Kent Residential Lettings Limited 02533623 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is Management of real estate on a fee or contract basis Digita Accounts Production Advanced 6.30.9574.0 true true 02533623 2023-01-01 2023-12-31 02533623 2023-12-31 02533623 core:RetainedEarningsAccumulatedLosses 2023-12-31 02533623 core:ShareCapital 2023-12-31 02533623 core:CurrentFinancialInstruments 2023-12-31 02533623 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 02533623 core:FurnitureFittingsToolsEquipment 2023-12-31 02533623 core:LandBuildings 2023-12-31 02533623 core:MotorVehicles 2023-12-31 02533623 bus:SmallEntities 2023-01-01 2023-12-31 02533623 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 02533623 bus:FullAccounts 2023-01-01 2023-12-31 02533623 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 02533623 bus:RegisteredOffice 2023-01-01 2023-12-31 02533623 bus:Director2 2023-01-01 2023-12-31 02533623 bus:Director3 2023-01-01 2023-12-31 02533623 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02533623 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 02533623 core:LandBuildings 2023-01-01 2023-12-31 02533623 core:MotorVehicles 2023-01-01 2023-12-31 02533623 core:PlantMachinery 2023-01-01 2023-12-31 02533623 1 2023-01-01 2023-12-31 02533623 countries:EnglandWales 2023-01-01 2023-12-31 02533623 2022-12-31 02533623 core:FurnitureFittingsToolsEquipment 2022-12-31 02533623 core:LandBuildings 2022-12-31 02533623 core:MotorVehicles 2022-12-31 02533623 2021-09-01 2022-12-31 02533623 2022-12-31 02533623 core:RetainedEarningsAccumulatedLosses 2022-12-31 02533623 core:ShareCapital 2022-12-31 02533623 core:CurrentFinancialInstruments 2022-12-31 02533623 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 02533623 core:FurnitureFittingsToolsEquipment 2022-12-31 02533623 core:LandBuildings 2022-12-31 02533623 core:MotorVehicles 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 02533623

Kent Residential Lettings Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Kent Residential Lettings Limited
(Registration number: 02533623)

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Kent Residential Lettings Limited
(Registration number: 02533623)

Company Information

Directors

Mrs C Harvey

Mr C N Harvey

Registered office

53 High Street
Maidstone
Kent
ME14 1SY

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

Kent Residential Lettings Limited
(Registration number: 02533623)

Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

509

1,891

Current assets

 

Debtors

5

270,745

110,402

Cash at bank and in hand

 

411,384

407,955

 

682,129

518,357

Creditors: Amounts falling due within one year

6

(356,753)

(355,940)

Net current assets

 

325,376

162,417

Total assets less current liabilities

 

325,885

164,308

Provisions for liabilities

-

(69)

Net assets

 

325,885

164,239

Capital and reserves

 

Called up share capital

1,000

1,000

Profit and loss account

324,885

163,239

Total equity

 

325,885

164,239

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 11 September 2024 and signed on its behalf by:
 

.........................................
Mrs C Harvey
Director

 

Kent Residential Lettings Limited
(Registration number: 02533623)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
53 High Street
Maidstone
Kent
ME14 1SY

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Income represents the fair value of consideration received or receivable derived from the provision of letting agent services to customers during the year (excluding value added tax) and is recognised when the company becomes entitled to it, usually on the rendering of a monthly invoice.

Tax

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 by the statement of financial position date

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

 

Kent Residential Lettings Limited
(Registration number: 02533623)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

10% on cost

Plant and machinery etc

33% on cost and 25% on cost

Motor vehicles

25% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Kent Residential Lettings Limited
(Registration number: 02533623)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Defined contribution pension obligation

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2022 - 5).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

1,250

6,838

7,975

16,063

At 31 December 2023

1,250

6,838

7,975

16,063

Depreciation

At 1 January 2023

1,250

4,947

7,975

14,172

Charge for the year

-

1,382

-

1,382

At 31 December 2023

1,250

6,329

7,975

15,554

Carrying amount

At 31 December 2023

-

509

-

509

At 31 December 2022

-

1,891

-

1,891

Included within the net book value of land and buildings above is £Nil (2022 - £Nil) in respect of short leasehold land and buildings.
 

 

Kent Residential Lettings Limited
(Registration number: 02533623)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Debtors

Note

2023
£

2022
£

Trade debtors

 

45,578

35,752

Amounts owed by group undertakings and undertakings in which the company has a participating interest

222,776

71,461

Other debtors

 

-

1,627

Prepayments and accrued income

 

2,391

1,562

Total current trade and other debtors

 

270,745

110,402

6

Creditors

2023
£

2022
£

Due within one year

Trade creditors

33,121

26,501

Taxation and social security

88,453

59,949

Other creditors

230,655

264,584

Accrued expenses

4,524

4,906

356,753

355,940

7

Parent and ultimate parent undertaking

The company's immediate parent is Rockstow Green Properties Limited, incorporated in England and Wales.