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REGISTERED NUMBER: 12582831 (England and Wales)







Unaudited Financial Statements for the Year Ended 31 March 2024

for

Kore Property Rentals Limited

Kore Property Rentals Limited (Registered number: 12582831)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Kore Property Rentals Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr Mark Paul Bodey
Mrs Kelly Bodey





REGISTERED OFFICE: Hanham Hall
Whittucks Road
Hanham
Bristol
City of Bristol
BS15 3FR





REGISTERED NUMBER: 12582831 (England and Wales)





ACCOUNTANTS: Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
United Kingdom
BS32 4JY

Kore Property Rentals Limited (Registered number: 12582831)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Investment property 4 3,215,442 1,569,687

CURRENT ASSETS
Debtors 5 54,528 1,505
Cash at bank 43,525 405,171
98,053 406,676
CREDITORS
Amounts falling due within one year 6 (536,148 ) (302,471 )
NET CURRENT (LIABILITIES)/ASSETS (438,095 ) 104,205
TOTAL ASSETS LESS CURRENT LIABILITIES 2,777,347 1,673,892

CREDITORS
Amounts falling due after more than one year 7 (982,137 ) (631,000 )

PROVISIONS FOR LIABILITIES (180,701 ) -
NET ASSETS 1,614,509 1,042,892

CAPITAL AND RESERVES
Called up share capital 9 309,504 309,504
Share premium 10 309,500 309,500
Fair value reserve 10 542,104 -
Retained earnings 10 453,401 423,888
SHAREHOLDERS' FUNDS 1,614,509 1,042,892

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 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.

Kore Property Rentals Limited (Registered number: 12582831)

Balance Sheet - continued
31 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 Board of Directors and authorised for issue on 11 October 2024 and were signed on its behalf by:





Mr Mark Paul Bodey - Director


Kore Property Rentals Limited (Registered number: 12582831)

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

1. STATUTORY INFORMATION

Kore Property Rentals Limited 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.

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.

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

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

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 1,569,687
Additions 922,949
Revaluations 722,806
At 31 March 2024 3,215,442
NET BOOK VALUE
At 31 March 2024 3,215,442
At 31 March 2023 1,569,687

Kore Property Rentals Limited (Registered number: 12582831)

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 2024 722,806
Cost 2,492,636
3,215,442

If investment property had not been revalued it would have been included at the following historical cost:

31.3.24 31.3.23
£    £   
Cost 2,492,636 1,569,687

Investment property was valued on an open market basis on 31 March 2024 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 52,534 -
VAT - 1,505
Prepayments 1,994 -
54,528 1,505

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 22 2,076
Tax 85,298 100,801
Other creditors 379,344 179,211
Directors' current accounts 714 19,173
Deferred income 69,500 -
Accrued expenses 1,270 1,210
536,148 302,471

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans more 5 yr by instal 982,137 631,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 982,137 631,000

Kore Property Rentals Limited (Registered number: 12582831)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 982,137 631,000

9. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
154,752 Ordinary A £1 154,752 154,752
154,752 Ordinary B £1 154,752 154,752
309,504 309,504

10. RESERVES
Fair
Retained Share value
earnings premium reserve Totals
£    £    £    £   

At 1 April 2023 423,888 309,500 - 733,388
Profit for the year 571,617 571,617
Assets revalued in period (542,104 ) - 542,104 -
At 31 March 2024 453,401 309,500 542,104 1,305,005

11. RELATED PARTY DISCLOSURES

All related party transactions took place at an arms length basis.

As at 31/03/2024, £379,344 (2023: £179,211) was owed to Kore Construction Limited.