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REGISTERED NUMBER: 11538032 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

KINGS RESIDENTIAL LIMITED

KINGS RESIDENTIAL LIMITED (REGISTERED NUMBER: 11538032)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


KINGS RESIDENTIAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: Mr R King
Mrs L King





REGISTERED OFFICE: 5 Jardine House
Harrovian Business Village
Bessborough Road
Harrow
Middlesex
HA1 3EX





REGISTERED NUMBER: 11538032 (England and Wales)





ACCOUNTANTS: David Simon Limited
Chartered Certified Accountants
5 Jardine House
Harrovian Business Village
Bessborough Road
Harrow
Middlesex
HA1 3EX

KINGS RESIDENTIAL LIMITED (REGISTERED NUMBER: 11538032)

STATEMENT OF FINANCIAL POSITION
31 AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 38,955 35,320
Investment property 5 1,535,000 1,535,000
1,573,955 1,570,320

CURRENT ASSETS
Debtors 6 877 8,186
Cash at bank 12,877 15,721
13,754 23,907
CREDITORS
Amounts falling due within one year 7 545,369 536,064
NET CURRENT LIABILITIES (531,615 ) (512,157 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,042,340

1,058,163

CREDITORS
Amounts falling due after more than one
year

8

(904,799

)

(904,794

)

PROVISIONS FOR LIABILITIES (35,680 ) (27,117 )
NET ASSETS 101,861 126,252

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 10 107,039 115,602
Retained earnings (5,278 ) 10,550
SHAREHOLDERS' FUNDS 101,861 126,252

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

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

KINGS RESIDENTIAL LIMITED (REGISTERED NUMBER: 11538032)

STATEMENT OF FINANCIAL POSITION - continued
31 AUGUST 2024


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 14 January 2025 and were signed on its behalf by:





Mr R King - Director


KINGS RESIDENTIAL LIMITED (REGISTERED NUMBER: 11538032)

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

1. STATUTORY INFORMATION

Kings Residential 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.

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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33.33% on cost and not provided

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.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 2 (2023 - NIL ) .

KINGS RESIDENTIAL LIMITED (REGISTERED NUMBER: 11538032)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023 35,734
Additions 3,635
At 31 August 2024 39,369
DEPRECIATION
At 1 September 2023
and 31 August 2024 414
NET BOOK VALUE
At 31 August 2024 38,955
At 31 August 2023 35,320

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023
and 31 August 2024 1,535,000
NET BOOK VALUE
At 31 August 2024 1,535,000
At 31 August 2023 1,535,000

Fair value at 31 August 2024 is represented by:
£   
Valuation in 2020 29,738
Valuation in 2021 25,000
Valuation in 2023 87,981
Cost 1,392,281
1,535,000

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,392,281 1,392,281

Investment properties were valued on an open market basis on 31 August 2024 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 877 8,186

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 545,369 536,064

KINGS RESIDENTIAL LIMITED (REGISTERED NUMBER: 11538032)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 904,799 904,794

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 904,799 904,794

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 904,799 904,794

The bank loans are secured on the investment properties by way of a fixed charge and contain a negative pledge.

10. RESERVES
Fair
value
reserve
£   
At 1 September 2023 115,602
Transfer (8,563 )

At 31 August 2024 107,039

11. RELATED PARTY DISCLOSURES

Included in other creditors is an amount of £Nil (2023: £165,420) advanced from a company in which the directors have an interest.