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REGISTERED NUMBER: 06867413 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 MARCH 2024

FOR

KINGLEY ESTATES LTD

KINGLEY ESTATES LTD (REGISTERED NUMBER: 06867413)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 29 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


KINGLEY ESTATES LTD

COMPANY INFORMATION
For The Year Ended 29 MARCH 2024







DIRECTORS: Mr D A Altman
Mr M S H Placks





SECRETARY: Mr D A Altman





REGISTERED OFFICE: 869 High Road
London
N12 8QA





REGISTERED NUMBER: 06867413 (England and Wales)





ACCOUNTANTS: EA
Chartered Accountants
869 High Road
London
N12 8QA

KINGLEY ESTATES LTD (REGISTERED NUMBER: 06867413)

STATEMENT OF FINANCIAL POSITION
29 MARCH 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Stocks 1,807,305 1,807,305
Debtors 4 151,026 181,511
Cash at bank and in hand 793 333
1,959,124 1,989,149
CREDITORS
Amounts falling due within one year 5 912,547 903,214
NET CURRENT ASSETS 1,046,577 1,085,935
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,046,577

1,085,935

CREDITORS
Amounts falling due after more than one
year

6

1,291,500

1,309,000
NET LIABILITIES (244,923 ) (223,065 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (245,023 ) (223,165 )
SHAREHOLDERS' FUNDS (244,923 ) (223,065 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 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 29 January 2025 and were signed on its behalf by:




Mr M S H Placks - Director



Mr D A Altman - Director


KINGLEY ESTATES LTD (REGISTERED NUMBER: 06867413)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 29 MARCH 2024

1. STATUTORY INFORMATION

Kingley Estates Ltd 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.

The financial statements have been prepared on a going concern basis as the directors are satisfied that the company will have adequate resources to meet its liabilities to third parties as they fall due.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 NIL (2023 - NIL).

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by related companies 59,738 120,047
Other debtors 91,288 61,464
151,026 181,511

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 4,665 36
Amounts owed to related companies 3,500 6,560
Taxation and social security 3,219 3,219
Other creditors 901,163 893,399
912,547 903,214

KINGLEY ESTATES LTD (REGISTERED NUMBER: 06867413)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 29 MARCH 2024

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 1,291,500 1,309,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans due in more than
5 years - 1,309,000
- 1,309,000

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,291,500 1,309,000

The loan is secured by way of fixed charge on the freehold property of the company, currently held as stock.

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29 March 2024 and 29 March 2023:

2024 2023
£    £   
Mr D A Altman
Balance outstanding at start of year 38,100 (18,800 )
Amounts advanced 49,767 72,950
Amounts repaid (33,221 ) (16,050 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 54,646 38,100

Mr M S H Placks
Balance outstanding at start of year 21,764 (17,929 )
Amounts advanced 25,549 48,743
Amounts repaid (18,721 ) (9,050 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 28,592 21,764

KINGLEY ESTATES LTD (REGISTERED NUMBER: 06867413)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 29 MARCH 2024

9. RELATED PARTY DISCLOSURES

Included in debtors, amounts falling due within one year, is an interest free amount of £28,056 (2023: £14,898) owed by Bardwell Properties Ltd. The companies are connected by virtue common control and management.

Included in debtors, amounts falling due within one year, is an interest free amount of £5,044 (2023: £5,044) owed by Bayham Street Properties Limited. The companies are connected by virtue common control and management.

Included in debtors, amounts falling due within one year, is an interest free amount of £440 (2023: £49,440) owed by Parade Developments Limited. The companies are connected by virtue common control and management.

Included in debtors, amounts falling due within one year, is an interest free amount of £24,761(2023: £46,868) owed by Yam Residential Limited. The companies are connected by virtue common control and management.

Included in debtors, amounts falling due within one year, is an interest free amount of £1,437 (2023: £1,397) owed by Georgia Estates Limited. The companies are connected by virtue common control and management.

Included in creditors, amounts falling due within one year, is an interest free amount of £3,500 (2023: £2,400 receivable) due to Hale Court Properties Limited. The companies are connected by virtue common control and management.

10. ULTIMATE CONTROLLING PARTY

During the period under review the company was not under the control of any one individual.