Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-292023-03-01falseNo description of principal activity33truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09493391 2023-03-01 2024-02-29 09493391 2022-03-01 2023-02-28 09493391 2024-02-29 09493391 2023-02-28 09493391 c:Director1 2023-03-01 2024-02-29 09493391 c:Director2 2023-03-01 2024-02-29 09493391 c:Director3 2023-03-01 2024-02-29 09493391 c:RegisteredOffice 2023-03-01 2024-02-29 09493391 d:CurrentFinancialInstruments 2024-02-29 09493391 d:CurrentFinancialInstruments 2023-02-28 09493391 d:Non-currentFinancialInstruments 2024-02-29 09493391 d:Non-currentFinancialInstruments 2023-02-28 09493391 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 09493391 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 09493391 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 09493391 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 09493391 d:ShareCapital 2024-02-29 09493391 d:ShareCapital 2023-02-28 09493391 d:RetainedEarningsAccumulatedLosses 2024-02-29 09493391 d:RetainedEarningsAccumulatedLosses 2023-02-28 09493391 c:FRS102 2023-03-01 2024-02-29 09493391 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 09493391 c:FullAccounts 2023-03-01 2024-02-29 09493391 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 09493391 6 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure
Company registration number: 09493391







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
29 FEBRUARY 2024


KINSHERON DEVELOPMENTS LIMITED






































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KINSHERON DEVELOPMENTS LIMITED
 


 
COMPANY INFORMATION


Directors
B. M. Wooding 
K. W. Wooding 
T. J. Wooding 




Registered number
09493391



Registered office
Ashcombe House
5 The Crescent

Leatherhead

Surrey

KT22 8DY




Accountants
Menzies LLP
Chartered Accountants

Ashcombe House

5 The Crescent

Leatherhead

Surrey

KT22 8DY





 


KINSHERON DEVELOPMENTS LIMITED
 



CONTENTS



Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6


 


KINSHERON DEVELOPMENTS LIMITED
REGISTERED NUMBER:09493391



STATEMENT OF FINANCIAL POSITION
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
2
2

  
2
2

Current assets
  

Stocks
  
3,842,961
3,769,592

Debtors: amounts falling due within one year
 5 
184,795
173,253

Cash at bank and in hand
  
38,722
447,121

  
4,066,478
4,389,966

Creditors: amounts falling due within one year
 6 
(265,697)
(919,199)

Net current assets
  
 
 
3,800,781
 
 
3,470,767

Total assets less current liabilities
  
3,800,783
3,470,769

Creditors: amounts falling due after more than one year
 7 
(313,000)
-

  

Net assets
  
3,487,783
3,470,769


Capital and reserves
  

Allotted, called up and fully paid share capital
  
100
100

Profit and loss account
  
3,487,683
3,470,669

  
3,487,783
3,470,769


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
 
Page 1

 


KINSHERON DEVELOPMENTS LIMITED
REGISTERED NUMBER:09493391


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 29 FEBRUARY 2024


The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


T. J. Wooding
Director

Date: 28 November 2024

The notes on pages 3 to 6 form part of these financial statements.
Page 2

 


KINSHERON DEVELOPMENTS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Kinsheron Developments Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office is disclosed on the company information page. The principal place of business is 157-159 Walton Road, East Molesey, Surrey, KT8 0DX.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006  and the parent and group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Revenue

Revenue consists of rental income, property sales and the sale of prestige motor vehicles. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.4

Operating leases: the Company as lessor

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

Amounts paid and payable as an incentive to sign an operating lease are recognised as a reduction to income over the lease term on a straight-line basis, unless another systematic basis is representative of the time pattern over which the lessor's benefit from the leased asset is diminished.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 


KINSHERON DEVELOPMENTS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

Valuation of investments

Investments held as fixed assets are shown at cost less provision for impairment.

  
2.8

Stock

Stock is valued at the lower of cost and net realisable value, which includes costs directly attributable to, and overheads on, incomplete assignments. A provision is made for irrecoverable costs where appropriate.

 
2.9

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 4

 


KINSHERON DEVELOPMENTS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Fixed asset investments








Investments in subsidiary companies

£



Cost or valuation


At 1 March 2023
2



At 29 February 2024
2





5.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
-
96,100

Other debtors
175,676
74,947

Prepayments and accrued income
9,119
2,206

184,795
173,253



6.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Bank loans
8,000
629,083

Trade creditors
10,690
670

Amounts owed to group undertakings
14,032
26,535

Corporation tax
4,078
17,546

Other taxation and social security
3,762
12,968

Other creditors
192,788
202,220

Accruals and deferred income
32,347
30,177

265,697
919,199


The bank loans are secured on a floating charge over the stocks of the company. Interest is variable at a margin of 2.75% over the bank of England base rate.

Page 5

 


KINSHERON DEVELOPMENTS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

7.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Bank loans
313,000
-

313,000
-


The bank loans are secured on a floating charge over the stocks of the company.  Interest is variable at a margin of 2.75% over the bank of England base rate.


8.


Transactions with the directors

The following transactions took place with the directors during the year:

29 February
28 February
2024
2023
£
£
Amount owed to the directors at the beginning of the year

(119,437)

-
 
Amounts transferred from subsidiary during the year

-

(106,996)
 
Amounts advanced

(9,453)

(17,537)
 
Amounts repaid

15,704

5,096
 
Amount owed to the directors at the end of the year
(113,186)

(119,437)
 

Interest has been charged on T. J. Wooding's directors loan at 9.5%. No interest has been charged on B. M. Wooding's directors loan.


9.


Related party transactions

At 29 February 2024, the company owed its subsidiary company £14,032 (2023 - £26,535). No interest has been charged on this loan.
The company was owed £139,714 (2023 - £58,281) from a company under the control of T. J. Wooding and K. W. Wooding. No interest has been charged on this loan.
A loan of £42,986 (2023 - £52,689) was owed to a close family relation to the company directors, no interest was charged on this loan.

 
Page 6