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REGISTERED NUMBER: 10842705 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

KCE PROPERTIES LIMITED

KCE PROPERTIES LIMITED (REGISTERED NUMBER: 10842705)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KCE PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: E S Esdon
Mrs K Esdon





REGISTERED OFFICE: 4 Millbrook
Salisbury
SP1 1NH





REGISTERED NUMBER: 10842705 (England and Wales)





ACCOUNTANTS: Fawcetts LLP
Chartered Accountants
Windover House
St. Ann Street
Salisbury
SP1 2DR

KCE PROPERTIES LIMITED (REGISTERED NUMBER: 10842705)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,475,000 1,475,000

CURRENT ASSETS
Debtors 5 6,877 9,849
Cash at bank and in hand 1,982 12,924
8,859 22,773
CREDITORS
Amounts falling due within one year 6 321,298 313,308
NET CURRENT LIABILITIES (312,439 ) (290,535 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,162,561 1,184,465

CREDITORS
Amounts falling due after more than one
year

7

(1,060,602

)

(1,060,602

)

PROVISIONS FOR LIABILITIES (27,240 ) (27,240 )
NET ASSETS 74,719 96,623

CAPITAL AND RESERVES
Called up share capital 9 3 3
Fair value reserve 10 116,128 116,128
Retained earnings (41,412 ) (19,508 )
SHAREHOLDERS' FUNDS 74,719 96,623

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

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

KCE PROPERTIES LIMITED (REGISTERED NUMBER: 10842705)

BALANCE SHEET - continued
30 JUNE 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 5 February 2025 and were signed on its behalf by:





Mrs K Esdon - Director


KCE PROPERTIES LIMITED (REGISTERED NUMBER: 10842705)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Kce Properties 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 as modified by the revaluation of certain assets.

The financial statements have been prepared on a going concern basis. The company is dependent upon the support of the directors and shareholders who have indicated that they will introduce funds as required to meet the company's liabilities. The directors and shareholders therefore consider that the going concern basis is appropriate. The financial statements do not contain any adjustments that might be necessary were the going concern basis to be no longer appropriate.

The accounts are presented in Sterling (£) which is the functional currency of the company.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for turnover and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements:

Revaluation of investment property:
The company carries its investment property at fair value. Any fair value gains arising are not realised profits and therefore are transferred to a separately designated non-distributable fair value reserve. The directors determined fair value at 30 June 2024. The method and significant assumptions used to determine the fair value of investment property are further explained in Note 4.

Turnover
Turnover comprises of rental income which is recognised on the accruals basis and measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property represents the company's portfolio of properties. It is initially recognised at cost, which includes purchase cost and any directly attributable expenditure.

Investment property is measured at fair value at each reporting date. Any fair value gains arising are not realised profits and therefore are transferred to a separately designated non-distributable fair value reserve. Any loss arising from revaluation is also recognised in the fair value reserve unless it represents a loss below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in profit or loss for the year.


KCE PROPERTIES LIMITED (REGISTERED NUMBER: 10842705)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued
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.

Debtors
Debtors are measured at their recoverable amount.

Creditors and provisions
Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 1,475,000
NET BOOK VALUE
At 30 June 2024 1,475,000
At 30 June 2023 1,475,000

Investment property represents the company's portfolio of properties. The fair value (open market basis) of investment property was assessed by the directors at 30 June 2024. The directors took into account the quality of the investment portfolio as well as current market conditions. It is not the intention of the directors to dispose of the company's entire investment portfolio in the foreseeable future.

KCE PROPERTIES LIMITED (REGISTERED NUMBER: 10842705)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


4. INVESTMENT PROPERTY - continued

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2024 143,368
Cost 1,331,632
1,475,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 6,877 9,849

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 321,298 313,308

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 1,060,602 1,060,602

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 1,060,602 1,060,602

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,060,602 1,060,602

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
3 Ordinary £1 3 3

KCE PROPERTIES LIMITED (REGISTERED NUMBER: 10842705)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


10. RESERVES
Fair
value
reserve
£   
At 1 July 2023
and 30 June 2024 116,128

Fair value reserve:
This reserve is used to record gains in the fair value of investment property and losses to the extent that such a loss relates to a previous gain on the same asset. It is also used to record the corresponding deferred tax (charge)/credit on fair value changes in investment property.

11. RELATED PARTY DISCLOSURES

Other creditors due within one year includes £45,737 (2023: £43,725) owed to the directors.