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REGISTERED NUMBER: 12304138 (England and Wales)















K & T Lettings Ltd

Financial Statements for the Year Ended 31st March 2024






K & T Lettings Ltd (Registered number: 12304138)

Contents of the Financial Statements
for the Year Ended 31st March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


K & T Lettings Ltd

Company Information
for the Year Ended 31st March 2024







DIRECTOR: T French





REGISTERED OFFICE: 2 Oriel Court
Omega Park
Alton
Hampshire
GU34 2YT





REGISTERED NUMBER: 12304138 (England and Wales)





ACCOUNTANTS: Sheen Stickland
Chartered Accountants
2 Oriel Court
Omega Park
Alton
Hampshire
GU34 2YT

K & T Lettings Ltd (Registered number: 12304138)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 415,176 406,239

CURRENT ASSETS
Debtors 5 649 815
Cash at bank 4,448 1,810
5,097 2,625
CREDITORS
Amounts falling due within one year 6 348,065 354,555
NET CURRENT LIABILITIES (342,968 ) (351,930 )
TOTAL ASSETS LESS CURRENT LIABILITIES 72,208 54,309

PROVISIONS FOR LIABILITIES 8,335 6,637
NET ASSETS 63,873 47,672

CAPITAL AND RESERVES
Called up share capital 7 100 100
Fair value reserve 8 35,534 28,295
Retained earnings 8 28,239 19,277
SHAREHOLDERS' FUNDS 63,873 47,672

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 director acknowledges his 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.

K & T Lettings Ltd (Registered number: 12304138)

Balance Sheet - continued
31st March 2024


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 11th October 2024 and were signed by:





T French - Director


K & T Lettings Ltd (Registered number: 12304138)

Notes to the Financial Statements
for the Year Ended 31st March 2024


1. STATEMENT OF COMPLIANCE

K & T Lettings Limited is a private company, limited by shares, incorporated in England and Wales. The address of the registered office is 2 Oriel Court, Omega Park, Alton, Hampshire, GU34 2YT. The registration number is 12304138.

The financial statements are presented in sterling, the functional currency of the company, and rounded to the nearest pound.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The financial statements have been prepared under the historical cost convention, with the exception of investment properties which are held at fair value.

Turnover
Turnover represents rents receivable under operating leases for the year after appropriate adjustments have been made for deferred and accrued income.

Investment property
Investment property is included at fair value, any aggregate surplus of deficit arising from changes in fair value is recognised in profit or loss. Deferred tax is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the financial instrument.

Cash and cash equivalents
These comprise cash at bank.

Debtors
Short term debtors are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Income Statement when there is objective evidence that the asset is impaired.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction


K & T Lettings Ltd (Registered number: 12304138)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024


2. ACCOUNTING POLICIES - continued
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 1 (2023 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2023 406,239
Revaluations 8,937
At 31st March 2024 415,176
NET BOOK VALUE
At 31st March 2024 415,176
At 31st March 2023 406,239

The investment property is held at fair value which has been estimated by the director.

K & T Lettings Ltd (Registered number: 12304138)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024


4. INVESTMENT PROPERTY - continued

Fair value at 31st March 2024 is represented by:
£   
Valuation in 2022 14,852
Valuation in 2023 20,080
Valuation in 2024 8,937
Cost 371,307
415,176

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Prepayments and accrued income 649 815

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 2,102 1,131
Directors' current accounts 343,712 351,192
Accruals and deferred income 2,251 2,232
348,065 354,555

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1.00 100 100

K & T Lettings Ltd (Registered number: 12304138)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024


8. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1st April 2023 19,277 28,295 47,572
Profit for the year 16,201 16,201
Fair value movement (7,239 ) 7,239 -
At 31st March 2024 28,239 35,534 63,773

9. RELATED PARTY DISCLOSURES

The Directors Loan Account is repayable on demand and no interest is payable.