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COMPANY REGISTRATION NUMBER: 09425504
Kingscombe Estates Limited
Filleted Unaudited Financial Statements
Year ended
28 February 2025
Kingscombe Estates Limited
Financial Statements
Year ended 28 February 2025
Contents
Pages
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2 to 3
Accounting policies
4
Notes to the financial statements
5
Kingscombe Estates Limited
Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Kingscombe Estates Limited
Year ended 28 February 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kingscombe Estates Limited for the year ended 28 February 2025, which comprise the statement of financial position 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 at www.icaew.com/en/membership/regulations-standards-and-guidance. Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation.
PORTER GARLAND Chartered accountants
Communication House Victoria Avenue Camberley Surrey GU15 3HX
24 March 2025
Kingscombe Estates Limited
Statement of Financial Position
28 February 2025
2025
2024
Note
£
£
£
£
Current assets
Trading stock
2,862,571
2,862,571
Debtors
3
14,221
14,399
Cash at bank and in hand
116,356
106,206
------------
------------
2,993,148
2,983,176
Creditors: amounts falling due within one year
4
1,626,452
1,789,114
------------
------------
Net current assets
1,366,696
1,194,062
------------
------------
Total assets less current liabilities
1,366,696
1,194,062
Creditors: amounts falling due after more than one year
5
2,356
12,487
------------
------------
Net assets
1,364,340
1,181,575
------------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
1,364,240
1,181,475
------------
------------
Shareholders funds
1,364,340
1,181,575
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 28 February 2025 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 .
Kingscombe Estates Limited
Statement of Financial Position (continued)
28 February 2025
These financial statements were approved by the board of directors and authorised for issue on 24 March 2025 , and are signed on behalf of the board by:
Mrs J M Ashworth
Director
Company registration number: 09425504
Kingscombe Estates Limited
Accounting Policies
Year ended 28 February 2025
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in the profit and loss account. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in the profit and loss account.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Trading stock
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Kingscombe Estates Limited
Notes to the Financial Statements
Year ended 28 February 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Communication House, Victoria Avenue, Camberley, Surrey, GU15 3HX.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Debtors
2025
2024
£
£
Trade debtors
14,221
14,399
--------
--------
4. Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
10,679
10,681
Social security and other taxes
78,241
69,373
Other creditors
1,537,532
1,709,060
------------
------------
1,626,452
1,789,114
------------
------------
The company has granted a fixed and floating charge on its assets to secure the mortgage.
5. Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
2,356
12,487
-------
--------
The company has granted a fixed and floating charge on its assets to secure the mortgage.
6. Directors' advances, credits and guarantees
The directors loan account is not disclosed as permitted under Section 1A of FRS 102.