Registered number
10613942
KSG PROPERTY INVESTMENTS LTD
Filleted Accounts
31 March 2024
KSG PROPERTY INVESTMENTS LTD
Registered number: 10613942
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,046,560 1,004,840
Current assets
Cash at bank and in hand 14,453 8,830
Net current assets 14,453 8,830
Total assets less current liabilities 1,061,013 1,013,670
Creditors: amounts falling due after more than one year 4 (892,748) (878,609)
Provisions for liabilities (37,414) (28,864)
Net assets 130,851 106,197
Capital and reserves
Called up share capital 1 1
Profit and loss account 130,850 106,196
Shareholders' funds 130,851 106,197
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.
K.S.Gill
Director
Approved by the board on 12 December 2024
KSG PROPERTY INVESTMENTS LTD
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 is measured at the fair value of the consideration received or receivable for rental income.
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:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investment Properties are properties, which are held either to earn rental income or for capital appreciation or for both. Investment properties are recognised initially at cost.Subsequently it is measured at fair value at the reprorting date.The surplus or deficit on revaluation is recognised in the profit and loss account.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 995,000 2,850 16,400 1,014,250
Additions - - - -
Surplus on revaluation 45,000 - - 45,000
At 31 March 2024 1,040,000 2,850 16,400 1,059,250
Depreciation
At 1 April 2023 - 2,850 6,560 9,410
Charge for the year - - 3,280 3,280
At 31 March 2024 - 2,850 9,840 12,690
Net book value
At 31 March 2024 1,040,000 - 6,560 1,046,560
At 31 March 2023 995,000 - 9,840 1,004,840
The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 March 2024 by the director.The valuation was made on an open market basis by reference to market evidence of transaction prices for similar properties
4 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 462,788 467,235
Other creditors 429,960 411,374
892,748 878,609
5 Other information
KSG PROPERTY INVESTMENTS LTD is a private company limited by shares and incorporated in England. Its registered office is:
192 Ferrymead Avenue
Greenford
Middlesex
UB6 9TW
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