Registered number
11854551
KANSO PROPERTIES LIMITED
Unaudited Filleted Accounts
31 March 2024
KANSO PROPERTIES LIMITED
Company Information
Director
Mr M Harris
Accountants
Key Business Consultants LLP
13 Whitchurch Lane
Edgware
HA8 6JZ
Bankers
Barclays Bank UK plc
Registered office
20 Victoria Street
Loughborough
LE11 2EN
Registered number
11854551
KANSO PROPERTIES LIMITED
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of KANSO PROPERTIES LIMITED for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of KANSO PROPERTIES LIMITED for the year ended 31 March 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance
Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF.
Key Business Consultants LLP
Chartered Accountants
13 Whitchurch Lane
Edgware
HA8 6JZ
11 November 2024
KANSO PROPERTIES LIMITED
Registered number: 11854551
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 626,558 627,911
Current assets
Debtors 4 11,601 11,489
Cash at bank and in hand 2,034 8,886
13,635 20,375
Creditors: amounts falling due within one year 5 (194,805) (192,292)
Net current liabilities (181,170) (171,917)
Total assets less current liabilities 445,388 455,994
Creditors: amounts falling due after more than one year 6 (473,760) (472,315)
Net liabilities (28,372) (16,321)
Capital and reserves
Called up share capital 1 1
Revaluation reserve 8 20,000 20,000
Profit and loss account (48,373) (36,322)
Shareholder's funds (28,372) (16,321)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M Harris
Director
Approved by the board on 11 November 2024
KANSO PROPERTIES LIMITED
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).The accounts have been prepared on a going concern basis due to shareholder's continued support.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings No depreciation
Fixtures and fittings 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
1 Accounting policies (cont.)
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Fixtures & Fittings Total
£ £ £
Cost
At 1 April 2023 622,500 7,202 629,702
At 31 March 2024 622,500 7,202 629,702
Depreciation
At 1 April 2023 - 1,791 1,791
Charge for the year - 1,353 1,353
At 31 March 2024 - 3,144 3,144
Net book value
At 31 March 2024 622,500 4,058 626,558
At 31 March 2023 622,500 5,411 627,911
Freehold land and buildings: 2024 2023
£ £
Historical cost 622,500 602,500
Cumulative depreciation based on historical cost 36,550 24,100
585,950 578,400
4 Debtors 2024 2023
£ £
Trade debtors 1,479 1,352
Deferred tax asset 10,122 10,122
Other debtors - 15
11,601 11,489
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 6,000 6,000
Trade creditors 134 296
Other creditors 188,671 185,996
194,805 192,292
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 473,760 472,315
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 479,760 478,315
The bank loans are secured against the properties.
8 Revaluation reserve 2024 2023
£ £
At 1 April 2023 20,000 -
Gain on revaluation of land and buildings - 20,000
At 31 March 2024 20,000 20,000
9 Related party transactions
At 31 March 2024, the company owes the director, Mr M Harris, £64,874 (2023: £64,814).

At 31 March 2024, the company owes Reality Check Management Ltd £121,499 (2023: £121,183), a company under common control.

At 31 March 2024, the company is owed by Schews Ltd £nil (2023: £15), a company under common control.
10 Controlling party
The ultimate control throughout the year remained with the Director, Mr M Harris.
11 Other information
KANSO PROPERTIES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
20 Victoria Street
Loughborough
LE11 2EN
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