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REGISTERED NUMBER: 10626397 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

KILBURN DEVELOPMENTS LIMITED

KILBURN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10626397)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KILBURN DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Miss V Taylor





REGISTERED OFFICE: C/O Camrose
85 New Cavendish Street
Suite 3
London
W1W 6XD





REGISTERED NUMBER: 10626397 (England and Wales)





ACCOUNTANTS: Cooper Parry Advisory Limited
First Floor, Davidson House
Forbury Square
Reading
Berkshire
RG1 3EU

KILBURN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10626397)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 3,454 -

CURRENT ASSETS
Stocks 3,613,000 4,766,270
Debtors 5 109,578 284,944
Cash at bank 2,409 4,702
3,724,987 5,055,916
CREDITORS
Amounts falling due within one year 6 3,968,372 4,030,307
NET CURRENT (LIABILITIES)/ASSETS (243,385 ) 1,025,609
TOTAL ASSETS LESS CURRENT
LIABILITIES

(239,931

)

1,025,609

CREDITORS
Amounts falling due after more than one
year

7

2,561,821

2,065,885
NET LIABILITIES (2,801,752 ) (1,040,276 )

CAPITAL AND RESERVES
Called up share capital 8 1,800 1,800
Retained earnings (2,803,552 ) (1,042,076 )
SHAREHOLDERS' FUNDS (2,801,752 ) (1,040,276 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

KILBURN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10626397)

BALANCE SHEET - continued
31 DECEMBER 2023


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 and authorised for issue by the director and authorised for issue on 3 February 2025 and were signed by:





Miss V Taylor - Director


KILBURN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10626397)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Kilburn Developments 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.

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.

Going concern
The directors are satisfied that the company's financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company's needs.

The directors have considered a period of twelve months from the date of approval of the financial statements.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Work-in-progress
Work-in-progress is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Work-in-progress held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of work-in-progress over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

KILBURN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10626397)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit
as reported in the profit and loss account because it excludes items of income or expense that are
taxable or deductible in other years and it further excludes items that are never taxable or deductible.The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.


KILBURN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10626397)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
Additions 4,481
At 31 December 2023 4,481
DEPRECIATION
Charge for year 1,027
At 31 December 2023 1,027
NET BOOK VALUE
At 31 December 2023 3,454

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Other debtors 109,578 284,944

KILBURN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10626397)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans 2,348,080 1,917,702
Trade creditors 154,798 90,417
Amounts owed to group undertakings 1,021 556,558
Other creditors 1,464,473 1,465,630
3,968,372 4,030,307

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Other creditors 2,561,821 2,065,885

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
655 Ordinary A £1 655 655
345 Ordinary B £1 345 345
800 Ordinary C £1 800 800
1,800 1,800

9. RELATED PARTY DISCLOSURES

Merlin 2 Holdings Limited

A company which holds a controlling interest in Kilburn Developments Limited.

Amounts due to related party at the balance sheet date is £21,335 (2022 - £874,593). Of this amount, £21,335 has been classed as a trade creditor.

No interest has been charged on the above balance in accordance with the terms and conditions of the loan agreement in place.

Merlin 2 Holdings Limited has re-charged administrative expenses of £4,680 (2022 - £19,840) to Kilburn Developments Limited during the year.

Merlin 2 Holdings Limited went into liquidation after 31 December 2023 but prior to the date of this report.

10. ULTIMATE CONTROLLING PARTY

The controlling party is Merlin 2 Holdings Limited.

There is no ultimate controlling party.