Registered number
11819462
K&E Property Limited
Filleted Accounts
29 February 2024
K&E Property Limited
Registered number: 11819462
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 335,495 141,730
Current assets
Cash at bank and in hand 97,620 164,410
Creditors: amounts falling due within one year 4 (122,662) (117,994)
Net current (liabilities)/assets (25,042) 46,416
Total assets less current liabilities 310,453 188,146
Creditors: amounts falling due after more than one year 5 (325,830) (200,925)
Net liabilities (15,377) (12,779)
Capital and reserves
Called up share capital 1 1
Profit and loss account (15,378) (12,780)
Shareholders' funds (15,377) (12,779)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
E Underwood
Director
Approved by the board on 11 November 2024
K&E Property Limited
Notes to the Accounts
for the year ended 29 February 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).
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 None provided
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 4 years
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 March 2023 141,730 - - 141,730
Additions 179,364 1,384 13,294 194,042
At 29 February 2024 321,094 1,384 13,294 335,772
Depreciation
Charge for the year - 277 - 277
At 29 February 2024 - 277 - 277
Net book value
At 29 February 2024 321,094 1,107 13,294 335,495
At 28 February 2023 141,730 - - 141,730
4 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 1,682 1,992
Trade creditors 3,445 630
Taxation and social security costs 287 287
Other creditors 117,248 115,085
122,662 117,994
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 325,830 200,925
6 Controlling party
The company is controlled by Miss E Underwood and Mr K Crookes.
7 Other information
K&E Property Limited is a private company limited by shares and incorporated in England. Its registered office is:
53 Dove Road
Wombwell
Barnsley
S73 0SY
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