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REGISTERED NUMBER: 05628948 (England and Wales)











Financial Statements

for the Year Ended 31 March 2024

for

KINGSTON MORTGAGE SERVICES LIMITED

KINGSTON MORTGAGE SERVICES LIMITED (REGISTERED NUMBER: 05628948)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KINGSTON MORTGAGE SERVICES LIMITED

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs S J Poore
Mr J L Poore
Mr C J Poore





SECRETARY: Ms P Poore





REGISTERED OFFICE: Ashley House
136/138 The Broadway
Tolworth
Surrey
KT6 7JD





REGISTERED NUMBER: 05628948 (England and Wales)





ACCOUNTANTS: Jeff Lermer & Associates
Chartered Accountants
42 Lytton Road
Barnet
Hertfordshire
EN5 5BY

KINGSTON MORTGAGE SERVICES LIMITED (REGISTERED NUMBER: 05628948)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 33,853 35,373
33,853 35,373

CURRENT ASSETS
Debtors 6 516,383 540,850
Cash at bank 55 55
516,438 540,905
CREDITORS
Amounts falling due within one year 7 454,405 361,136
NET CURRENT ASSETS 62,033 179,769
TOTAL ASSETS LESS CURRENT
LIABILITIES

95,886

215,142

CREDITORS
Amounts falling due after more than one year 8 94,579 156,777
NET ASSETS 1,307 58,365

CAPITAL AND RESERVES
Called up share capital 10 1,030 1,030
Retained earnings 277 57,335
SHAREHOLDERS' FUNDS 1,307 58,365

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

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

KINGSTON MORTGAGE SERVICES LIMITED (REGISTERED NUMBER: 05628948)

Balance Sheet - continued
31 March 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 30 January 2025 and were signed on its behalf by:





Mr C J Poore - Director


KINGSTON MORTGAGE SERVICES LIMITED (REGISTERED NUMBER: 05628948)

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

1. STATUTORY INFORMATION

Kingston Mortgage Services 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of three years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on reducing balance

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 balance sheet date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future and have therefore used the going concern basis in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

KINGSTON MORTGAGE SERVICES LIMITED (REGISTERED NUMBER: 05628948)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 238,000
AMORTISATION
At 1 April 2023
and 31 March 2024 238,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 25,650 12,689 7,393 45,732
DEPRECIATION
At 1 April 2023 - 3,345 7,014 10,359
Charge for year - 1,402 118 1,520
At 31 March 2024 - 4,747 7,132 11,879
NET BOOK VALUE
At 31 March 2024 25,650 7,942 261 33,853
At 31 March 2023 25,650 9,344 379 35,373

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Amounts owed by group undertakings 515,383 468,970
Other debtors - 5,000
Directors' current accounts - 66,880
Prepayments and accrued income 1,000 -
516,383 540,850

KINGSTON MORTGAGE SERVICES LIMITED (REGISTERED NUMBER: 05628948)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts (see note 9) 113,272 109,425
Trade creditors 3,851 3,632
Amounts owed to group undertakings 80,081 34,881
Tax 37,384 21,188
Social security and other taxes 8,104 8,710
Other creditors 147,216 108,900
Directors' current accounts 54,692 -
Accruals and deferred income 9,805 74,400
454,405 361,136

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans (see note 9) 94,579 156,777

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 21,234

9. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 48,531 46,302
Bank loans 64,741 63,123
113,272 109,425

Amounts falling due between two and five years:
Bank loans - 2-5 years 94,579 135,543

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 21,234

KINGSTON MORTGAGE SERVICES LIMITED (REGISTERED NUMBER: 05628948)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
1,000 A Ordinary £1 1,000 1,000
10 B Ordinary £1 10 10
10 C Ordinary £1 10 10
10 D Ordinary £1 10 10
1,030 1,030

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
Mr C J Poore
Balance outstanding at start of year 66,880 -
Amounts advanced - 187,045
Amounts repaid (66,880 ) (120,165 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 66,880

12. RELATED PARTY DISCLOSURES

At the balance sheet date, the company was owed an amount of £447,703 (2023: £409,132) by CP Wealth Ltd, £35,241 (2023: £28,069) by CJ SJ & JP Poore Partnership, and owed £68,269 (2023: £25,096) to KMS Commercial Ltd and £11,812 (2023: £8,914) to Poore Fincham Ltd, companies where the directors have common control.

At the balance sheet date, the company was owed an amount of £32,439 (2023: £31,769) by Portland Home Investments Ltd. The amount was interest free and repayable on demand.

As at the balance sheet date, included in creditors due within one year is £54,692 (2023: £66,880 debit), due and payable to the director. The amount is interest free and repayable on demand.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party Mr C Poore.