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REGISTERED NUMBER: 06246507 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

KUSHVILLE LTD

KUSHVILLE LTD (REGISTERED NUMBER: 06246507)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KUSHVILLE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: K K Sidhu
K Sidhu





REGISTERED OFFICE: Charter House
161 Newhall Street
Birmingham
West Midlands
B3 1SW





REGISTERED NUMBER: 06246507 (England and Wales)





ACCOUNTANTS: Prime
Chartered Accountants
161 Newhall Street
Birmingham
B3 1SW

KUSHVILLE LTD (REGISTERED NUMBER: 06246507)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,081 6,446
Investment property 5 1,625,000 1,890,000
1,630,081 1,896,446

CURRENT ASSETS
Debtors 6 3,443 5,512
Cash at bank 10,432 698
13,875 6,210
CREDITORS
Amounts falling due within one year 7 1,584,964 1,843,464
NET CURRENT LIABILITIES (1,571,089 ) (1,837,254 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

58,992

59,192

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 8 (101,876 ) (67,299 )
Retained earnings 160,768 126,391
58,992 59,192

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

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

KUSHVILLE LTD (REGISTERED NUMBER: 06246507)

BALANCE SHEET - continued
31 MAY 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 23 January 2025 and were signed on its behalf by:




K Sidhu - Director



K K Sidhu - Director


KUSHVILLE LTD (REGISTERED NUMBER: 06246507)

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


1. STATUTORY INFORMATION

Kushville 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rents receivable during the financial period.

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 - 20% on reducing balance
Computer equipment - 33.33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 5 (2023 - 4 ) .

KUSHVILLE LTD (REGISTERED NUMBER: 06246507)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 18,322 2,857 21,179
DEPRECIATION
At 1 June 2023 12,460 2,273 14,733
Charge for year 1,172 193 1,365
At 31 May 2024 13,632 2,466 16,098
NET BOOK VALUE
At 31 May 2024 4,690 391 5,081
At 31 May 2023 5,862 584 6,446

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 1,890,000
Disposals (265,000 )
At 31 May 2024 1,625,000
NET BOOK VALUE
At 31 May 2024 1,625,000
At 31 May 2023 1,890,000

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2021 (67,299 )
Cost 1,692,299
1,625,000

On 27th February 2021, Davidson Estates carried out an independent valuation of all investment properties. The valuation of each property has been reflected in the accounts. The directors reviewed these valuations at the reporting date and considered these to still represent the fair value of the properties at this date.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 3,443 5,512

KUSHVILLE LTD (REGISTERED NUMBER: 06246507)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 6,718 4,927
Other creditors 1,578,246 1,838,537
1,584,964 1,843,464

8. RESERVES
Fair
value
reserve
£   
At 1 June 2023 (67,299 )
Fair value reserve (34,577 )

At 31 May 2024 (101,876 )