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Charge for the year |
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At 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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5. |
Investment properties |
31.12.23 |
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At 1 January |
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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 £467,050 plus revaluation surplus of £507,950 giving a total £975,000.
Chris Kerr Property Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)
6. |
Other financial assets (current and non-current) |
Total |
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Current asset investments |
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Cost or valuation |
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At 1 January 2023 |
805,947 |
Additions |
100,849 |
Disposals |
(881,111) |
Fair value adjustments |
(25,685) |
At 31 December 2023 |
- |
7. |
Debtors |
Current |
31.12.23 |
31.12.22 |
Trade debtors |
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Prepayments |
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Other debtors |
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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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Trade creditors |
|
47,722 |
Taxation and social security |
|
82,208 |
Other creditors |
|
202,650 |
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332,580 |
Other creditors includes £71,419 (2022 - £177,394) relating to director's loan on which no interest or payment terms have been set.
Chris Kerr Property Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)
8 |
Creditors (continued) |
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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Bank loans |
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117,142 |
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Other creditors |
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104,329 |
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123,228 |
221,471 |
Bank loans are secured by a charge on investment properties.
9. |
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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Non-current liabilities |
96,936 |
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