REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
16 DECEMBER 2022 TO 31 DECEMBER 2023 |
FOR |
KDLC HOMES LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
16 DECEMBER 2022 TO 31 DECEMBER 2023 |
FOR |
KDLC HOMES LIMITED |
KDLC HOMES LIMITED (REGISTERED NUMBER: 14544576) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 16 DECEMBER 2022 TO 31 DECEMBER 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
KDLC HOMES LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 16 DECEMBER 2022 TO 31 DECEMBER 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
869 High Road |
London |
N12 8QA |
KDLC HOMES LIMITED (REGISTERED NUMBER: 14544576) |
STATEMENT OF FINANCIAL POSITION |
31 DECEMBER 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings |
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. |
KDLC HOMES LIMITED (REGISTERED NUMBER: 14544576) |
STATEMENT OF FINANCIAL POSITION - continued |
31 DECEMBER 2023 |
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 |
KDLC HOMES LIMITED (REGISTERED NUMBER: 14544576) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 16 DECEMBER 2022 TO 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
KDLC Homes Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net rent receivable. |
Tangible fixed assets |
Fixtures and fittings | - |
Motor vehicles | - |
Investment property |
Investment properties are carried at fair value. Revaluation surpluses are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of investment properties. |
The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102 (Section 1A). The directors consider that, because these properties are not held for consumption but for their investment potential, to depreciate them would not give a true and fair view and that it is necessary to adopt FRS 102 (Section 1A) in order to give a true and fair view. If this departure from the Act had not been made, the loss for the financial year would have been increased by the amount of depreciation. |
Taxation |
Taxation for the period 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 statement of financial position date. |
Deferred tax |
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. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period 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 period was NIL. |
KDLC HOMES LIMITED (REGISTERED NUMBER: 14544576) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 16 DECEMBER 2022 TO 31 DECEMBER 2023 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST |
Additions |
At 31 December 2023 |
DEPRECIATION |
Charge for period |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
The directors believe there is no material change to the market valuation of the investment properties at 31 December 2023. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Hire purchase contracts |
Trade creditors |
Amounts owed to associates | 16,164 |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Bank loans |
Hire purchase contracts |
KDLC HOMES LIMITED (REGISTERED NUMBER: 14544576) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 16 DECEMBER 2022 TO 31 DECEMBER 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
£ |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans due in more than |
five years |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
£ |
Bank loans |
The loan is secured by way of floating legal charge on the investment properties held by the company. |
10. | RELATED PARTY DISCLOSURES |
Included within creditors, amounts falling due within one year, is an interest free amount of £768,416 due to the directors of the company. |