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REGISTERED NUMBER: 09096222 (England and Wales)











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: K Twaites
P Twaites





REGISTERED OFFICE: Leofric House
Binley Road
Coventry
West Midlands
CV3 1JN





REGISTERED NUMBER: 09096222 (England and Wales)





ACCOUNTANTS: Leigh Christou Ltd
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 5 202 202
Investment property 6 1,202,500 1,202,500
1,207,341 1,208,161

CURRENT ASSETS
Debtors 7 584,169 540,921
Cash at bank 9,383 7,659
593,552 548,580
CREDITORS
Amounts falling due within one year 8 278,218 213,364
NET CURRENT ASSETS 315,334 335,216
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,522,675

1,543,377

CREDITORS
Amounts falling due after more than one
year

9

(845,841

)

(851,633

)

PROVISIONS FOR LIABILITIES (118,799 ) (119,245 )
NET ASSETS 558,035 572,499

CAPITAL AND RESERVES
Called up share capital 200 200
Revaluation reserve 11 352,919 352,919
Retained earnings 204,916 219,380
SHAREHOLDERS' FUNDS 558,035 572,499

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 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.

K & P Twaites Property Limited (Registered number: 09096222)

Balance Sheet - continued
30 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 January 2025 and were signed on its behalf by:




P Twaites - Director



K Twaites - Director


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 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

Preparation of consolidated 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.

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
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 - Straight line over 3 years

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 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023
and 30 March 2024 480 20,537 3,834 24,851
DEPRECIATION
At 1 April 2023 294 15,265 3,834 19,393
Charge for period 28 791 - 819
At 30 March 2024 322 16,056 3,834 20,212
NET BOOK VALUE
At 30 March 2024 158 4,481 - 4,639
At 31 March 2023 186 5,272 - 5,458

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 30 March 2024 202
NET BOOK VALUE
At 30 March 2024 202
At 31 March 2023 202

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 30 March 2024 1,202,500
NET BOOK VALUE
At 30 March 2024 1,202,500
At 31 March 2023 1,202,500

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 535,695 523,787
Other debtors 48,474 17,134
584,169 540,921

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.3.24 31.3.23
£    £   
Bank loans and overdrafts 15,478 28,379
Trade creditors - 586
Amounts owed to group undertakings 244,522 164,337
Taxation and social security 10,498 6,908
Other creditors 7,720 13,154
278,218 213,364

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.3.24 31.3.23
£    £   
Bank loans 816,782 817,331
Other creditors 29,059 34,302
845,841 851,633

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 832,260 845,710

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 352,919

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
£    £   
K Twaites
Balance outstanding at start of period 17,132 8,121
Amounts advanced 38,669 17,382
Amounts repaid (17,200 ) (8,371 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 38,601 17,132

P Twaites
Balance outstanding at start of period (5,756 ) (1,808 )
Amounts advanced 32,611 4,423
Amounts repaid (17,200 ) (8,371 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 9,655 (5,756 )

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.