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REGISTERED NUMBER: 01891983 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

KENT PROPERTY SERVICES CENTRE LIMITED

KENT PROPERTY SERVICES CENTRE LIMITED (REGISTERED NUMBER: 01891983)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


KENT PROPERTY SERVICES CENTRE LIMITED (REGISTERED NUMBER: 01891983)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,369 3,948
Investment property 5 2,090,000 2,090,000
2,093,369 2,093,948

CURRENT ASSETS
Stocks 93,826 93,826
Debtors 6 1,751 8,679
Cash at bank 46,245 34,058
141,822 136,563
CREDITORS
Amounts falling due within one year 7 55,882 53,872
NET CURRENT ASSETS 85,940 82,691
TOTAL ASSETS LESS CURRENT LIABILITIES 2,179,309 2,176,639

CREDITORS
Amounts falling due after more than one year 8 (39,217 ) (53,613 )

PROVISIONS FOR LIABILITIES (341,032 ) (340,964 )
NET ASSETS 1,799,060 1,782,062

CAPITAL AND RESERVES
Called up share capital 10 100 100
Non-distributable reserve 1,236,702 1,236,702
Retained earnings 562,258 545,260
SHAREHOLDERS' FUNDS 1,799,060 1,782,062

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 November 2024 and were signed on its behalf by:



Mrs J E Clark - Director


KENT PROPERTY SERVICES CENTRE LIMITED (REGISTERED NUMBER: 01891983)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Kent Property Services Centre Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01891983

Registered office: Ingram House
6 Meridian Way
Norwich
NR7 0TA

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.

The financial statements are presented in Sterling, which is the functional currency of the company and rounded to the nearest £.

Revenue recognition
Turnover is stated net of value added tax. Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease unless the lease payments are structured to increase with general inflation in which case the income is recognised as revenue in accordance with the expected payments. Property sales are recognised on exchange of a legally binding contract.

Tangible assets
Tangible assets are recorded at cost less accumulated depreciation. Depreciation is calculated so as to write off the cost of fixed assets, less their estimated residual values, over the expected useful economic lives of the assets concerned. The principal annual rates used for this purposes are as follows:


Plant & Machinery etc - 25% reducing balance

Investment properties
Investment properties are initially recorded at cost which includes purchase cost and any directly attributable expenditure.

Investment properties whose fair value can be measured reliably are measured at fair value. The gain or loss on revaluation is recognised in the Statement of Comprehensive Income in the period in which it arises. Such gains or losses are transferred from retained earnings to a non-distributable reserve.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


KENT PROPERTY SERVICES CENTRE LIMITED (REGISTERED NUMBER: 01891983)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 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. AVERAGE NUMBER OF EMPLOYEES

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 26,797
Additions 529
At 31 May 2024 27,326
DEPRECIATION
At 1 June 2023 22,849
Charge for year 1,108
At 31 May 2024 23,957
NET BOOK VALUE
At 31 May 2024 3,369
At 31 May 2023 3,948

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023
and 31 May 2024 2,090,000
NET BOOK VALUE
At 31 May 2024 2,090,000
At 31 May 2023 2,090,000

The directors value the company's investment property portfolio annually at the balance sheet date. The directors assess the open market value of each property on the basis of local market conditions and their own knowledge and experience.

The historical cost of the company's investment properties was £513,108 (2023 - £513,108).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 7,329
Other debtors 1,751 1,350
1,751 8,679

KENT PROPERTY SERVICES CENTRE LIMITED (REGISTERED NUMBER: 01891983)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 14,183 14,486
Trade creditors 1,100 -
Taxation and social security 6,485 3,238
Other creditors 34,114 36,148
55,882 53,872

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 39,217 53,613

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft - 516
Bank loans 53,400 67,583
53,400 68,099

The bank loans are secured by fixed charges over the investment property of the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100