Registered number
14896873
KGS Properties Ltd
Filleted Accounts
31 May 2024
KGS Properties Ltd
Registered number: 14896873
Balance Sheet
as at 31 May 2024
Notes 2024
£
Current assets
Debtors 3 10,391
Cash at bank and in hand 31,615
42,006
Creditors: amounts falling due within one year 4 (1,996)
Net current assets 40,010
Total assets less current liabilities 40,010
Creditors: amounts falling due after more than one year 5 (40,000)
Net assets 10
Capital and reserves
Called up share capital 1
Profit and loss account 9
Shareholder's funds 10
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
Mrs K J Gess
Director
Approved by the board on 31 May 2025
KGS Properties Ltd
Notes to the Accounts
for the period from 26 May 2023 to 31 May 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).
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, 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 initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2024
Number
Average number of persons employed by the company 1
3 Debtors 2024
£
Other debtors 10,391
4 Creditors: amounts falling due within one year 2024
£
Taxation and social security costs 2
Other creditors 1,994
1,996
5 Creditors: amounts falling due after one year 2024
£
Other creditors 40,000
6 Other information
KGS Properties Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Demar House
14 Church Road
East Wittering
Chichester, West Sussex
PO20 8PS
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