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REGISTERED NUMBER: 04080804 (England and Wales)















KEIGAR PROPERTIES LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024






KEIGAR PROPERTIES LTD (REGISTERED NUMBER: 04080804)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


KEIGAR PROPERTIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: K G Whall
A Whall





SECRETARY: A Whall





REGISTERED OFFICE: Fish Pond Farm
Fir Park
Market Rasen
Lincolnshire
LN8 3YN





REGISTERED NUMBER: 04080804 (England and Wales)

KEIGAR PROPERTIES LTD (REGISTERED NUMBER: 04080804)

BALANCE SHEET
31ST MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,061 4,931
Investment property 5 4,350,871 2,987,962
4,354,932 2,992,893

CURRENT ASSETS
Debtors 6 27,462 24,883
Cash at bank and in hand 378,973 96,615
406,435 121,498
CREDITORS
Amounts falling due within one year 7 835,074 762,532
NET CURRENT LIABILITIES (428,639 ) (641,034 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,926,293

2,351,859

PROVISIONS FOR LIABILITIES 243,329 243,329
NET ASSETS 3,682,964 2,108,530

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 9 2,456,215 1,033,355
Retained earnings 1,226,747 1,075,173
SHAREHOLDERS' FUNDS 3,682,964 2,108,530

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

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

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 5th September 2024 and were signed on its behalf by:





K G Whall - Director


KEIGAR PROPERTIES LTD (REGISTERED NUMBER: 04080804)

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

1. STATUTORY INFORMATION

Keigar Properties Ltd 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 represents rental income from the company's residential properties.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 15% on cost
Fixtures and fittings - 15% on reducing balance
Plant and Machinery - 15% 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Office and Plant and
equipment fittings Machinery Totals
£    £    £    £   
COST
At 1st April 2023
and 31st March 2024 2,804 449 7,500 10,753
DEPRECIATION
At 1st April 2023 2,074 393 3,355 5,822
Charge for year 240 9 621 870
At 31st March 2024 2,314 402 3,976 6,692
NET BOOK VALUE
At 31st March 2024 490 47 3,524 4,061
At 31st March 2023 730 56 4,145 4,931

KEIGAR PROPERTIES LTD (REGISTERED NUMBER: 04080804)

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2023 2,987,962
Disposals (136,801 )
Revaluations 1,499,710
At 31st March 2024 4,350,871
NET BOOK VALUE
At 31st March 2024 4,350,871
At 31st March 2023 2,987,962

Fair value at 31st March 2024 is represented by:
£   
Valuation in 2007 1,268,147
Valuation in 2009 312,000
Valuation in 2010 (244,400 )
Valuation in 2014 (60,000 )
Valuation in 2024 1,422,860
Cost 1,652,264
4,350,871

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

31.3.24 31.3.23
£    £   
Cost 1,652,264 1,712,215

Investment property was valued on an open market basis on 31st March 2024 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 25,461 23,041
Prepayments 2,001 1,842
27,462 24,883

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Current corporation tax 66,143 27,431
Other creditors 25,460 22,903
Amounts due to associated
companies 322,461 322,461
Directors' current accounts 418,518 385,241
Accrued expenses 2,492 4,496
835,074 762,532

8. SECURED DEBTS

The bank hold various charges over the company's investment properties to secure the amounts due to them.

KEIGAR PROPERTIES LTD (REGISTERED NUMBER: 04080804)

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

9. RESERVES
Revaluation
reserve
£   
At 1st April 2023 1,033,355
Revaluation of investment
property 1,499,710
Sale of investment property (76,850 )

At 31st March 2024 2,456,215

10. ULTIMATE CONTROLLING PARTY

The company is controlled by it's directors who jointly own 100% of the issued share capital and voting rights, however no individual has ultimate control.