1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-03-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 07931225 2023-03-01 2024-02-29 07931225 2024-02-29 07931225 2023-02-28 07931225 2022-03-01 2023-02-28 07931225 2023-02-28 07931225 2022-02-28 07931225 bus:Director1 2023-03-01 2024-02-29 07931225 core:AfterOneYear 2024-02-29 07931225 core:AfterOneYear 2023-02-28 07931225 core:WithinOneYear 2024-02-29 07931225 core:WithinOneYear 2023-02-28 07931225 core:ShareCapital 2024-02-29 07931225 core:ShareCapital 2023-02-28 07931225 core:RetainedEarningsAccumulatedLosses 2024-02-29 07931225 core:RetainedEarningsAccumulatedLosses 2023-02-28 07931225 bus:SmallEntities 2023-03-01 2024-02-29 07931225 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 07931225 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 07931225 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 07931225 bus:FullAccounts 2023-03-01 2024-02-29 07931225 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity core:OtherTransactionType1 2023-03-01 2024-02-29
COMPANY REGISTRATION NUMBER: 07931225
KIPNIK DEVELOPMENTS LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
29 February 2024
KIPNIK DEVELOPMENTS LTD
STATEMENT OF FINANCIAL POSITION
29 February 2024
2024
2023
Note
£
£
£
CURRENT ASSETS
Stocks
190,608
184,822
Debtors
5
1,350
2,296
Cash at bank and in hand
445,941
520,933
---------
---------
637,899
708,051
CREDITORS: amounts falling due within one year
6
117,138
174,068
---------
---------
NET CURRENT ASSETS
520,761
533,983
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
520,761
533,983
CREDITORS: amounts falling due after more than one year
7
456,403
457,008
---------
---------
NET ASSETS
64,358
76,975
---------
---------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
64,258
76,875
--------
--------
SHAREHOLDERS FUNDS
64,358
76,975
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 29th February 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
KIPNIK DEVELOPMENTS LTD
STATEMENT OF FINANCIAL POSITION (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 11 February 2025 , and are signed on behalf of the board by:
K Robinson
Director
Company registration number: 07931225
KIPNIK DEVELOPMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 29th FEBRUARY 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 106-107 Dowgate Hill House, 14-16 Dowgate Hill, London, EC4R 2SU, UK.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Stocks
Land held for development and work in progress is valued at the lower of cost and net realisable value. Other stock comprises materials, equipment and goods for resale valued at the lower of cost and net realisable value,. Cost includes appropriate overheads.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Debtors
2024
2023
£
£
Other debtors
1,350
2,296
-------
-------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
117,138
174,068
---------
---------
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
456,403
457,008
---------
---------
8. Related party transactions
The company was under the control of the company's director throughout the current and previous year. Kipnik Developments Limited took out a long term loan of £461,538 in August 2012 at an interest rate of 0.1% per annum. The loan was made by Kipnik Enterprises Limited (a company incorporated in Jamaica) in which the director of Kipnik Developments Limited is also a director. At the year end the balance owed by Kipnik Developments Limited was £456,403 (2023 - £457,008).