Registered number
06449942
KWR Pro Limited
Unaudited Filleted Accounts
31 March 2024
KWR Pro Limited
Registered number: 06449942
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 - 769
Investment property 4 746,000 746,000
746,000 746,769
Current assets
Cash at bank and in hand 1,866 5,183
Creditors: amounts falling due within one year 5 (369,219) (378,063)
Net current liabilities (367,353) (372,880)
Total assets less current liabilities 378,647 373,889
Creditors: amounts falling due after more than one year 6 (14,846) (35,635)
Provisions for liabilities (6,820) (4,905)
Net assets 356,981 333,349
Capital and reserves
Called up share capital 100 100
Non-distributable profit reserve 20,458 22,096
Profit and loss account 336,423 311,153
Shareholders' funds 356,981 333,349
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 S Church
Director
Approved by the board on 27 November 2024
KWR Pro Limited
Notes to the Accounts
for the year ended 31 March 2024
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 represents net invoiced sales, excluding value added taxes.
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:
Fixtures and equipment 20% straight line
Investment properties
Investment properties are carried at fair value determined by the directors, derived from current market values of comparable properties. No depreciation is provided, and fair value changes in investment properties are recorded in the non-distributable profit reserve.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 12,819
At 31 March 2024 12,819
Depreciation
At 1 April 2023 12,050
Charge for the year 769
At 31 March 2024 12,819
Net book value
At 31 March 2024 -
At 31 March 2023 769
4 Investment properties
Other
investments
£
Valuation
At 1 April 2023 746,000
At 31 March 2024 746,000
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 20,184 19,579
Taxation and social security costs 8,776 7,134
Other creditors 340,259 351,350
369,219 378,063
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 14,846 35,635
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 74,794 100,514
The bank loan is secured by a first legal mortgage over the freehold properties. The bank loan is also secured by a debenture comprising fixed and floating charges over all assets and undertakings for both KWR Pro Limited and Newtown Plastics Limited. An unlimited composite company guarantee has been given by KWR Pro Limited and Newtown Plastics Limited to secure all liabilities of each other.
8 Other information
KWR Pro Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
29 Mochdre Industrial Estate
Newtown
Powys
SY16 4LE
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