REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2024 |
FOR |
KLASS INVESTMENTS LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2024 |
FOR |
KLASS INVESTMENTS LIMITED |
KLASS INVESTMENTS LIMITED (REGISTERED NUMBER: 10929886) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
KLASS INVESTMENTS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 5 APRIL 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Medina House |
2 Station Avenue |
Bridlington |
East Yorkshire |
YO16 4LZ |
KLASS INVESTMENTS LIMITED (REGISTERED NUMBER: 10929886) |
BALANCE SHEET |
5 APRIL 2024 |
5.4.24 | 5.4.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Revaluation reserve | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
KLASS INVESTMENTS LIMITED (REGISTERED NUMBER: 10929886) |
BALANCE SHEET - continued |
5 APRIL 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
KLASS INVESTMENTS LIMITED (REGISTERED NUMBER: 10929886) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2024 |
1. | STATUTORY INFORMATION |
Klass Investments Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover consists of rental income received, excluding value added tax. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
The directors consider these valuations remain appropriate as at 5 April 2024. |
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. |
Investments |
Fixed asset investments in unlisted companies are recorded at cost. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
KLASS INVESTMENTS LIMITED (REGISTERED NUMBER: 10929886) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 5 APRIL 2024 |
4. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 6 April 2023 |
and 5 April 2024 |
NET BOOK VALUE |
At 5 April 2024 |
At 5 April 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 6 April 2023 |
and 5 April 2024 |
NET BOOK VALUE |
At 5 April 2024 |
At 5 April 2023 |
Fair value at 5 April 2024 is represented by: |
£ |
Valuation in 2021 | 216,027 |
Valuation in 2023 | 247,000 |
Cost | 2,176,973 |
2,640,000 |
If investment properties had not been revalued they would have been included at the following historical cost: |
5.4.24 | 5.4.23 |
£ | £ |
Cost | 2,176,973 | 2,176,973 |
Investment properties were valued on a fair value basis on 5 April 2023 by the directors . |
The directors consider these valuations remain appropriate as at 5 April 2024. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
5.4.24 | 5.4.23 |
£ | £ |
Other debtors |
KLASS INVESTMENTS LIMITED (REGISTERED NUMBER: 10929886) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 5 APRIL 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
5.4.24 | 5.4.23 |
£ | £ |
Taxation and social security |
Other creditors |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 5.4.24 | 5.4.23 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
Ordinary A | £1 | 24 | 24 |
Ordinary B | £1 | 24 | 24 |
Ordinary C | £1 | 24 | 24 |
Ordinary D | £1 | 24 | 24 |
196 | 196 |
9. | RESERVES |
Revaluation |
reserve |
£ |
At 6 April 2023 |
and 5 April 2024 |