| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2024 |
| FOR |
| KSD HOUSING LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2024 |
| FOR |
| KSD HOUSING LIMITED |
| KSD HOUSING LIMITED (REGISTERED NUMBER: 08411712) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Chartered Accountants' Report | 7 |
| KSD HOUSING LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MAY 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants & Business Advisers |
| 20 Havelock Road |
| Hastings |
| East Sussex |
| TN34 1BP |
| KSD HOUSING LIMITED (REGISTERED NUMBER: 08411712) |
| BALANCE SHEET |
| 31 MAY 2024 |
| 31.5.24 | 31.5.23 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Revaluation reserve | 9 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| KSD HOUSING LIMITED (REGISTERED NUMBER: 08411712) |
| BALANCE SHEET - continued |
| 31 MAY 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| KSD HOUSING LIMITED (REGISTERED NUMBER: 08411712) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2024 |
| 1. | STATUTORY INFORMATION |
| KSD Housing Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The accounts have been prepared on the going concern basis as the company is supported by the directors and KSD Support Services Limited, a company under common control, who will not require repayment of inter-company loans until KSD Housing Limited is in a position to do so. |
| Turnover |
| Turnover is property sales from stock and derived from property development activities falling within company's ordinary activities. |
| Rent received is shown under other income and is the total value of rents and charges receivable during the year in respect of investment property. |
| 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. |
| Stocks |
| Stock is valued at expected net realisable value. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
| Going concern |
| The going concern basis has been used as the company is supported by the directors and KSD Support Services Ltd, a company under common control. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| KSD HOUSING LIMITED (REGISTERED NUMBER: 08411712) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2024 |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 June 2023 |
| and 31 May 2024 |
| NET BOOK VALUE |
| At 31 May 2024 |
| At 31 May 2023 |
| Fair value at 31 May 2024 is represented by: |
| £ |
| Valuation in 2014 | 150,367 |
| Valuation in 2015 | 167,400 |
| Valuation in 2016 | 55,421 |
| Valuation in 2017 | 36,825 |
| Valuation in 2020 | 170,000 |
| Cost | 319,987 |
| 900,000 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.24 | 31.5.23 |
| £ | £ |
| Other debtors |
| Joint venture | - | 2,693,357 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.24 | 31.5.23 |
| £ | £ |
| Bank loans and overdrafts (see note 7) |
| Trade creditors |
| Tax |
| VAT | 88,610 | 88,610 |
| Other creditors - SS |
| Directors' current accounts | 1,781 | 1,781 |
| Accrued expenses |
| 7. | LOANS |
| An analysis of the maturity of loans is given below: |
| 31.5.24 | 31.5.23 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank loans |
| KSD HOUSING LIMITED (REGISTERED NUMBER: 08411712) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2024 |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.5.24 | 31.5.23 |
| value: | £ | £ |
| Ordinary | £1 | 300 | 300 |
| 9. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 June 2023 |
| Revaluation | 581,375 |
| At 31 May 2024 |
| 10. | RELATED PARTY DISCLOSURES |
| In the year a write off was made with an associated company for amounts KSD Housing Ltd owed leaving £2,399,999 owed (2023: £4,339,127) . |
| £1,781 was owed to the directors (2023: £1,781). There are no terms attached to this loan. |
| 11. | CHARGES |
| Bibby Financial services Ltd have a fixed and floating charge over the assets of the company in relation to facilities of a company under common control. |
| CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| KSD HOUSING LIMITED |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of KSD Housing Limited for the year ended 31 May 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at icaew.com/membershandbook. |
| This report is made solely to the Board of Directors of KSD Housing Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of KSD Housing Limited and state those matters that we have agreed to state to the Board of Directors of KSD Housing Limited, as a body, in this report in accordance with icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than KSD Housing Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that KSD Housing Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of KSD Housing Limited. You consider that KSD Housing Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of KSD Housing Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Accountants & Business Advisers |
| 20 Havelock Road |
| Hastings |
| East Sussex |
| TN34 1BP |