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REGISTERED NUMBER: 03129376 (England and Wales)












Kingscott Property Co Limited

Unaudited Financial Statements

for the Year Ended 31st January 2025






Kingscott Property Co Limited (Registered number: 03129376)






Contents of the Financial Statements
for the Year Ended 31st January 2025




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Kingscott Property Co Limited

Company Information
for the Year Ended 31st January 2025







DIRECTOR: N D Kingscott





SECRETARY: N D Kingscott





REGISTERED OFFICE: Unit 2 Dunheved Court
Pennygillam Way
Pennygillam Industrial Estate
LAUNCESTON
Cornwall
PL15 7ED





REGISTERED NUMBER: 03129376 (England and Wales)





ACCOUNTANTS: ATC Advisors
Chartered Accountants
Unit 2 Dunheved Court
Pennygillam Way
LAUNCESTON
Cornwall
PL15 7ED

Kingscott Property Co Limited (Registered number: 03129376)

Statement of Financial Position
31st January 2025

2025 2024
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 6,046 8,061
Investment property 5 1,375,000 1,375,000
1,381,046 1,383,061

CURRENT ASSETS
Debtors 6 347,410 295,247
Cash at bank 160,867 177,327
508,277 472,574
CREDITORS
Amounts falling due within one year 7 74,163 68,386
NET CURRENT ASSETS 434,114 404,188
TOTAL ASSETS LESS CURRENT LIABILITIES 1,815,160 1,787,249

CAPITAL AND RESERVES
Called up share capital 72 24
Retained earnings 8 1,815,088 1,787,225
SHAREHOLDERS' FUNDS 1,815,160 1,787,249

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 14th April 2025 and were signed by:





N D Kingscott - Director


Kingscott Property Co Limited (Registered number: 03129376)

Notes to the Financial Statements
for the Year Ended 31st January 2025

1. STATUTORY INFORMATION

Kingscott Property Co Limited 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.

The Freehold Properties of the company are included in the financial statements at their current market value and consequently a depreciation charge is unnecessary. This treatment follows the legislation in SSAP 19.

Investment property
Investment property is shown at the revalued amount frozen at the date of transition to FRS 102 Section 1A.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

Kingscott Property Co Limited (Registered number: 03129376)

Notes to the Financial Statements - continued
for the Year Ended 31st January 2025

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st February 2024
and 31st January 2025 8,236
DEPRECIATION
At 1st February 2024 175
Charge for year 2,015
At 31st January 2025 2,190
NET BOOK VALUE
At 31st January 2025 6,046
At 31st January 2024 8,061

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st February 2024
and 31st January 2025 1,375,000
NET BOOK VALUE
At 31st January 2025 1,375,000
At 31st January 2024 1,375,000

Fair value at 31st January 2025 is represented by:
£   
Valuation in 2003 296,468
Valuation in 2008 1,341,343
Valuation in 2011 (840,877 )
Cost 578,066
1,375,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 16,204 17,026
Other debtors 331,206 278,221
347,410 295,247

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade creditors 2 127
Taxation and social security 38,923 23,981
Other creditors 35,238 44,278
74,163 68,386

Kingscott Property Co Limited (Registered number: 03129376)

Notes to the Financial Statements - continued
for the Year Ended 31st January 2025

8. RESERVES

Included within reserves £796,886 which is undistributable.

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st January 2025 and 31st January 2024:

2025 2024
£    £   
N D Kingscott
Balance outstanding at start of year 57,060 27,187
Amounts advanced 57,251 61,118
Amounts repaid (23,599 ) (31,245 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 90,712 57,060

Interest has been charged on the overdrawn directors loan account in line with the official HM Revenue & Customs rate. The full balance has been repaid within 9 months of the year end.

10. RELATED PARTY DISCLOSURES

Other debtors include a balance owed from Eskis Footwear Limited of £221,159, of which Mr N Kingscott is also a director.