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REGISTERED NUMBER: 13055253 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

KING PROPERTY INVESTMENTS LIMITED

KING PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 13055253)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KING PROPERTY INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: J R King
Mrs K King





REGISTERED OFFICE: Moorland View House
Penmarth
Carmenellis
REDRUTH
Cornwall
TR16 6NY





REGISTERED NUMBER: 13055253 (England and Wales)





ACCOUNTANTS: TC Group
The Old Carriage Works
Moresk Road
Truro
Cornwall
TR1 1DG

KING PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 13055253)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 167 583
Investment property 5 496,195 495,000
496,362 495,583

CURRENT ASSETS
Stocks 470,772 434,041
Debtors 6 11,105 13,329
Cash at bank - 48,882
481,877 496,252
CREDITORS
Amounts falling due within one year 7 318,702 332,293
NET CURRENT ASSETS 163,175 163,959
TOTAL ASSETS LESS CURRENT
LIABILITIES

659,537

659,542

CREDITORS
Amounts falling due after more than one
year

8

(513,553

)

(513,342

)

PROVISIONS FOR LIABILITIES (25,421 ) (25,421 )
NET ASSETS 120,563 120,779

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Fair value reserve 10 78,494 78,494
Retained earnings 41,069 41,285
120,563 120,779

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

KING PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 13055253)

BALANCE SHEET - continued
31 MARCH 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 September 2024 and were signed on its behalf by:





J R King - Director


KING PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 13055253)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

King Property Investments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Sales of properties are recognised to revenue upon the completion of the sale.

Rent is recognised to revenue in line with the underlying agreement with the tenant.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is 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
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.

3. EMPLOYEES AND DIRECTORS

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

KING PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 13055253)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 1,000
DEPRECIATION
At 1 April 2023 417
Charge for year 416
At 31 March 2024 833
NET BOOK VALUE
At 31 March 2024 167
At 31 March 2023 583

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 495,000
Additions 1,195
At 31 March 2024 496,195
NET BOOK VALUE
At 31 March 2024 496,195
At 31 March 2023 495,000

The investment property was valued by S Maycock MRICS of Vickery Holman on 13 April 2023.

The construction cost of the property included £36,888 of capitalised finance costs.

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 98,101
Cost 398,094
496,195

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 11,105 13,329

KING PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 13055253)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 72 -
Trade creditors 1,014 2,680
Taxation and social security 14 21,278
Other creditors 317,602 308,335
318,702 332,293

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 513,553 513,342

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 513,553 513,342

10. RESERVES
Fair
value
reserve
£   
At 1 April 2023
and 31 March 2024 78,494

11. RELATED PARTY DISCLOSURES

During the year, the Directors introduced net funds of £7,997.

At 31 March 2024, the company owed the Directors £314,552 in respect of their Directors' loan. (2023: £306,555.)

The amount owing to the Directors is free of interest, and repayable on demand.