Company Registration No. 11823916 (England and Wales)
KPD Realty Ltd
Unaudited accounts
for the year ended 29 February 2024
KPD Realty Ltd
Unaudited accounts
Contents
KPD Realty Ltd
Statement of financial position
as at 29 February 2024
Investment property
18,335,873
18,335,873
Cash at bank and in hand
334,406
136,215
Creditors: amounts falling due within one year
(344,872)
(211,877)
Net current assets
755,384
711,659
Total assets less current liabilities
19,091,259
19,047,534
Creditors: amounts falling due after more than one year
(130,487)
(100,103)
Provisions for liabilities
Deferred tax
(498,585)
(498,585)
Net assets
18,462,187
18,448,846
Called up share capital
50
50
Profit and loss account
18,462,137
18,448,796
Shareholders' funds
18,462,187
18,448,846
For the year ending 29 February 2024 the company was entitled to exemption from audit 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 November 2024 and were signed on its behalf by
Mr John Devine
Director
Company Registration No. 11823916
KPD Realty Ltd
Notes to the Accounts
for the year ended 29 February 2024
KPD Realty Ltd is a private company, limited by shares, registered in England and Wales, registration number 11823916. The registered office is Congress House, 14 Lyon Road, Middlesex, HA1 2EN, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. The comparatives have been reclassified to transfer Other Reserves ã18,148,499 to profit and loss account reserves as the properties were transferred from the subsidiary at fair market value by way of a dividend.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliable measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rental Income
Rental Income is recognised in the period in which the property is occupied by the tenants.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
All investment properties are carried at fair value normally determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature. Location or condition of the specific asset. No depreciation is provided for charges in fair value are recognised in the profit & Loss account. This year a full valuation was deferred due to current economic uncertainty but Director does not consider the current valuation in the accounts to be overstated.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
KPD Realty Ltd
Notes to the Accounts
for the year ended 29 February 2024
The accounts are presented in £ sterling.
Fair value at 1 March 2023
18,335,873
At 29 February 2024
18,335,873
5
Investments
Subsidiary undertakings
Valuation at 1 March 2023
2
Valuation at 29 February 2024
2
Amounts falling due within one year
Other debtors
735,873
787,321
Amounts falling due after more than one year
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
23,858
2,340
Taxes and social security
69,199
96,122
Other creditors
14,618
12,568
Loans from directors
223,997
88,847
8
Creditors: amounts falling due after more than one year
2024
2023
Amounts owed to group undertakings and other participating interests
74,103
74,103
Other creditors
56,384
26,000
Allotted, called up and fully paid:
50 Ordinary shares of £1 each
50
50
KPD Realty Ltd
Notes to the Accounts
for the year ended 29 February 2024
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).