REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 April 2023 to 30 March 2024 |
for |
K & P Twaites Property Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 April 2023 to 30 March 2024 |
for |
K & P Twaites Property Limited |
K & P Twaites Property Limited (Registered number: 09096222) |
Contents of the Financial Statements |
for the Period 1 April 2023 to 30 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
K & P Twaites Property Limited |
Company Information |
for the Period 1 April 2023 to 30 March 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Leofric House |
Binley Road |
Coventry |
CV3 1JN |
K & P Twaites Property Limited (Registered number: 09096222) |
Balance Sheet |
30 March 2024 |
30.3.24 | 31.3.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 | 4,639 | 5,459 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 11 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
K & P Twaites Property Limited (Registered number: 09096222) |
Balance Sheet - continued |
30 March 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
K & P Twaites Property Limited (Registered number: 09096222) |
Notes to the Financial Statements |
for the Period 1 April 2023 to 30 March 2024 |
1. | STATUTORY INFORMATION |
K & P Twaites Property Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Preparation of consolidated financial statements |
The financial statements contain information about K & P Twaites Property Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at 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 period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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. |
K & P Twaites Property Limited (Registered number: 09096222) |
Notes to the Financial Statements - continued |
for the Period 1 April 2023 to 30 March 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2023 |
and 30 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for period |
At 30 March 2024 |
NET BOOK VALUE |
At 30 March 2024 |
At 31 March 2023 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 April 2023 |
and 30 March 2024 |
NET BOOK VALUE |
At 30 March 2024 |
At 31 March 2023 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
and 30 March 2024 |
NET BOOK VALUE |
At 30 March 2024 |
At 31 March 2023 |
K & P Twaites Property Limited (Registered number: 09096222) |
Notes to the Financial Statements - continued |
for the Period 1 April 2023 to 30 March 2024 |
6. | INVESTMENT PROPERTY - continued |
Fair value at 30 March 2024 is represented by: |
£ |
Valuation in 2014 | 387,621 |
Valuation in 2017 | 82,938 |
Cost | 731,941 |
1,202,500 |
Investment Properties were valued on an open market basis on 14 August 2017 by Andrew Oliver MRICS of Shortland Penn & Moore Ltd and on 27 March 2017 by Stephen Dalimore BSC MRICS also of Shortland Penn & Moore Ltd. |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.3.24 | 31.3.23 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.3.24 | 31.3.23 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.3.24 | 31.3.23 |
£ | £ |
Bank loans |
Other creditors |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 754,870 | 703,815 |
Other loans more 5yrs instal | 6,116 | 12,521 |
760,986 | 716,336 |
K & P Twaites Property Limited (Registered number: 09096222) |
Notes to the Financial Statements - continued |
for the Period 1 April 2023 to 30 March 2024 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.3.24 | 31.3.23 |
£ | £ |
Bank loans |
The above bank borrowings are secured by a debenture comprising a fixed and floating charge over all of the assets and undertakings of the company. A Personal Guarantee has been provided by the directors in respect of the above. |
11. | RESERVES |
Revaluation |
reserve |
£ |
At 1 April 2023 |
and 30 March 2024 |
12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the period ended 30 March 2024 and the year ended 31 March 2023: |
30.3.24 | 31.3.23 |
£ | £ |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
Balance outstanding at start of period | ( |
) | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period | ( |
) |
The above loans are charged at HMRC Official Rate Of Interest and are repaid in full following the balance sheet date. |
13. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling parties are Mr K Twaites & Mr P Twaites by virtue of majority shareholding. |