Company registration number 12347601 (England and Wales)
Keane Property Holding 3 Limited
Unaudited Financial Statements
For the year ended 30 June 2024
PAGES FOR FILING WITH REGISTRAR
Keane Property Holding 3 Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 3
Keane Property Holding 3 Limited
Balance Sheet
As at 30 June 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Stocks
34,661
28,447
Debtors
2
100
789
Cash at bank and in hand
1,552
4,999
36,313
34,235
Creditors: amounts falling due within one year
3
(36,213)
(34,135)
Net current assets
100
100
Capital and reserves
Called up share capital
100
100
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 3 March 2025 and are signed on its behalf by:
Mr B Keane
Director
Company registration number 12347601 (England and Wales)
Keane Property Holding 3 Limited
Notes to the Financial Statements
For the year ended 30 June 2024
- 2 -
1
Accounting policies
Company information
Keane Property Holding 3 Limited is a private company limited by shares incorporated in England and Wales. The registered office is Pendragon House, 65 London Road, St Albans, Herts, AL1 1LJ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 and Section 12 of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present fair value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, which include trade and other payables and bank loans, are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present fair value of the future receipts discounted at a market rate of interest.
2
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
100
789
Keane Property Holding 3 Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2024
- 3 -
3
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
4,135
Other creditors
36,213
30,000
36,213
34,135
4
Related party transactions
Transactions with related parties
Included in other creditors is £36,214 (2023 - £30,000) owed to companies under common control.