Killy Developments Ltd
Unaudited accounts
Contents
Killy Developments Ltd
Company Information
for the year ended 31 January 2024
Directors
Mark Eccles
Claire Stephens
Company Number
13140042 (England and Wales)
Registered Office
2 Cathebedron Road
Carnhell Green
Camborne
Cornwall
TR14 0NB
England
Accountants
Forth Accountancy
The Ground Floor Office
5 Market Square
Mevagissey
ST. AUSTELL
Cornwall
PL26 6UD
Killy Developments Ltd
Statement of financial position
as at 31 January 2024
Investment property
530,378
-
Cash at bank and in hand
2,050
48,535
Creditors: amounts falling due within one year
(404,328)
(389,060)
Net current liabilities
(401,972)
(339,132)
Total assets less current liabilities
128,406
(31,123)
Creditors: amounts falling due after more than one year
(180,000)
-
Net liabilities
(51,594)
(31,123)
Profit and loss account
(51,594)
(31,123)
Shareholders' funds
(51,594)
(31,123)
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 October 2024 and were signed on its behalf by
Mark Eccles
Director
Company Registration No. 13140042
Killy Developments Ltd
Notes to the Accounts
for the year ended 31 January 2024
Killy Developments Ltd is a private company, limited by shares, registered in England and Wales, registration number 13140042. The registered office is 2 Cathebedron Road, Carnhell Green, Camborne, Cornwall, TR14 0NB, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 January 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 February 2022.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Killy Developments Ltd
Notes to the Accounts
for the year ended 31 January 2024
4
Tangible fixed assets
Land & buildings
At 1 February 2023
308,009
Transfer to investment property
(308,009)
At 31 January 2023
308,009
Transfers from tangible fixed assets
308,009
At 31 January 2024
530,378
Amounts falling due within one year
Accrued income and prepayments
306
-
7
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
-
2,110
Other creditors
72,685
70,500
Loans from directors
316,450
316,450
8
Creditors: amounts falling due after more than one year
2024
2023
Killy Developments Ltd
Notes to the Accounts
for the year ended 31 January 2024
9
Transactions with related parties
During the year Killy Developments engaged the services of Celtic Improvements Limited to undertake development work on the property, Celtic Improvements Limited is owned by Mark Eccles, the Director of Killy Developments Limited.
All transactions were at a market value rate. The total value invoices for the year to 31 January 2023 was £222k (£15,684 owing at year end)
As at 31 January 2023 there was an intercompany loan balance of £2,185 being owed by Killy Developments to Celtic Improvements (2022 nil)
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).