Registration number:
Kinfield Investments Limited
for the Year Ended 30 June 2024
Pages for filing with Registrar
Kinfield Investments Limited
Contents
Company Information |
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Balance Sheet |
|
Notes to the Unaudited Financial Statements |
Kinfield Investments Limited
Company Information
Director |
T Webb |
Registered office |
|
Registered number |
14153025 |
Accountant |
|
Kinfield Investments Limited
(Registration number: 14153025)
Balance Sheet as at 30 June 2024
Note |
2024 |
2023 |
|
Fixed assets |
|||
Investment property |
850,803 |
539,992 |
|
Current assets |
|||
Debtors |
5,939 |
25,359 |
|
Cash at bank and in hand |
1,367 |
328,840 |
|
7,306 |
354,199 |
||
Creditors: Amounts falling due within one year |
(908,895) |
(901,650) |
|
Net current liabilities |
(901,589) |
(547,451) |
|
Net liabilities |
(50,786) |
(7,459) |
|
Capital and reserves |
|||
Called up share capital |
100 |
100 |
|
Profit and loss account |
(50,886) |
(7,559) |
|
Total equity |
(50,786) |
(7,459) |
Kinfield Investments Limited
(Registration number: 14153025)
Balance Sheet as at 30 June 2024
For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
|
• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised for issue by the
.........................................
Director
Kinfield Investments Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
Statutory information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
Accounting policies |
Summary of significant accounting policies
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Going concern
The accounts have been prepared on a going concern basis which assumes that the company has sufficient funds to continue to trade for the foreseeable future. The directors have prepared forecasts that exceed 12 months from sign off. The directors have indicated their willingness to continue to support the company and accordingly the accounts have been prepared on the basis that the company is a going concern.
Revenue recognition
Turnover comprises amounts invoiced to tenants for commerical rents during the year, net of value added tax.
The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.
Kinfield Investments Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
Investment property
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank.
Trade debtors
Trade debtors are recognised initially at the transaction price. They are subsequently measured at cost, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are recognised at the transaction price.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Taxation |
No liabilty for corporation tax arose for the period to 30 June 2024 (2023- £nil).
Kinfield Investments Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
Investment properties (under construction) |
2024 |
|
At 1 July |
|
Additions |
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At 30 June |
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Investment property was acquired during the year and the director has determined that the fair value at the year end is equivalent to the cost of the addition.
Investment property was still under construction at the year end. The property was included at cost and will be valued when the works are complete.
Debtors: amounts falling due within one year |
2024 |
2023 |
|
Prepayments |
1,393 |
332 |
Other debtors |
4,546 |
25,027 |
5,939 |
25,359 |
Creditors |
2024 |
2023 |
|
Amounts falling due within one year |
||
Other creditors |
7,895 |
- |
Accruals |
1,100 |
1,750 |
Shareholder's loans |
899,900 |
899,900 |
908,895 |
901,650 |
Shareholder's loans are unsecured, interest free and repayable on demand.
Kinfield Investments Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
|
|
|
100.00 |
|
100.00 |
On incorporation, 1,000 Ordinary shares having an aggregate nominal value of £100 were allotted for an aggregate consideration of £100.