Company No:
Contents
Note | 2022 | 2021 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets |
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Investment property | 3 |
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Investments | 4 |
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241,158 | 241,159 | |||
Current assets | ||||
Debtors | 5 |
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Cash at bank and in hand |
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2,578 | 8,951 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current liabilities | (87,897) | (101,982) | ||
Total assets less current liabilities | 153,261 | 139,177 | ||
Creditors: amounts falling due after more than one year | 7 | (
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Net (liabilities)/assets | (
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Capital and reserves | ||||
Called-up share capital | 8 |
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Profit and loss account | (
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Total shareholders' (deficit)/funds | (
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Director's responsibilities:
The financial statements of Kick Property Solutions Limited (registered number:
Mr C J W Campbell
Director |
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.
Kick Property Solutions Limited (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 C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3RP, United Kingdom. The principal place of business is Webbs Cottage, Pike Street, Liskeard, PL14 4JQ.
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 £.
The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due 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.
Group accounts exemption s399
The Company has taken advantage of the exemption in section 399 of the Companies Act 2006 not to prepare consolidated accounts, because the group it heads qualifies as small. The financial statements present information about the Company as an individual entity only.
Revenue from services is recognised as they are delivered.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Investment property | not depreciated |
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
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.
Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.
Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.
2022 | 2021 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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Investment property | |
£ | |
Valuation | |
As at 01 September 2021 |
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Transfers to and from property, plant and equipment | 241,149 |
As at 31 August 2022 |
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At the balance sheet date, it was the opinion of the directors that the carrying value of the investment properties represented the fair value of the property.
Investments in subsidiaries
2022 | |
£ | |
Cost | |
At 01 September 2021 |
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At 31 August 2022 |
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Provisions for impairment | |
At 01 September 2021 |
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Impairment |
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At 31 August 2022 |
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Carrying value at 31 August 2022 |
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Carrying value at 31 August 2021 |
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2022 | 2021 | ||
£ | £ | ||
Amounts owed by Group undertakings |
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Other debtors |
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2022 | 2021 | ||
£ | £ | ||
Bank loans |
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Trade creditors |
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Amounts owed to Group undertakings |
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Other creditors |
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2022 | 2021 | ||
£ | £ | ||
Bank loans |
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2022 | 2021 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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100 | 100 |
Transactions with the entity's director
2022 | 2021 | ||
£ | £ | ||
Brought forward | (10,748) | (44,459) | |
Advances to directors | 12,073 | 35,451 | |
Repayments by the directors | (250) | (1,740) | |
0 | 0 | ||
Closing balance | 1,075 | (10,748) | |
0 | 0 |
The amount owed by the director at the year end is £975, with the full amount being repayable on demand.