Kuga Properties Ltd 07499646 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is property rental. Digita Accounts Production Advanced 6.30.9574.0 true true 07499646 2023-02-01 2024-01-31 07499646 2024-01-31 07499646 core:CurrentFinancialInstruments 2024-01-31 07499646 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 07499646 bus:SmallEntities 2023-02-01 2024-01-31 07499646 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 07499646 bus:FilletedAccounts 2023-02-01 2024-01-31 07499646 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 07499646 bus:RegisteredOffice 2023-02-01 2024-01-31 07499646 bus:Director1 2023-02-01 2024-01-31 07499646 bus:Director2 2023-02-01 2024-01-31 07499646 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 07499646 countries:AllCountries 2023-02-01 2024-01-31 07499646 2023-01-31 07499646 2022-02-01 2023-01-31 07499646 2023-01-31 07499646 core:CurrentFinancialInstruments 2023-01-31 07499646 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 iso4217:GBP xbrli:pure

Registration number: 07499646

Kuga Properties Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Kuga Properties Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 6

 

Kuga Properties Ltd

Company Information

Directors

Mr S J Norman

Mrs J C Norman

Registered office

Station House
Station Road
Rugeley
Staffordshire
WS15 3HA

Accountants

Wychbury Greaves
Station House
Station Road
Rugeley
Staffordshire
WS15 3HA

 

Kuga Properties Ltd

(Registration number: 07499646)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

650,000

650,000

Current assets

 

Debtors

3,868

4,149

Cash at bank and in hand

 

72,468

65,355

 

76,336

69,504

Creditors: Amounts falling due within one year

(506,640)

(484,889)

Net current liabilities

 

(430,304)

(415,385)

Total assets less current liabilities

 

219,696

234,615

Provisions for liabilities

(40,777)

(40,777)

Net assets

 

178,919

193,838

Capital and reserves

 

Called up share capital

5

100

100

Other reserves

173,841

173,841

Retained earnings

4,978

19,897

Shareholders' funds

 

178,919

193,838

For the financial year ending 31 January 2024 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 January 2023 in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 27 August 2024 and signed on its behalf by:
 

 

Kuga Properties Ltd

(Registration number: 07499646)
Balance Sheet as at 31 January 2024

.........................................
Mr S J Norman
Director

 

Kuga Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

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

The address of its registered office is:
Station House
Station Road
Rugeley
Staffordshire
WS15 3HA
United Kingdom

These financial statements were authorised for issue by the Board on 27 August 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Kuga Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

The director considers that the market value of its investment property has not materially changed at the year end.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Investment properties

2024
£

At 1 February

650,000

At 31 January

650,000

Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

The director considers that the market value of its investment property has not materially changed at the year end.

There has been no valuation of investment property by an independent valuer.

5

Share capital

Allotted, called up and fully paid shares

 

Kuga Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       

6

Dividends

2024

2023

£

£

Final dividend of £295.00 (2023 - £372.00) per ordinary share

29,500

37,200