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Registration number: 11136355

KIW Property Investments Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2024

 

KIW Property Investments Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

KIW Property Investments Limited

Company Information

Director

Mr Kristofor Ian Walton

Registered office

Francis House
Humber Place
The Marina
Hull
HU1 1UD

Accountants

RiverView Portfolio Limited
1 Market Hill
Calne
Wiltshire
SN11 0BT

 

KIW Property Investments Limited

(Registration number: 11136355)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

360

720

Investment property

6

510,963

515,000

 

511,323

515,720

Current assets

 

Debtors

7

1,864

293

Cash at bank and in hand

 

23,404

25,406

 

25,268

25,699

Creditors: Amounts falling due within one year

8

(165)

(12,520)

Net current assets

 

25,103

13,179

Total assets less current liabilities

 

536,426

528,899

Creditors: Amounts falling due after more than one year

8

(394,434)

(382,994)

Provisions for liabilities

(19,942)

(20,710)

Net assets

 

122,050

125,195

Capital and reserves

 

Called up share capital

1

1

Revaluation reserve

85,018

88,288

Retained earnings

37,031

36,906

Shareholders' funds

 

122,050

125,195

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 15 October 2024
 

 

KIW Property Investments Limited

(Registration number: 11136355)
Balance Sheet as at 31 January 2024 (continued)

.........................................
Mr Kristofor Ian Walton
Director

 

KIW Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Francis House
Humber Place
The Marina
Hull
HU1 1UD

These financial statements were authorised for issue by the director on 15 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Investment property

The fair value of the property at 31 January 2024 has been arrived at on the basis of a valuation carried out at that date by the director of the company, who is not a professionally qualified valuer. The valuation of £510,963 was arrived at by reference to the market evidence of transaction prices for similar properties in its location the property is situated.

 

KIW Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

2

Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

4

Profit/loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

360

359

 

KIW Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2023

1,799

1,799

At 31 January 2024

1,799

1,799

Depreciation

At 1 February 2023

1,079

1,079

Charge for the year

360

360

At 31 January 2024

1,439

1,439

Carrying amount

At 31 January 2024

360

360

At 31 January 2023

720

720

6

Investment properties

2024
£

At 1 February

515,000

Fair value adjustments

(4,037)

At 31 January

510,963

The fair value of the property at 31 January 2024 has been arrived at on the basis of a valuation carried out at that date by the director of the company, who is not a professionally qualified valuer. The valuation of £510.963 was arrived at by reference to the market evidence of transaction prices for similar properties in its location the property is situated.

7

Debtors

2024
£

2023
£

Trade debtors

1,544

-

Prepayments

320

293

1,864

293

 

KIW Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

-

10,540

Accruals and deferred income

 

165

1,980

 

165

12,520

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

394,434

382,994

9

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

(3,270)

(3,270)

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

88,288

88,288

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

302,208

302,208

Other borrowings

92,226

80,786

394,434

382,994