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REGISTERED NUMBER: 11967568 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

KENNEDY PROPERTIES (MIDLANDS) LIMITED

KENNEDY PROPERTIES (MIDLANDS) LIMITED (REGISTERED NUMBER: 11967568)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


KENNEDY PROPERTIES (MIDLANDS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: P Jastrzebski
J Q L Morgan
S Ottaviano
J Morgan





REGISTERED OFFICE: 330 Nuneaton Road
Bulkington
Bedford
CV12 9RR





REGISTERED NUMBER: 11967568 (England and Wales)





ACCOUNTANTS: PWH Accountancy Ltd
The Counting House
High Street
Lutterworth
Leicestershire
LE17 4AY

KENNEDY PROPERTIES (MIDLANDS) LIMITED (REGISTERED NUMBER: 11967568)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 352,000 340,000

CURRENT ASSETS
Cash at bank 2,479 4,258

CREDITORS
Amounts falling due within one year 5 255,236 259,085
NET CURRENT LIABILITIES (252,757 ) (254,827 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

99,243

85,173

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 98,943 84,873
99,243 85,173

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 15 August 2024 and were signed on its behalf by:





J Q L Morgan - Director


KENNEDY PROPERTIES (MIDLANDS) LIMITED (REGISTERED NUMBER: 11967568)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Kennedy Properties (Midlands) Limited 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.

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.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant, Actual results may differ from these estimates.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue comprises the fair value of the consideration received or receivable for the rendering of services in the ordinary course of the company's activities. Revenue is shown net of VAT and trade discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities. The amount of revenue is not considered to be reliably measurable until all contingencies relating to the sale have been resolved. The company bases its estimates on historical results, taking into consideration the type of customer, the type of transaction and the specifics of each arrangement.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

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.

KENNEDY PROPERTIES (MIDLANDS) LIMITED (REGISTERED NUMBER: 11967568)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST OR VALUATION
At 1 April 2023 340,000
Revaluations 12,000
At 31 March 2024 352,000
NET BOOK VALUE
At 31 March 2024 352,000
At 31 March 2023 340,000

Cost or valuation at 31 March 2024 is represented by:

Freehold
property
£   
Valuation in 2024 352,000

If freehold property had not been revalued they would have been included at the following historical cost:

31.3.24 31.3.23
£    £   
Cost 243,950 243,950

Value of land in freehold land and buildings 243,950 243,950

Freehold property were valued on an open market basis on 31 March 2024 by the directors .

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Mortgage 189,488 189,488
Tax 127 -
Directors' current accounts 64,421 68,447
Accrued expenses 1,200 1,150
255,236 259,085

6. RELATED PARTY DISCLOSURES

During the year, total dividends of £3,000 (2023 - £6,000) were paid to the directors .

As at 31 March 2024, an amount of £64,421 (2023 - £68,447) was owed to the directors from the company. This amount is shown under creditors in the balance sheet