Registered number
09515413
KW Properties (Truro) Ltd
Filleted Accounts
31 March 2025
KW Properties (Truro) Ltd
Registered number: 09515413
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 1,150,243 1,150,324
Current assets
Cash at bank and in hand 35,996 26,151
Creditors: amounts falling due within one year 4 (760,888) (765,568)
Net current liabilities (724,892) (739,417)
Total assets less current liabilities 425,351 410,907
Provisions for liabilities (46) (61)
Net assets 425,305 410,846
Capital and reserves
Called up share capital 9 9
Revaluation reserve 5 425,230 425,230
Profit and loss account 66 (14,393)
Shareholders' funds 425,305 410,846
The directors are 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 directors acknowledge their 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.
Mr David Kneebone
Director
Approved by the board on 10 April 2025
KW Properties (Truro) Ltd
Notes to the Accounts
for the year ended 31 March 2025
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:
Plant and machinery 25% reducing balance method
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2024 1,150,000 1,022 1,151,022
At 31 March 2025 1,150,000 1,022 1,151,022
Depreciation
At 1 April 2024 - 698 698
Charge for the year - 81 81
At 31 March 2025 - 779 779
Net book value
At 31 March 2025 1,150,000 243 1,150,243
At 31 March 2024 1,150,000 324 1,150,324
4 Creditors: amounts falling due within one year 2025 2024
£ £
Taxation and social security costs 11,369 8,400
Other creditors 749,519 757,168
760,888 765,568
5 Revaluation reserve 2025 2024
£ £
At 1 April 2024 425,230 425,230
At 31 March 2025 425,230 425,230
6 Basis of preparation
At the period end, the company’s balance sheet showed net current liabilities of £724,892 (2024: £739,417). This includes £698,652 (2024: £687,631) payable to directors and shareholders. The directors have indicated that they will continue to support the company financially until such time that it can afford to repay them. On this basis, the directors feel it is appropriate that the accounts are prepared on a going concern basis.
7 Related party transactions
At the period end the company owed £211,802 (2024: £205,578) to Mr David Kneebone, director. The loan is interest bearing at 2% on an average basis and repayable on demand.

At the period end the company owed £152,743 (2024: £150,296) to Mr Ian Whittaker, director. The loan is interest bearing at 2% on an average basis and repayable on demand.

At the period end the company owed £169,221 (2024: £166,839) to Mrs Cheryl Kneebone, shareholder. The loan is interest bearing at 2% on an average basis and repayable on demand.

At the period end the company owed £164,886 (2024: £164,918) to Ms Valerie Whittaker, shareholder. The loan is interest bearing at 2% on an average basis and repayable on demand.
8 Controlling party
The company is ultimately controlled by Mr David Kneebone, Mrs Cheryl Kneebone, Mr Ian Whittaker and Mrs Valerie Whittaker who each own 25% of the issued A share capital.
9 Other information
KW Properties (Truro) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Tre-Ru House
The Leats
Truro
Cornwall
TR1 3AG
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