Caseware UK (AP4) 2023.0.135 2023.0.135 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-04-01falseNo description of principal activity33truetruefalse 08986347 2023-04-01 2024-03-31 08986347 2022-04-01 2023-03-31 08986347 2024-03-31 08986347 2023-03-31 08986347 c:Director3 2023-04-01 2024-03-31 08986347 d:FurnitureFittings 2023-04-01 2024-03-31 08986347 d:FurnitureFittings 2024-03-31 08986347 d:FurnitureFittings 2023-03-31 08986347 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08986347 d:LeaseholdInvestmentProperty 2023-04-01 2024-03-31 08986347 d:LeaseholdInvestmentProperty 2024-03-31 08986347 d:LeaseholdInvestmentProperty 2023-03-31 08986347 d:CurrentFinancialInstruments 2024-03-31 08986347 d:CurrentFinancialInstruments 2023-03-31 08986347 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 08986347 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08986347 d:ShareCapital 2024-03-31 08986347 d:ShareCapital 2023-03-31 08986347 d:RetainedEarningsAccumulatedLosses 2024-03-31 08986347 d:RetainedEarningsAccumulatedLosses 2023-03-31 08986347 c:FRS102 2023-04-01 2024-03-31 08986347 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08986347 c:FullAccounts 2023-04-01 2024-03-31 08986347 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08986347 2 2023-04-01 2024-03-31 08986347 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 08986347









Kingscross Properties Limited







Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 March 2024

 
Kingscross Properties Limited
Registered number: 08986347

Statement of Financial Position
As at 31 March 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
24,115
10,076

Investment property
 5 
628,504
715,701

  
652,619
725,777

Current assets
  

Debtors: amounts falling due within one year
 6 
405
90

Bank and cash balances
  
101,930
1,149,377

  
102,335
1,149,467

Creditors: amounts falling due within one year
 7 
(28,542)
(1,242,057)

Net current assets/(liabilities)
  
 
 
73,793
 
 
(92,590)

Deferred tax
  
(5,509)
(1,621)

Net assets
  
720,903
631,566


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
719,903
630,566

  
720,903
631,566


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.

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: 


R K B Purvis
Director

Date: 2 December 2024

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
Kingscross Properties Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 March 2024

1.


General information

Kingscross Properties Limited is a private company limited by share capital incorporated in England, registered number 08986347. The address of the registered office is Creamline Dairies, Mellors Road, Trafford Park, Manchester, M17 1PB. 

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

Turnover comprises rental income from investment properties and is recognised on a straight-line basis over the term of the lease. The aggregate cost of incentives provided to lessees is recognised as a reduction of rental income over the lease term on a straight-line basis. 

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 2

 
Kingscross Properties Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 March 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Investment property

Investment property is carried at fair value. No depreciation is provided. Changes in fair value are recognised in the statement of income and retained earnings. 

Page 3

 
Kingscross Properties Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 March 2024

3.


Employees




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


4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 April 2023
32,079


Additions
17,525


Disposals
(878)



At 31 March 2024

48,726



Depreciation


At 1 April 2023
22,003


Charge for the year on owned assets
3,330


Disposals
(722)



At 31 March 2024

24,611



Net book value



At 31 March 2024
24,115



At 31 March 2023
10,076


5.


Investment property


Investment property

£



Valuation


At 1 April 2023
715,701


Disposals
(87,197)



At 31 March 2024
628,504

The 2024 valuations were made by the directors, on an open market value for existing use basis.




Page 4

 
Kingscross Properties Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 March 2024

6.


Debtors

2024
2023
£
£


Prepayments and accrued income
405
90



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
2,309
-

Corporation tax
21,272
7,384

Other creditors
1,264
1,231,080

Accruals and deferred income
3,697
3,593

28,542
1,242,057


 
Page 5