Kinland (URR Richmond) Limited 14646837 false 2023-02-08 2024-07-31 2024-07-31 The principal activity of the company is Development of building projects Digita Accounts Production Advanced 6.30.9574.0 true true 14646837 2023-02-08 2024-07-31 14646837 2024-07-31 14646837 bus:OrdinaryShareClass1 2024-07-31 14646837 core:RetainedEarningsAccumulatedLosses 2024-07-31 14646837 core:ShareCapital 2024-07-31 14646837 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 14646837 bus:SmallEntities 2023-02-08 2024-07-31 14646837 bus:AuditExemptWithAccountantsReport 2023-02-08 2024-07-31 14646837 bus:FullAccounts 2023-02-08 2024-07-31 14646837 bus:SmallCompaniesRegimeForAccounts 2023-02-08 2024-07-31 14646837 bus:RegisteredOffice 2023-02-08 2024-07-31 14646837 bus:Director1 2023-02-08 2024-07-31 14646837 bus:OrdinaryShareClass1 2023-02-08 2024-07-31 14646837 bus:PrivateLimitedCompanyLtd 2023-02-08 2024-07-31 14646837 1 2023-02-08 2024-07-31 14646837 countries:England 2023-02-08 2024-07-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14646837

Kinland (URR Richmond) Limited

(formerly Kinland (SR Wandsworth) Limited)

Annual Report and Unaudited Financial Statements

for the Period from 8 February 2023 to 31 July 2024

 

Kinland (URR Richmond) Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Kinland (URR Richmond) Limited

(Registration number: 14646837)
Balance Sheet as at 31 July 2024

Note

31 July 2024
 £

Current assets

 

Stocks

4

61,149

Cash at bank and in hand

 

246

 

61,395

Creditors: Amounts falling due within one year

5

(71,657)

Net liabilities

 

(10,262)

Capital and reserves

 

Called up share capital

6

1

Profit and loss account

(10,263)

Total equity

 

(10,262)

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

Directors' responsibilities:

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

The directors acknowledge their 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the profit and loss accounts has been taken.

Approved and authorised by the Board on 28 October 2024 and signed on its behalf by:
 

.........................................

A S Macaulay

Director

 

Kinland (URR Richmond) Limited

Notes to the Unaudited Financial Statements for the Period from 8 February 2023 to 31 July 2024

1

General information

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

The company was formerly known as Kinland (SR Wandsworth) Limited.

The address of its registered office is:
Nexus House
2 Cray Road
Sidcup
Kent
DA14 5DA

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.

Basis of preparation

These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including section 1A of Financial Reporting Standard 102 - 'The Financial Reporting standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102 1A'), and with the Companies Act 2006.

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

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future due to the ongoing support of certain related parties. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historic experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

Specifically, judgements and estimates are required in determining the value of work in progress.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

 

Kinland (URR Richmond) Limited

Notes to the Unaudited Financial Statements for the Period from 8 February 2023 to 31 July 2024

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Financial assets are classified as financial assets at fair value through profit or loss, loans and debtors, held-to-maturity investments, available-for-sale financial assets, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial assets at initial recognition.

Financial liabilities are classified as financial liabilities at fair value through profit and loss, loans and borrowings, trade and other creditors, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial liabilities at initial recognition.

 Recognition and measurement
All financial instruments are recognised initially at fair value plus transaction costs. Thereafter financial instruments are stated at amortised cost using the effective interest rate method (less impairment where appropriate) unless the effect of discounting would be immaterial in which case they are stated at cost (less impairment where appropriate). The exception to this are those financial instruments where it is a requirement to continue recording them at fair value through profit and loss.

 Impairment
Financial assets are assessed for indicators of impairment at the end of each reporting period. Financial assets are considered to be impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been affected.

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.

Stocks

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs, capitalised interest and an appropriate proportion of fixed and variable overheads.

Trade and other creditors

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.

 

Kinland (URR Richmond) Limited

Notes to the Unaudited Financial Statements for the Period from 8 February 2023 to 31 July 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 0.

4

Stocks

2024
£

Work in progress

61,149

5

Creditors

Creditors: amounts falling due within one year

Note

31 July 2024
 £

Due within one year

 

Trade creditors

 

6,698

Amounts owed to parent

7

63,209

Other creditors

 

1,750

 

71,657

6

Share capital

Allotted, called up and fully paid shares

 

31 July 2024

 

No.

£

Ordinary of £1 each

1

1

     

During the period the company allotted 1 ordinary £1 share at par value.

 

Kinland (URR Richmond) Limited

Notes to the Unaudited Financial Statements for the Period from 8 February 2023 to 31 July 2024

7

Related party transactions

Summary of transactions with other related parties

The company has taken advantage of the exemption in FRS 102 1AC.35 "Related Party Disclosures" from disclosing transactions with other members of the group.

Included in creditors is a loan from a group company of £63,209. This loan is interest free, unsecured and repayable on demand.