Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31false2023-02-01falseNo description of principal activity22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05188201 2023-02-01 2024-01-31 05188201 2022-02-01 2023-01-31 05188201 2024-01-31 05188201 2023-01-31 05188201 c:CompanySecretary1 2023-02-01 2024-01-31 05188201 c:Director1 2023-02-01 2024-01-31 05188201 c:Director2 2023-02-01 2024-01-31 05188201 c:RegisteredOffice 2023-02-01 2024-01-31 05188201 d:Buildings 2023-02-01 2024-01-31 05188201 d:Buildings 2024-01-31 05188201 d:Buildings 2023-01-31 05188201 d:Buildings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 05188201 d:OfficeEquipment 2023-02-01 2024-01-31 05188201 d:OfficeEquipment 2024-01-31 05188201 d:OfficeEquipment 2023-01-31 05188201 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 05188201 d:ComputerEquipment 2023-02-01 2024-01-31 05188201 d:ComputerEquipment 2024-01-31 05188201 d:ComputerEquipment 2023-01-31 05188201 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 05188201 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 05188201 d:CurrentFinancialInstruments 2024-01-31 05188201 d:CurrentFinancialInstruments 2023-01-31 05188201 d:Non-currentFinancialInstruments 2024-01-31 05188201 d:Non-currentFinancialInstruments 2023-01-31 05188201 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 05188201 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 05188201 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 05188201 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 05188201 d:ShareCapital 2024-01-31 05188201 d:ShareCapital 2023-01-31 05188201 d:RetainedEarningsAccumulatedLosses 2024-01-31 05188201 d:RetainedEarningsAccumulatedLosses 2023-01-31 05188201 c:FRS102 2023-02-01 2024-01-31 05188201 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 05188201 c:FullAccounts 2023-02-01 2024-01-31 05188201 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 05188201 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure
Company registration number: 05188201







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JANUARY 2024


KINSELLA BROTHERS DEVELOPMENTS LIMITED






































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KINSELLA BROTHERS DEVELOPMENTS LIMITED
 


 
COMPANY INFORMATION


Directors
D Kinsella 
P Kinsella 




Company secretary
D Kinsella



Registered number
05188201



Registered office
Magna House
18-32 London Road

Staines-Upon-Thames

TW18 4BP




Accountants
Menzies LLP
Chartered Accountants

Magna House

18-32 London Road

Staines-Upon-Thames

TW18 4BP





 


KINSELLA BROTHERS DEVELOPMENTS LIMITED
 



CONTENTS



Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6


 


KINSELLA BROTHERS DEVELOPMENTS LIMITED
REGISTERED NUMBER:05188201



STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,116
3,419

Investment property
  
1,920,000
1,170,000

  
1,923,116
1,173,419

Current assets
  

Debtors: amounts falling due within one year
 5 
45,632
45,111

Cash at bank and in hand
  
35
1,628

  
45,667
46,739

Creditors: amounts falling due within one year
 6 
(1,473,841)
(641,708)

Net current liabilities
  
 
 
(1,428,174)
 
 
(594,969)

Total assets less current liabilities
  
494,942
578,450

Creditors: amounts falling due after more than one year
 7 
(486,856)
(1,429,896)

  

Net assets/(liabilities)
  
8,086
(851,446)


Capital and reserves
  

Called up share capital 
  
90
90

Profit and loss account
  
7,996
(851,536)

  
8,086
(851,446)


Page 1

 


KINSELLA BROTHERS DEVELOPMENTS LIMITED
REGISTERED NUMBER:05188201


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




D Kinsella
Director
Date: 30 January 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 


KINSELLA BROTHERS DEVELOPMENTS LIMITED
 


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

1.


General information

Kinsella Brothers Developments Limited is a company limited by shares incorporated in England and Wales. The registered office is given in the company information page of these financial statements. The principal place of business for the company is 63 Anerley Road, London, SE19 2AS.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years unless otherwise stated.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

As at 31 January 2024 the company has net assets of £8,086 (2023: net liabilities of £851,446). Due to the ongoing support of the directors, and expectation regarding future trading performance, the company expects to meet its liabilities as they fall due, therefore the company has prepared its financial statements on a going concern basis. There have been no significant judgements and estimates used in the financial statements that have impacted upon this assessment.

 
2.3

Revenue

Revenue is received from rent through letting out their residential and commercial property, as well as through developing property. Revenue is recognised as soon as rent is received and when property is revalued or sold at a profit.  Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is received from rent through letting out their residential and commercial property, as well as through developing property. Revenue is recognised as soon as rent is received and when property is revalued or sold at a profit.  Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 


KINSELLA BROTHERS DEVELOPMENTS LIMITED
 


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

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
5%
straight line
Equipment
-
15%
reducing balance
Computer equipment
-
15%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2). 

Page 4

 


KINSELLA BROTHERS DEVELOPMENTS LIMITED
 


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

4.


Tangible fixed assets





Freehold property
Equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 February 2023
3,000
2,062
1,423
6,485



At 31 January 2024

3,000
2,062
1,423
6,485



Depreciation


At 1 February 2023
600
1,942
524
3,066


Charge for the year on owned assets
150
18
135
303



At 31 January 2024

750
1,960
659
3,369



Net book value



At 31 January 2024
2,250
102
764
3,116



At 31 January 2023
2,400
120
899
3,419

Page 5

 


KINSELLA BROTHERS DEVELOPMENTS LIMITED
 


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

5.


Debtors

2024
2023
£
£


Other debtors
34,723
34,809

Prepayments and accrued income
10,909
10,302

45,632
45,111



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,141
9,891

Trade creditors
11,976
5,904

Other taxation and social security
40
375

Other creditors
1,442,684
615,538

Accruals and deferred income
9,000
10,000

1,473,841
641,708


Included within bank loans due within one year is £10,141 which is guaranteed under the Bounce Back Loan Scheme (BBLS) by the UK Government.


7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
486,856
1,429,896

486,856
1,429,896


Included within bank loans due after more than one year is £14,754 which is guaranteed under the Bounce Back Loan Scheme (BBLS) by the UK Government.
The mortgage lender has negative pledge charges on all assets held by the company. 


8.


Related party transactions

At the balance sheet date, the company owed £1,410,505 to the directors (2023: £615,538). This amount is
considered to be interest free and payable on demand.

 
Page 6