Kinfield Investments Limited 14153025 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is property investment and management. Digita Accounts Production Advanced 6.30.9574.0 true true 14153025 2023-07-01 2024-06-30 14153025 2024-06-30 14153025 bus:OrdinaryShareClass1 bus:CumulativeRedeemableShares 2024-06-30 14153025 bus:SmallEntities 2023-07-01 2024-06-30 14153025 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 14153025 bus:FilletedAccounts 2023-07-01 2024-06-30 14153025 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 14153025 bus:RegisteredOffice 2023-07-01 2024-06-30 14153025 bus:Director1 2023-07-01 2024-06-30 14153025 bus:OrdinaryShareClass1 bus:CumulativeRedeemableShares 2023-07-01 2024-06-30 14153025 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 14153025 countries:EnglandWales 2023-07-01 2024-06-30 14153025 2023-06-30 14153025 2022-06-06 2023-06-30 14153025 bus:OrdinaryShareClass1 bus:CumulativeRedeemableShares 2023-06-30 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 14153025

Kinfield Investments Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

Pages for filing with Registrar

 

Kinfield Investments Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Kinfield Investments Limited

Company Information

Director

T Webb

Registered office

Old Gunn Court
1 North Street
Dorking
RH4 1DE

Registered number

14153025

Accountant

Corrigan Accountants Limited
1st Floor
25 King Street
Bristol
BS1 4PB

 

Kinfield Investments Limited

(Registration number: 14153025)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

5

850,803

539,992

Current assets

 

Debtors

6

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

7

(908,895)

(901,650)

Net current liabilities

 

(901,589)

(547,451)

Net liabilities

 

(50,786)

(7,459)

Capital and reserves

 

Called up share capital

8

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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 on 30 January 2025
 

.........................................

T Webb
Director

 

Kinfield Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

Statutory information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Old Gunn Court
1 North Street
Dorking
RH4 1DE
England

2

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

Investment property under construction is included at cost. When the property is brought into use it is carried at fair value, derived from current market rates and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific value. The fair value of these assets are assessed annually. No depreciation is provided, changes in fair value are recognised in profit or loss.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

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

5

Investment properties (under construction)

2024
£

At 1 July

539,992

Additions

310,811

At 30 June

850,803

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.

6

Debtors: amounts falling due within one year

2024
£

2023
£

Prepayments

1,393

332

Other debtors

4,546

25,027

5,939

25,359

7

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

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £0.10 each

1,000

100.00

1,000

100.00

         

On incorporation, 1,000 Ordinary shares having an aggregate nominal value of £100 were allotted for an aggregate consideration of £100.