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COMPANY REGISTRATION NUMBER: 11520127
KSC Property Developments Ltd
Filleted Unaudited Financial Statements
31 August 2024
KSC Property Developments Ltd
Financial Statements
Year ended 31 August 2024
Contents
Page
Balance sheet and the notes to the financial statements
1
KSC Property Developments Ltd
Balance Sheet
31 August 2024
2024
2023
£
£
Current assets
3,024
8,426
Creditors: amounts falling due within one year
2,568
4,425
-------
-------
Net current assets
456
4,001
----
-------
Total assets less current liabilities
456
4,001
Creditors: amounts falling due after more than one year
8,772
10,619
Accruals and deferred income
1,217
1,033
-------
--------
(9,533)
(7,651)
-------
--------
Capital and reserves
( 9,533)
( 7,651)
-------
-------
Notes to the financial statements
1. Directors' advances, credits and guarantees
During the year, the directors maintained current accounts with the company. The balances at the start of the year totalled £4,185 (2023 - £9,846) and were included within current assets (2023 - current assets). Total advances during the year were £906 (2023 - £Nil). Total repayments during the year were £5,812 (2023 - £5,661). The balances at the end of the year totalled £721 (2023 - £4,185) and are included within creditors: amounts falling due within one year (2023 - current assets). All advances were made on an interest free basis.
2. Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Monetary amounts in these financial statements are rounded to the nearest £.
3. Employee numbers
The average number of persons employed by the company during the period amounted to Nil (2023 - Nil).
4. Going concern
At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance from the directors that they will continue to give financial support to the company for twelve months from the date of signing these financial statements. On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the micro-entity provisions and have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
These financial statements were approved by the board of directors and authorised for issue on 29 May 2025 , and are signed on behalf of the board by:
Mr K Ellis
Director
Company registration number: 11520127
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 29 King Street, Newcastle, ST5 1JE.