Registered number
07648221
K V PROPERTIES LIMITED
Filleted Accounts
30 November 2023
K V PROPERTIES LIMITED
Registered number: 07648221
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 521,820 225,000
Current assets
Stocks 724,752 724,752
Debtors 4 2,258 2,258
Cash at bank and in hand 59,486 30,979
786,496 757,989
Creditors: amounts falling due within one year 5 (49,741) (43,564)
Net current assets 736,755 714,425
Total assets less current liabilities 1,258,575 939,425
Creditors: amounts falling due after more than one year 6 (1,041,718) (750,592)
Net assets 216,857 188,833
Capital and reserves
Called up share capital 100 100
Profit and loss account 216,757 188,733
Shareholders' funds 216,857 188,833
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.
Mr Kishor Vaghela
Director
Approved by the board on 27 November 2024
K V PROPERTIES LIMITED
Notes to the Accounts
for the year ended 30 November 2023
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:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Investments
Other
investments
£
Cost
At 1 December 2022 225,000
Additions 296,820
At 30 November 2023 521,820
4 Debtors 2023 2022
£ £
Trade debtors 2,258 2,258
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 2,910 1,455
Corporation tax 6,573 5,370
Other creditors 40,258 36,739
49,741 43,564
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 7,705 10,579
Amounts owed to group undertakings and undertakings in which the company has a participating interest 1,034,013 740,013
1,041,718 750,592
7 Controlling party
The company is controlled by Mr Kishor Vaghela by virtue of his 100% share holding in the company.
8 Other information
K V PROPERTIES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
15 Berry Hills
Stanmore
London
United Kingdom
HA7 4NY
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