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REGISTERED NUMBER: 13180836 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

KIPSIE PROPERTIES LTD

KIPSIE PROPERTIES LTD (REGISTERED NUMBER: 13180836)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KIPSIE PROPERTIES LTD

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: P J Meek
Mrs J Meek
T P Witt
Mrs A K Witt





REGISTERED OFFICE: 25-29 Sandy Way
Yeadon
Leeds
LS19 7EW





REGISTERED NUMBER: 13180836 (England and Wales)





ACCOUNTANTS: J S White & Co Limited
25-29 Sandy Way
Yeadon
Leeds
LS19 7EW

KIPSIE PROPERTIES LTD (REGISTERED NUMBER: 13180836)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,540 12,881
Investment property 5 1,129,018 647,000
1,147,558 659,881

CURRENT ASSETS
Debtors 6 19,934 20,627
Cash at bank 4,321 1,969
24,255 22,596
CREDITORS
Amounts falling due within one year 7 355,517 310,969
NET CURRENT LIABILITIES (331,262 ) (288,373 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

816,296

371,508

CREDITORS
Amounts falling due after more than one
year

8

499,808

178,550
NET ASSETS 316,488 192,958

CAPITAL AND RESERVES
Called up share capital 4 4
Fair value reserve 9 369,600 224,425
Retained earnings (53,116 ) (31,471 )
316,488 192,958

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

KIPSIE PROPERTIES LTD (REGISTERED NUMBER: 13180836)

BALANCE SHEET - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2025 and were signed on its behalf by:




T P Witt - Director P J Meek - Director




Mrs J Meek - Director Mrs A K Witt - Director


KIPSIE PROPERTIES LTD (REGISTERED NUMBER: 13180836)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Kipsie Properties Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

KIPSIE PROPERTIES LTD (REGISTERED NUMBER: 13180836)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2023 16,908
Additions 10,294
At 31 March 2024 27,202
DEPRECIATION
At 1 April 2023 4,027
Charge for year 4,635
At 31 March 2024 8,662
NET BOOK VALUE
At 31 March 2024 18,540
At 31 March 2023 12,881

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 647,000
Additions 336,843
Revaluations 145,175
At 31 March 2024 1,129,018
NET BOOK VALUE
At 31 March 2024 1,129,018
At 31 March 2023 647,000

KIPSIE PROPERTIES LTD (REGISTERED NUMBER: 13180836)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

5. INVESTMENT PROPERTY - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2022 250,000
Valuation in 2023 397,000
Valuation in 2024 469,274
1,116,274

** TOTAL SHOWN ON CLIENT SCREEN - REVALUATION ANALYSIS - DOES NOT AGREE TO TOTAL OF FIXED ASSET 'COST' ACCOUNT HELD AT END OF YEAR IN RESPECT OF
INVESTMENT PROPERTY

'COST' ACCOUNT TOTAL
Cost/valuation b/f 647,000
Additions 336,843
Revaluations 145,175
1,129,018

CLIENT SCREEN TOTAL = 1,116,274


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by joint ventures 19,082 20,000
Other debtors 852 627
19,934 20,627

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 422 -
Other creditors 355,095 310,969
355,517 310,969

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 499,808 178,550

KIPSIE PROPERTIES LTD (REGISTERED NUMBER: 13180836)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

9. RESERVES
Fair
value
reserve
£   
At 1 April 2023 224,425
Revaluation 145,175

At 31 March 2024 369,600