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REGISTERED NUMBER: 12366867 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Kearns Residential Ltd

Kearns Residential Ltd (Registered number: 12366867)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Kearns Residential Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: P P Kearns
Ms F Kearns





REGISTERED OFFICE: 127 High Street
Ruislip
Middlesex
HA4 8JN





REGISTERED NUMBER: 12366867 (England and Wales)





ACCOUNTANTS: Bristow Burrell
4 Riverview
Walnut Tree Close
Guildford
Surrey
GU1 4UX

Kearns Residential Ltd (Registered number: 12366867)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 12,788 20,621

CURRENT ASSETS
Debtors 6 7,586 27,130
Cash at bank and in hand 30,248 64,725
37,834 91,855
CREDITORS
Amounts falling due within one
year

7

52,463

27,919
NET CURRENT (LIABILITIES)/ASSETS (14,629 ) 63,936
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,841

)

84,557

CREDITORS
Amounts falling due after more
than one year

8

836,041

637,937
NET LIABILITIES (837,882 ) (553,380 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings (837,982 ) (553,480 )
SHAREHOLDERS' FUNDS (837,882 ) (553,380 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 4 September 2024 and were signed on its behalf by:





P P Kearns - Director


Kearns Residential Ltd (Registered number: 12366867)

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

1. STATUTORY INFORMATION

Kearns Residential 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 8 ) .

Kearns Residential Ltd (Registered number: 12366867)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 39,165
DEPRECIATION
At 1 January 2023 18,544
Charge for year 7,833
At 31 December 2023 26,377
NET BOOK VALUE
At 31 December 2023 12,788
At 31 December 2022 20,621

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 6,857 10,270
Other debtors 729 16,860
7,586 27,130

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 13,680 12,357
Taxation and social security 8,293 255
Other creditors 30,490 15,307
52,463 27,919

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Other creditors 836,041 637,937

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100

10. RELATED PARTY DISCLOSURES

At the year end included in other creditors is a balance of £836,041 (2022: £637,937) owed to Kearns Development Limited. The companies are registered in England & Wales. In the year Peter Paul Kearns and Farrah Kearns were directors. Mr Peter Paul Kearns is the majority shareholder of both companies.