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REGISTERED NUMBER: 05119366 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

KINGS MORTGAGES LIMITED

KINGS MORTGAGES LIMITED (REGISTERED NUMBER: 05119366)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KINGS MORTGAGES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: S B King





SECRETARY: Mrs M J King





REGISTERED OFFICE: 2-4 New Street
Braintree
Essex
CM7 1ES





REGISTERED NUMBER: 05119366 (England and Wales)





ACCOUNTANTS: RE Group Accountants Limited
The Maltings
Rosemary Lane
Halstead
Essex
CO9 1HZ

KINGS MORTGAGES LIMITED (REGISTERED NUMBER: 05119366)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 43,006 48,104

CURRENT ASSETS
Debtors 5 77,063 36,457
Cash at bank 70,456 131,490
147,519 167,947
CREDITORS
Amounts falling due within one year 6 163,414 160,260
NET CURRENT (LIABILITIES)/ASSETS (15,895 ) 7,687
TOTAL ASSETS LESS CURRENT LIABILITIES 27,111 55,791

CREDITORS
Amounts falling due after more than one
year

7

-

(39,311

)

PROVISIONS FOR LIABILITIES (10,752 ) (12,026 )
NET ASSETS 16,359 4,454

CAPITAL AND RESERVES
Called up share capital 8 3 3
Retained earnings 16,356 4,451
SHAREHOLDERS' FUNDS 16,359 4,454

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 director acknowledges his 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.

KINGS MORTGAGES LIMITED (REGISTERED NUMBER: 05119366)

BALANCE SHEET - continued
31 MAY 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 November 2024 and were signed by:





S B King - Director


KINGS MORTGAGES LIMITED (REGISTERED NUMBER: 05119366)

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

1. STATUTORY INFORMATION

Kings Mortgages Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
The company's turnover represents the value, excluding value added tax, of goods and services supplied to customers during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Straight line over the life of the lease
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

KINGS MORTGAGES LIMITED (REGISTERED NUMBER: 05119366)

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

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 June 2023 17,693 83,219 94,580 195,492
Additions - 7,919 - 7,919
At 31 May 2024 17,693 91,138 94,580 203,411
DEPRECIATION
At 1 June 2023 17,693 81,666 48,029 147,388
Charge for year - 1,379 11,638 13,017
At 31 May 2024 17,693 83,045 59,667 160,405
NET BOOK VALUE
At 31 May 2024 - 8,093 34,913 43,006
At 31 May 2023 - 1,553 46,551 48,104

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,500 4,493
Amounts owed by group undertakings 17,343 14,819
Other debtors 57,220 17,145
77,063 36,457

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,455 -
Hire purchase contracts 39,311 10,957
Trade creditors 448 -
Taxation and social security 3,449 5,763
Other creditors 113,751 143,540
163,414 160,260

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts - 39,311

KINGS MORTGAGES LIMITED (REGISTERED NUMBER: 05119366)

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

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary A shares £1 1 1
2 Ordinary B Shares £1 2 2
3 3

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
S B King
Balance outstanding at start of year 6,845 34,771
Amounts advanced 12,643 128,409
Amounts repaid (19,554 ) (156,335 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (66 ) 6,845

Interest has been charged at the standard HMRC rate. The balance is repayable on demand.

10. ULTIMATE CONTROLLING PARTY

The controlling party is Sk Private Holdings Limited.

Registered office: 2-4 New Street, Braintree, Essex, United Kingdom, CM7 1ES