Kew Homes NE Limited 10588566 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of buying and selling of own real estate. Digita Accounts Production Advanced 6.30.9574.0 true true 10588566 2023-04-01 2024-03-31 10588566 2024-03-31 10588566 bus:OrdinaryShareClass1 2024-03-31 10588566 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 10588566 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 10588566 core:FurnitureFittingsToolsEquipment 2024-03-31 10588566 bus:SmallEntities 2023-04-01 2024-03-31 10588566 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10588566 bus:FilletedAccounts 2023-04-01 2024-03-31 10588566 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10588566 bus:RegisteredOffice 2023-04-01 2024-03-31 10588566 bus:Director1 2023-04-01 2024-03-31 10588566 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 10588566 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10588566 core:RevaluationReserve core:LandBuildings 2023-04-01 2024-03-31 10588566 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 10588566 core:LandBuildings 2023-04-01 2024-03-31 10588566 core:OfficeEquipment 2023-04-01 2024-03-31 10588566 countries:AllCountries 2023-04-01 2024-03-31 10588566 2023-03-31 10588566 core:FurnitureFittingsToolsEquipment 2023-03-31 10588566 2022-04-01 2023-03-31 10588566 2023-03-31 10588566 bus:OrdinaryShareClass1 2023-03-31 10588566 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 10588566 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 10588566 core:FurnitureFittingsToolsEquipment 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10588566

Kew Homes NE Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Kew Homes NE Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Kew Homes NE Limited

Company Information

Director

L Calvert

Registered office

196 York Road
Hartlepool
Cleveland
TS26 9EB

Accountants

Balance Accounts Limited
Chartered Certified Accountants
4 Beau Street
Bath
BA1 1QY

 

Kew Homes NE Limited

(Registration number: 10588566)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

372

61

Investment property

5

391,130

296,130

 

391,502

296,191

Current assets

 

Cash at bank and in hand

 

1,726

20,944

Creditors: Amounts falling due within one year

6

(36,702)

(38,982)

Net current liabilities

 

(34,976)

(18,038)

Total assets less current liabilities

 

356,526

278,153

Creditors: Amounts falling due after more than one year

6

(309,030)

(247,805)

Provisions for liabilities

(1,657)

(13)

Net assets

 

45,839

30,335

Capital and reserves

 

Called up share capital

7

100

100

Revaluation reserve

8,350

-

Retained earnings

37,389

30,235

Shareholders' funds

 

45,839

30,335

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

Kew Homes NE Limited

(Registration number: 10588566)
Balance Sheet as at 31 March 2024

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 4 October 2024
 

.........................................
L Calvert
Director

 

Kew Homes NE Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
196 York Road
Hartlepool
Cleveland
TS26 9EB
England

These financial statements were authorised for issue by the director on 4 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and 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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Kew Homes NE Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Kew Homes NE Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

 

Kew Homes NE Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

429

429

Additions

489

489

At 31 March 2024

918

918

Depreciation

At 1 April 2023

368

368

Charge for the year

178

178

At 31 March 2024

546

546

Carrying amount

At 31 March 2024

372

372

At 31 March 2023

61

61

5

Investment properties

2024
£

At 1 April

296,130

Additions

86,650

Fair value adjustments

8,350

At 31 March

391,130

During the year the newly acquired property, 197 Catcote, was revalued by an independent valuer. The other properties have not been revalued as they have only been held for a short time and their value is unlikely to have changed significantly.

 

Kew Homes NE Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

1,400

1,400

Amounts due to related parties

24,639

28,641

Accruals

 

8,438

7,106

Income tax liability

2,225

1,835

 

36,702

38,982

Due after one year

 

Loans and borrowings

309,030

247,805

Creditors: amounts falling due after more than one year

Creditors include bank loans which are secured of £307,397 (2023 - £244,772).

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

8

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

8,350

8,350