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REGISTERED NUMBER: 11922880 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

KIK ASSOCIATES LTD

KIK ASSOCIATES LTD (REGISTERED NUMBER: 11922880)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


KIK ASSOCIATES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: K E Turner





REGISTERED OFFICE: 34-40 High Street
Wanstead
London
E11 2RJ





REGISTERED NUMBER: 11922880 (England and Wales)





ACCOUNTANTS: THP Limited
Chartered Accountants
34-40 High Street
Wanstead
London
E11 2RJ

KIK ASSOCIATES LTD (REGISTERED NUMBER: 11922880)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 350,000 350,000

CURRENT ASSETS
Debtors 5 1,125 1,125
Cash at bank 15,748 11,107
16,873 12,232
CREDITORS
Amounts falling due within one year 6 5,877 4,368
NET CURRENT ASSETS 10,996 7,864
TOTAL ASSETS LESS CURRENT
LIABILITIES

360,996

357,864

CREDITORS
Amounts falling due after more than one
year

7

(268,677

)

(271,622

)

PROVISIONS FOR LIABILITIES 8 (18,443 ) (18,443 )
NET ASSETS 73,876 67,799

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 9 58,830 58,830
Retained earnings 9 14,946 8,869
73,876 67,799

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 director acknowledges her 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 director and authorised for issue on 19 September 2024 and were signed by:





K E Turner - Director


KIK ASSOCIATES LTD (REGISTERED NUMBER: 11922880)

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


1. STATUTORY INFORMATION

KIK Associates 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. 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.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable and represents the rents receivable for services supplied, net of returns and discounts.

Rental income is recognised in the accounting period in which the services were rendered.

Investment property
Investment properties are shown at fair value. Any aggregate surplus or deficit that arises from a change in fair value is recognised in the income statement, net of deferred tax. On an annual basis this surplus or deficit is transferred from retained profits into a separate, non-distributable reserve called the "Revaluation Reserve".

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 NIL (2023 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 350,000
NET BOOK VALUE
At 31 March 2024 350,000
At 31 March 2023 350,000

KIK ASSOCIATES LTD (REGISTERED NUMBER: 11922880)

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


4. INVESTMENT PROPERTY - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2023 77,273
Cost 272,727
350,000

The investment property was valued on an open market basis on 31 March 2024 by the director .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 1,125 1,125

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 2,403 978
Other creditors 3,474 3,390
5,877 4,368

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 268,677 271,622

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Revaluation surplus 18,443 18,443

Deferred
tax
£   
Balance at 1 April 2023 18,443
Balance at 31 March 2024 18,443

9. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 April 2023 8,869 58,830 67,699
Profit for the year 6,077 6,077
At 31 March 2024 14,946 58,830 73,776

10. RELATED PARTY DISCLOSURES

The total loan repayable to the director as at 31 March 2024 is £268,677 (2023 - £271,622).

The loan is shown within non-current liabilities. The loan is interest free and payable when the company is in a financial position to do so.