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REGISTERED NUMBER: 05297971 (England and Wales)










Unaudited Financial Statements

for the Year Ended 30 November 2023

for

KINGSLEY INVESTMENTS (UK) LTD

KINGSLEY INVESTMENTS (UK) LTD (REGISTERED NUMBER: 05297971)






Contents of the Financial Statements
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KINGSLEY INVESTMENTS (UK) LTD

Company Information
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: Dr S Moopen
Dr R Moopen





REGISTERED OFFICE: 1 Kings Avenue
London
N21 3NA





REGISTERED NUMBER: 05297971 (England and Wales)





ACCOUNTANTS: AGK Partners
Chartered Accountants
1 Kings Avenue
London
N21 3NA

KINGSLEY INVESTMENTS (UK) LTD (REGISTERED NUMBER: 05297971)

Balance Sheet
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,995,092 1,995,092

CURRENT ASSETS
Debtors 5 52,944 22,524
Cash at bank 9,802 27,269
62,746 49,793
CREDITORS
Amounts falling due within one year 6 439,971 471,046
NET CURRENT LIABILITIES (377,225 ) (421,253 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,617,867

1,573,839

CREDITORS
Amounts falling due after more than one
year

7

(765,000

)

(765,000

)

PROVISIONS FOR LIABILITIES (53,754 ) (53,754 )
NET ASSETS 799,113 755,085

CAPITAL AND RESERVES
Called up share capital 40 40
Fair value reserve 9 282,913 282,913
Retained earnings 516,160 472,132
SHAREHOLDERS' FUNDS 799,113 755,085

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

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.

KINGSLEY INVESTMENTS (UK) LTD (REGISTERED NUMBER: 05297971)

Balance Sheet - continued
30 NOVEMBER 2023


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

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 30 November 2024 and were signed on its behalf by:





Dr S Moopen - Director


KINGSLEY INVESTMENTS (UK) LTD (REGISTERED NUMBER: 05297971)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Kingsley Investments (UK) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

the estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and future periods. There are no significant judgements or estimates involved in the preparation of the financial statements.

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.

Financial instruments
Basic financial assets and liabilities, which include debtors, creditors, cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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.


KINGSLEY INVESTMENTS (UK) LTD (REGISTERED NUMBER: 05297971)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 1,995,092
NET BOOK VALUE
At 30 November 2023 1,995,092
At 30 November 2022 1,995,092

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2007 432,913
Valuation in 2008 (100,000 )
Valuation in 2010 (125,000 )
Valuation in 2011 25,000
Valuation in 2012 50,000
Cost 1,712,179
1,995,092

If Investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 1,712,179 1,712,179

Investment property was valued on an open market basis on 30 November 2022 by the directors .

KINGSLEY INVESTMENTS (UK) LTD (REGISTERED NUMBER: 05297971)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by connected company 30,944 -
Other debtors 22,000 22,524
52,944 22,524

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 12,855 -
Taxation and social security 11,838 21,985
Other creditors 415,278 449,061
439,971 471,046

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 765,000 765,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 765,000 765,000

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 765,000 765,000

Bank loan are secured by way of fixed charge over the investment property of the company and contains negative pledge.

9. RESERVES
Fair
value
reserve
£   
At 1 December 2022
and 30 November 2023 282,913

KINGSLEY INVESTMENTS (UK) LTD (REGISTERED NUMBER: 05297971)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

10. RELATED PARTY DISCLOSURES

Included in debtors is an amount of £30,944 (2022: £Nil) due from a connected company. The loan is interest free and repayable on demand.

Included in creditors, falling due within one year is an amount of £400,310 (2022: £443,310) due to the director of the company. This loan is interest free and repayable on demand.