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REGISTERED NUMBER: 10527188 (England and Wales)








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

KINGWOOD PROPERTY GROUP LTD

KINGWOOD PROPERTY GROUP LTD (REGISTERED NUMBER: 1052718

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KINGWOOD PROPERTY GROUP LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: J J Harrison





REGISTERED OFFICE: 3 Durrant Road
Bournemouth
Dorset
BH2 6NE





REGISTERED NUMBER: 10527188 (England and Wales)





ACCOUNTANTS: Carter & Coley
Chartered Accountants
3 Durrant Road
Bournemouth
Dorset
BH2 6NE

KINGWOOD PROPERTY GROUP LTD (REGISTERED NUMBER: 1052718

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,295 2,285

CURRENT ASSETS
Stocks 5 - 450,055
Debtors 6 134,562 1,524
Cash at bank 534,873 381,752
669,435 833,331
CREDITORS
Amounts falling due within one year 7 239,217 632,704
NET CURRENT ASSETS 430,218 200,627
TOTAL ASSETS LESS CURRENT
LIABILITIES

431,513

202,912

PROVISIONS FOR LIABILITIES 246 571
NET ASSETS 431,267 202,341

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 431,167 202,241
SHAREHOLDERS' FUNDS 431,267 202,341

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

KINGWOOD PROPERTY GROUP LTD (REGISTERED NUMBER: 1052718

BALANCE SHEET - continued
30 JUNE 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 October 2024 and were signed by:





J J Harrison - Director


KINGWOOD PROPERTY GROUP LTD (REGISTERED NUMBER: 1052718

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Kingwood Property Group 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.

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.

Turnover
Turnover represents the sale of properties on which contracts have been completed during the period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


KINGWOOD PROPERTY GROUP LTD (REGISTERED NUMBER: 1052718

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued
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. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2023
and 30 June 2024 724 5,000 2,339 8,063
DEPRECIATION
At 1 July 2023 368 3,962 1,448 5,778
Charge for year 89 260 641 990
At 30 June 2024 457 4,222 2,089 6,768
NET BOOK VALUE
At 30 June 2024 267 778 250 1,295
At 30 June 2023 356 1,038 891 2,285

5. STOCKS
2024 2023
£    £   
Work-in-progress - 450,055

KINGWOOD PROPERTY GROUP LTD (REGISTERED NUMBER: 1052718

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Other debtors 4,562 1,524

Amounts falling due after more than one year:
Amounts recoverable on contract 130,000 -

Aggregate amounts 134,562 1,524

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 90,234 46,195
Other creditors 148,983 586,509
239,217 632,704

8. RELATED PARTY DISCLOSURES

At the balance sheet date the company had received loans from the director of £25,333 (2023 - £166,559) which are included in creditors falling due within one year. This balance is interest free and repayable on demand.

At the balance sheet date the company had received loans from family members of the director amounting to £118,000 (2023 - £418,000) on which no terms have been agreed.