Company registration number 11108235 (England and Wales)
KINGSTON BURROWES PROPERTY LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
KINGSTON BURROWES PROPERTY LTD
COMPANY INFORMATION
Director
B Burrowes
Company number
11108235
Registered office
308 Ewell Road
Surbiton
Surrey
KT6 7AL
Accountants
Kingston Burrowes Accountants
308 Ewell Road
Surbiton
Surrey
KT6 7AL
KINGSTON BURROWES PROPERTY LTD
CONTENTS
Page
Director's report
1
Balance sheet
2
Statement of changes in equity
3
Notes to the financial statements
4 - 7
KINGSTON BURROWES PROPERTY LTD
DIRECTOR'S REPORT
FOR THE YEAR ENDED 30 APRIL 2024
- 1 -

The director presents his annual report and financial statements for the year ended 30 April 2024.

Principal activities

The principal activity of the company continued to be that of owning property

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

B Burrowes
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
B Burrowes
Director
31 January 2025
KINGSTON BURROWES PROPERTY LTD
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,600,000
1,550,000
Current assets
Cash at bank and in hand
979
5,448
Creditors: amounts falling due within one year
4
(35,929)
(24,119)
Net current liabilities
(34,950)
(18,671)
Total assets less current liabilities
1,565,050
1,531,329
Creditors: amounts falling due after more than one year
5
(1,120,061)
(1,183,164)
Net assets
444,989
348,165
Capital and reserves
Called up share capital
7
1
1
Revaluation reserve
414,728
364,728
Profit and loss reserves
30,260
(16,564)
Total equity
444,989
348,165

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

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 31 January 2025
B  Burrowes
Director
Company registration number 11108235 (England and Wales)
KINGSTON BURROWES PROPERTY LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 May 2022
1
300,000
(24,132)
275,869
Year ended 30 April 2023:
Profit
-
-
7,568
7,568
Other comprehensive income:
Revaluation of tangible fixed assets
-
64,728
-
64,728
Total comprehensive income
-
64,728
7,568
72,296
Balance at 30 April 2023
1
364,728
(16,564)
348,165
Year ended 30 April 2024:
Profit
-
-
46,824
46,824
Other comprehensive income:
Revaluation of tangible fixed assets
-
50,000
-
50,000
Total comprehensive income
-
50,000
46,824
96,824
Balance at 30 April 2024
1
414,728
30,260
444,989
KINGSTON BURROWES PROPERTY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
1
Accounting policies
Company information

Kingston Burrowes Property Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 308 Ewell Road, Surbiton, Surrey, KT6 7AL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Freehold land and assets in the course of construction are not depreciated.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

KINGSTON BURROWES PROPERTY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 5 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was: 0

2024
2023
Number
Number
Total
-
0
-
0
KINGSTON BURROWES PROPERTY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
3
Tangible fixed assets
Freehold land and buildings
£
Cost
At 1 May 2023
1,550,000
Revaluation
50,000
At 30 April 2024
1,600,000
Depreciation and impairment
At 1 May 2023 and 30 April 2024
-
0
Carrying amount
At 30 April 2024
1,600,000
At 30 April 2023
1,550,000
4
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Bank loans
6
30,929
17,005
Other creditors
5,000
7,114
35,929
24,119
5
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
6
863,801
926,904
Other borrowings
6
256,260
256,260
1,120,061
1,183,164
6
Loans and overdrafts
2024
2023
£
£
Bank loans
894,730
943,909
Other loans
256,260
256,260
1,150,990
1,200,169
Payable within one year
30,929
17,005
Payable after one year
1,120,061
1,183,164
KINGSTON BURROWES PROPERTY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
6
Loans and overdrafts
(Continued)
- 7 -

 

 

7
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
of £1 each
1
1
1
1
8
Ultimate controlling party

The company was under the control of Mr. Bruce Burrowes throughout the current year, and he is the sole director and shareholder.

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