Registered number
03582322
Kingsdell Properties Limited
Filleted Accounts
30 June 2024
Kingsdell Properties Limited
Company Information
Director
A S Pearcy
Accountants
Anderson Griffin
Rotunda Buildings
Montpellier Exchange
Cheltenham
Glos
Registered office
Whites Farm
Shutter Lane
Gotherington
Cheltenham
Glos
Registered number
03582322
Kingsdell Properties Limited
Registered number: 03582322
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 3,541,070 3,562,025
Current assets
Stocks 133,408 43,614
Debtors 4 2,586 1,009
Cash at bank and in hand 2,321 1,140
138,315 45,763
Creditors: amounts falling due within one year 5 (8,895) (3,000)
Net current assets 129,420 42,763
Total assets less current liabilities 3,670,490 3,604,788
Creditors: amounts falling due after more than one year 6 (1,414,878) (1,355,655)
Provisions for liabilities (289,572) (289,572)
Net assets 1,966,040 1,959,561
Capital and reserves
Called up share capital 2 2
Revaluation reserve 7 1,234,491 1,234,491
Profit and loss account 731,547 725,068
Shareholders' funds 1,966,040 1,959,561
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A S Pearcy Director
Approved by the board on 28 February 2025
Kingsdell Properties Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold property nil
Office equipment over four years
Motor vehicles over four years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Freehold property Office equipment Motor vehicles Total
£ £ £ £
Cost
At 1 July 2023 3,540,000 7,141 84,606 3,631,747
Additions - 731 - 731
At 30 June 2024 3,540,000 7,872 84,606 3,632,478
Depreciation
At 1 July 2023 - 6,266 63,456 69,722
Charge for the year - 536 21,150 21,686
At 30 June 2024 - 6,802 84,606 91,408
Net book value
At 30 June 2024 3,540,000 1,070 - 3,541,070
At 30 June 2023 3,540,000 875 21,150 3,562,025
Freehold land and buildings: 2024 2023
£ £
Historical cost 2,015,937 2,015,937
Cumulative depreciation based on historical cost - -
2,015,937 2,015,937
4 Debtors 2024 2023
£ £
Other debtors 2,586 1,009
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 5,895 -
Other creditors 3,000 3,000
8,895 3,000
6 Creditors: amounts falling due after one year 2024 2023
£ £
Directors loans 1,414,878 1,355,655
7 Revaluation reserve 2024 2023
£ £
At 1 July 2023 1,234,491 1,357,284
Revaluation of freehold property - (151,596)
Deferred taxation arising on the revaluation of land and buildings - 28,803
At 30 June 2024 1,234,491 1,234,491
8 Controlling party
The company is controlled by Mr and Mrs A S Pearcy
9 Other information
Kingsdell Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
Whites Farm
Shutter Lane
Gotherington
Cheltenham
Glos
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