Kereds Estates Ltd Filleted Accounts Cover
Kereds Estates Ltd
Company No. 11015383
Information for Filing with The Registrar
31 October 2024
Kereds Estates Ltd Balance Sheet Registrar
at
31 October 2024
Company No.
11015383
Notes
2024
2023
£
£
Fixed assets
Investment property
4
1,511,320927,852
1,511,320927,852
Current assets
Debtors
5
8,8921,705
Cash at bank and in hand
1,58642,184
10,47843,889
Creditors: Amount falling due within one year
6
(894,989)
(426,584)
Net current liabilities
(884,511)
(382,695)
Total assets less current liabilities
626,809545,157
Creditors: Amounts falling due after more than one year
7
(390,000)
(390,000)
Provisions for liabilities
Deferred taxation
(34,653)
(12,592)
Net assets
202,156142,565
Capital and reserves
Called up share capital
22
Profit and loss account
10
202,154142,563
Total equity
202,156142,565
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 October 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 in accordance with section 476 of the Companies Act 2006.
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.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 22 April 2025 and signed on its behalf by:
H.T. Jones
Director
22 April 2025
Kereds Estates Ltd Notes to the Accounts Registrar
for the year ended 31 October 2024
1
General information
Kereds Estates Ltd is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 11015383
Its registered office is:
Central House
20 Central Avenue
St Andrews Business Park
Norwich
NR7 0HR
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is rents received from the Company's investment properties and is recognised when a tenant occupies the premises.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Freehold investment property
Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3
Employees
2024
2023
Number
Number
The average monthly number of employees (including directors) during the year was:
22
4
Investment property
Freehold Investment Property
£
Valuation
At 1 November 2023
927,852
Additions
495,225
Revaluation
88,243
At 31 October 2024
1,511,320
The company owns three investment properties, two under renovation, the other fully complete. At the year end the directors consider the fair value of the completed property to be £650,000. One of the properties being renovated was sold after the balance sheet date, and has therefore been revalued to its sale value. The final property is held at cost until such time as the renovation is complete.
5
Debtors
2024
2023
£
£
VAT recoverable
1,6621,662
Other debtors
6,69443
Prepayments and accrued income
536-
8,8921,705
6
Creditors:
amounts falling due within one year
2024
2023
£
£
Other loans
334,800-
Trade creditors
152152
Loans from directors
178,747137,747
Other creditors
361,398287,786
Accruals and deferred income
19,892899
894,989426,584
Included within other loans due within one year are bridging loans which are repayable upon the sale of a certain property. The loans attract interest at 1% per calendar month and were repaid after the balance sheet date.
7
Creditors:
amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
390,000390,000
390,000390,000
8
Creditors: secured liabilities
2024
2023
£
£
The aggregate amount of secured liabilities included within creditors
390,000-
The commercial mortgage is secured by a charge over certain freehold investment property attracting interest at a rate of 5.3% per annum. The monthly repayments comprise interest only.
9
Share Capital
The company has 2 £1.00 Ordinary shares in issue, all of which are fully paid up at par.
10
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
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