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REGISTERED NUMBER: 04149160 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 January 2024

for

KVA Properties Limited

KVA Properties Limited (Registered number: 04149160)






Contents of the Financial Statements
for the year ended 31 January 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


KVA Properties Limited

Company Information
for the year ended 31 January 2024







DIRECTORS: S C Amison
Mrs H C Amison





SECRETARY: Mrs H C Amison





REGISTERED OFFICE: 2 Hall Drive
Willaston
Nantwich
Cheshire
CW5 6NA





REGISTERED NUMBER: 04149160 (England and Wales)






KVA Properties Limited (Registered number: 04149160)

Statement of Financial Position
31 January 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 - -
Investment property 6 420,000 400,000
420,000 400,000

CURRENT ASSETS
Debtors 7 276 258
Cash at bank 120,961 111,485
121,237 111,743
CREDITORS
Amounts falling due within one year 8 (219,483 ) (218,602 )
NET CURRENT LIABILITIES (98,246 ) (106,859 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

321,754

293,141

PROVISIONS FOR LIABILITIES (10,700 ) (5,700 )
NET ASSETS 311,054 287,441

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 311,052 287,439
SHAREHOLDERS' FUNDS 311,054 287,441

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

KVA Properties Limited (Registered number: 04149160)

Statement of Financial Position - continued
31 January 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 September 2024 and were signed on its behalf by:





S C Amison - Director


KVA Properties Limited (Registered number: 04149160)

Notes to the Financial Statements
for the year ended 31 January 2024

1. STATUTORY INFORMATION

KVA Properties Limited ('The Company') is primarily engaged in property development.

The company is a private company limited by shares and is incorporated in England and Wales. The address of the principal place of business and of the registered office is 2 Hall Drive, Willaston, Nantwich, Cheshire, CW5 6NA. The registered number can be found on the Company Information page.

The functional and presentational currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest £.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Summary of significant accounting policies
The principle accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented, unless otherwise stated.

Basis of preparation
The financial statements are prepared on the going concern basis under the historical cost convention and comply with the United Kingdom Accounting Standards and Companies Act 2006. The properties included in the statement of financial position are held as investment properties. This is a reflection of the directors decision not to sell the properties for the foreseeable future but to hold them as an investment for rental income purposes.

Going concern
After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The sum owed to group companies is included in amounts due within one year as there is no agreement in force which indicates the repayment terms. The directors of Lea Consultancy Services Limited have stated that no repayment would be made which would affect the liquidity of the company.

No other material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors. On this basis the directors consider it appropriate to prepare the financial statements on the going concern basis.

Turnover
Turnover represents rental income, excluding value added tax, receivable on investment properties.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33.33% straight line

Investment property
Investment property is shown at fair value, the fair value is reviewed annually by the directors. Any aggregate surplus or deficit arising from changes in the fair value in the year is recognised in the profit or loss within the Statement of Comprehensive Income. The cumulative fair value surplus on the investment property is highlighted in the notes to the financial statements as non-distributable reserves.


KVA Properties Limited (Registered number: 04149160)

Notes to the Financial Statements - continued
for the year ended 31 January 2024

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income 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 year end.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the year end.

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.

Impairment of assets
Assets not measured at fair value are reviewed for any indications that the asset maybe impaired at each statement of financial position date. If such indications exists the recoverable amount of the asset or the assets cash generating unit is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Any losses arising from impairment are recognised in the Statement of Comprehensive Income under the appropriate heading.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 February 2023
and 31 January 2024 924
DEPRECIATION
At 1 February 2023
and 31 January 2024 924
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

KVA Properties Limited (Registered number: 04149160)

Notes to the Financial Statements - continued
for the year ended 31 January 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 400,000
Revaluations 20,000
At 31 January 2024 420,000
NET BOOK VALUE
At 31 January 2024 420,000
At 31 January 2023 400,000

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2024 420,000

If investment property had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 267,942 267,942

The investment property was valued on an open market basis on 31 January 2024 by the directors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Prepayments and accrued income 276 258

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 213,099 212,000
Tax 2,020 2,255
Other creditors 3,000 3,000
Directors' current accounts 305 198
Accruals and deferred income 1,059 1,149
219,483 218,602

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

9. RELATED PARTY DISCLOSURES

Transactions with related parties during the year and balances outstanding at the end of the reporting period were as follows:

Parent company:

2022 2021
£ £
Amounts owed to entities 213,099 212,000

KVA Properties Limited (Registered number: 04149160)

Notes to the Financial Statements - continued
for the year ended 31 January 2024

10. ULTIMATE CONTROLLING PARTY

The company is a 100% subsidiary of Lea Consultancy Limited (a company incorporated in England and Wales), which is the ultimate parent company. Lea Consultancy Limited is under the control of Mr A C Amison and Mrs H C Amison, who at the date of this report hold 100% controlling interest in the issued share capital.

11. NON-DISTRIBUTABLE RESERVES

Included within retained earnings is an amount of £152,058 (2023: £132,058) which is a non-distributable reserve.