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Registration number: 13341156

Kenton Property Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Kenton Property Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Kenton Property Limited

Company Information

Directors

I Vogt

K B Simpson

Registered office

Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

Accountants

Burton Sweet Limited
Chartered Accountants & Business Advisers
Cooper House
Lower Charlton Estate
Shepton Mallet
Somserset
BA4 5QE

 

Kenton Property Limited

(Registration number: 13341156)
Balance Sheet
30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,896

3,519

Investment property

5

395,896

212,065

 

398,792

215,584

Current assets

 

Cash at bank and in hand

 

89,426

1,220

Creditors: Amounts falling due within one year

6

(230,699)

(143,862)

Net current liabilities

 

(141,273)

(142,642)

Total assets less current liabilities

 

257,519

72,942

Creditors: Amounts falling due after more than one year

6

(222,975)

(77,673)

Net assets/(liabilities)

 

34,544

(4,731)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

34,444

(4,831)

Shareholders' funds/(deficit)

 

34,544

(4,731)

 

Kenton Property Limited

(Registration number: 13341156)
Balance Sheet
30 April 2024

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 January 2025 and signed on its behalf by:
 

.........................................
I Vogt
Director

.........................................
K B Simpson
Director

 

Kenton Property Limited

Notes to the Unaudited Financial Statements
Year Ended 30 April 2024

1

General information

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

The address of its registered office is:
Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

These financial statements were authorised for issue by the Board on 27 January 2025.

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 provision of services in the ordinary course of the company’s activities.

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.

 

Kenton Property Limited

Notes to the Unaudited Financial Statements
Year Ended 30 April 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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

Fixtures and fittings

15% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The valuation is based on 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.

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.

3

Staff numbers

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

 

Kenton Property Limited

Notes to the Unaudited Financial Statements
Year Ended 30 April 2024

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 May 2023

4,144

4,144

At 30 April 2024

4,144

4,144

Depreciation

At 1 May 2023

625

625

Charge for the year

623

623

At 30 April 2024

1,248

1,248

Carrying amount

At 30 April 2024

2,896

2,896

At 30 April 2023

3,519

3,519

5

Investment properties

2024
£

At 1 May

212,065

Additions

124,539

Fair value adjustments

59,292

At 30 April

395,896

 

Kenton Property Limited

Notes to the Unaudited Financial Statements
Year Ended 30 April 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

984

894

Other creditors

229,715

142,968

230,699

143,862

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

222,975

77,673

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

222,975

77,673

Bank borrowings

The carrying amount at year end is £222,975 (2023 - £77,673).

The mortage is secured over the property.