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Company No: 11505428 (England and Wales)

KICK PROPERTY SOLUTIONS LIMITED

Unaudited Financial Statements
For the financial year ended 31 August 2023
Pages for filing with the registrar

KICK PROPERTY SOLUTIONS LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2023

Contents

KICK PROPERTY SOLUTIONS LIMITED

BALANCE SHEET

As at 31 August 2023
KICK PROPERTY SOLUTIONS LIMITED

BALANCE SHEET (continued)

As at 31 August 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 8,739 0
Investment property 4 288,089 241,149
Investments 5 9 9
296,837 241,158
Current assets
Debtors 6 0 1,075
Cash at bank and in hand 88 1,503
88 2,578
Creditors: amounts falling due within one year 7 ( 83,152) ( 90,475)
Net current liabilities (83,064) (87,897)
Total assets less current liabilities 213,773 153,261
Creditors: amounts falling due after more than one year 8 ( 182,847) ( 188,830)
Net assets/(liabilities) 30,926 ( 35,569)
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account 30,826 ( 35,669 )
Total shareholders' funds/(deficit) 30,926 ( 35,569)

For the financial year ending 31 August 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Kick Property Solutions Limited (registered number: 11505428) were approved and authorised for issue by the Director on 04 September 2024. They were signed on its behalf by:

Mr C J W Campbell
Director
KICK PROPERTY SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
KICK PROPERTY SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 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

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 £.

Going concern

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.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Revenue from services is recognised as they are delivered.

Taxation

Current tax
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.

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 reducing balance basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance

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.

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.

Fixed asset investments

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 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.

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.

2. Employees

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

3. Tangible assets

Plant and machinery Vehicles Total
£ £ £
Cost
At 01 September 2022 0 0 0
Additions 5,008 5,600 10,608
At 31 August 2023 5,008 5,600 10,608
Accumulated depreciation
At 01 September 2022 0 0 0
Charge for the financial year 819 1,050 1,869
At 31 August 2023 819 1,050 1,869
Net book value
At 31 August 2023 4,189 4,550 8,739
At 31 August 2022 0 0 0

4. Investment property

Investment property
£
Valuation
As at 01 September 2022 241,149
Additions 46,940
As at 31 August 2023 288,089

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.

5. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 September 2022 9
At 31 August 2023 9
Carrying value at 31 August 2023 9
Carrying value at 31 August 2022 9

6. Debtors

2023 2022
£ £
Other debtors 0 1,075

7. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 7,200 6,159
Trade creditors 0 2,113
Amounts owed to Group undertakings 33,958 67,926
Other creditors 41,994 14,277
83,152 90,475

8. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 182,847 188,830

The loans in the company are secured by a charge against the assets of the company.

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
80 Ordinary A shares of £ 1.00 each 80 80
20 Ordinary B shares of £ 1.00 each 20 20
100 100