Registered number
08991143
KEY LINE PROPERTIES LIMITED
Filleted Accounts
30 April 2024
KEY LINE PROPERTIES LIMITED
Registered number: 08991143
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,171,531 944,767
Current assets
Debtors 4 6,963 11,760
Cash at bank and in hand 103,661 269,925
110,624 281,685
Creditors: amounts falling due within one year 5 (270,797) (223,673)
Net current (liabilities)/assets (160,173) 58,012
Total assets less current liabilities 1,011,358 1,002,779
Creditors: amounts falling due after more than one year 6 (701,009) (732,271)
Net assets 310,349 270,508
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 309,349 269,508
Shareholders' funds 310,349 270,508
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.
A S Kullar
Director
Approved by the board on 19 May 2024
KEY LINE PROPERTIES LIMITED
Notes to the Accounts
for the year ended 30 April 2024
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 represents the amount received for rent charged during the year, excluding of VAT.
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
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), 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 recognised at transaction price net of any transaction costs.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Investment property
£
Cost
At 1 May 2023 944,767
Additions 226,764
At 30 April 2024 1,171,531
Depreciation
At 1 May 2023 -
At 30 April 2024 -
Net book value
At 30 April 2024 1,171,531
At 30 April 2023 944,767
4 Debtors 2024 2023
£ £
Trade debtors 6,963 11,760
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans 36,959 36,178
Trade creditors 55,329 44,824
Accruals 17,373 11,808
Taxation and social security costs 51,259 36,999
Other creditors 109,877 93,864
270,797 223,673
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 222,203 259,162
Other creditors 478,806 473,109
701,009 732,271
7 Loans 2024 2023
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due
for payment after more than five years 74,367 114,449
Secured bank loans 259,162 295,340
The bank loan is secured by charge over the freehold investment property owned by the company.
8 Other information
KEY LINE PROPERTIES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
128A Evington Road
Leicester
LE2 1HL
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