KINCAR ESTATES LIMITED

Company Registration Number:
00354536 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 01 April 2023

End date: 31 March 2024

KINCAR ESTATES LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2024

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 11

KINCAR ESTATES LIMITED

Company Information

for the Period Ended 31 March 2024




Director: Mr PFM King
Mr AN King
Mr SN King
Registered office: Flat 27
Oakfield Close
Amersham
Buckinghamshire
HP6 5TA
Company Registration Number: 00354536 (England and Wales)

KINCAR ESTATES LIMITED

Directors' Report Period Ended 31 March 2024

The directors present their report with the financial statements of the company for the period ended 31 March 2024

Principal Activities

The owning of property including management therof and investments.

Additional information

The Directors revalued the company’s freehold land and freehold and long leasehold property on the 31 March 2024 and in their opinion the open market value of the Company’s land is £50,000 compared to the cost of £3,668 and of the freehold and long leasehold properties is £6,850,000 compared to the costs of £3,327,080. The Directors consider there has not been any considerable change in the value of the Company’s fixed assets since the last revaluation.

Directors

The directors shown below have held office during the whole of the period from 01 April 2023 to 31 March 2024
Mr PFM King
Mr AN King
Mr SN King

This report was approved by the board of directors on 10 August 2024
And Signed On Behalf Of The Board By:

Name: Mr PFM King
Status: Director

Name: Mr AN King
Status: Director

Name: Mr SN King
Status: Director

KINCAR ESTATES LIMITED

Profit and Loss Account

for the Period Ended 31 March 2024


Notes

2024
£

2023
£
Turnover 314,603 296,272
Cost of sales ( 34,680 ) ( 16,694 )
Gross Profit or (Loss) 279,923 279,578
Income from coronavirus (COVID-19) business support grants 0 0
Administrative Expenses ( 55,607 ) ( 53,573 )
Operating Profit or (Loss) 224,316 226,005
Interest Payable and Similar Charges ( 46,154 ) ( 45,094 )
Profit or (Loss) Before Tax 178,162 180,911
Tax on Profit ( 43,265 ) ( 155,357 )
Profit or (Loss) for Period 134,897 25,554

The notes form part of these financial statements

KINCAR ESTATES LIMITED

Balance sheet

As at 31 March 2024


Notes

2024
£

2023
£
Fixed assets
Intangible assets: 4 0 0
Tangible assets: 5 6,904,929 6,904,197
Total fixed assets: 6,904,929 6,904,197
Current assets
Stocks: 0 0
Debtors: 6 8,159 4,136
Cash at bank and in hand: 48,918 87,555
Total current assets: 57,077 91,691
Creditors: amounts falling due within one year: 7 ( 146,507 ) ( 134,023 )
Net current assets (liabilities): ( 89,430 ) ( 42,332 )
Total assets less current liabilities: 6,815,499 6,861,865
Creditors: amounts falling due after more than one year: 8 ( 1,061,712 ) ( 1,197,840 )
Provision for liabilities: ( 504,400 ) ( 504,400 )
Total net assets (liabilities): 5,249,387 5,159,625

The notes form part of these financial statements

KINCAR ESTATES LIMITED

Balance sheet continued

As at 31 March 2024


Notes

2024
£

2023
£
Capital and reserves
Called up share capital: 26,550 26,550
Revaluation reserve: 9 3,064,852 3,064,852
Profit and loss account: 2,157,985 2,068,223
Shareholders funds: 5,249,387 5,159,625

For the year ending 31 March 2024 the company was entitled to exemption 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.

This report was approved by the board of directors on 10 August 2024
And Signed On Behalf Of The Board By:

Name: Mr PFM King
Status: Director

Name: Mr AN King
Status: Director

Name: Mr SN King
Status: Director

The notes form part of these financial statements

KINCAR ESTATES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover represents rental income, bank interest received and gain/loss on fixed asset investments.

    Tangible fixed assets depreciation policy

    Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
    Fixtures and fittings - 25% on reducing balance

    Valuation information and policy

    Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit or loss.

    Other accounting policies

    Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except for 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. 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 the 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 benefits.

KINCAR ESTATES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees


    2024

    2023
    Average number of employees during the period 3 3

KINCAR ESTATES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 3. Off balance sheet disclosure

    No

KINCAR ESTATES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Intangible assets

Other Total
Cost £ £
At 01 April 2023 0 0
Additions 0 0
Disposals ( 0 ) ( 0 )
Revaluations 0 0
Transfers 0 0
At 31 March 2024 0 0
Amortisation
Amortisation at 01 April 2023 0 0
Charge for year 0 0
On disposals ( 0 ) ( 0 )
Other adjustments 0 0
Amortisation at 31 March 2024 0 0
Net book value
Net book value at 31 March 2024 0 0
Net book value at 31 March 2023 0 0

KINCAR ESTATES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Tangible assets

Land & buildings Fixtures & fittings Total
Cost £ £ £
At 01 April 2023 6,904,151 6,964 6,911,115
Additions 0 0 0
Disposals ( 0 ) ( 0 ) ( 0 )
Revaluations 747 0 747
Transfers 0 0 0
At 31 March 2024 6,904,898 6,964 6,911,862
Depreciation
At 01 April 2023 - 6,918 6,918
Charge for year 0 15 15
On disposals ( 0 ) ( 0 ) ( 0 )
Other adjustments 0 0 0
At 31 March 2024 0 6,933 6,933
Net book value
At 31 March 2024 6,904,898 31 6,904,929
At 31 March 2023 6,904,151 46 6,904,197

The Directors revalued the company’s freehold land and freehold and long leasehold property on the 31 March 2024 and in their opinion the open market value of the Company’s land is £50,000 compared to the cost of £3,668 and of the freehold and long leasehold properties is £6,850,000 compared to the costs of £3,327,080. The Directors consider there has not been any considerable change in the value of the Company’s fixed assets since the last revaluation.

KINCAR ESTATES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

6. Debtors


2024
£

2023
£
Trade debtors 4,802 1,486
Prepayments and accrued income 3,357 2,650
Total 8,159 4,136

KINCAR ESTATES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

7.Creditors: amounts falling due within one year note


2024
£

2023
£
Bank loans and overdrafts 60,000 60,000
Taxation and social security 45,400 37,893
Other creditors 41,107 36,130
Total 146,507 134,023

KINCAR ESTATES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

8.Creditors: amounts falling due after more than one year


2024
£

2023
£
Bank loans and overdrafts 436,412 572,540
Other creditors 625,300 625,300
Total 1,061,712 1,197,840

The mortgage is secured over one of the company’s freehold properties. Current repayments are £60,000 per annum plus any one-off payments at the discretion of the Directors.
Other Creditors comprise Shareholders Loans. Repayment of loans and interest are at the discretion of the Directors.

KINCAR ESTATES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

9. Revaluation reserve


2024
£
Balance at 01 April 2023 3,064,852
Surplus or deficit after revaluation 0
Balance at 31 March 2024 3,064,852