Company registration number 05909606 (England and Wales)
K Properties (Rossendale) Holdings Ltd
Unaudited financial statements
For the year ended 30 September 2024
K Properties (Rossendale) Holdings Ltd
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
K Properties (Rossendale) Holdings Ltd
Statement of financial position
As at 30 September 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
4
61,468
61,468
Capital and reserves
Called up share capital
61,468
61,468

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 30 May 2025 and are signed on its behalf by:
Mrs L Navan
Director
Company registration number 05909606 (England and Wales)
K Properties (Rossendale) Holdings Ltd
Notes to the financial statements
For the year ended 30 September 2024
- 2 -
1
Accounting policies
Company information

K Properties (Rossendale) Holdings Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Jubilee Works, Holme Lane, Rawtenstall, Rossendale, Lancashire, United Kingdom, BB4 6JF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The financial statements contain information about K Properties (Rossendale) Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the companies Act 2006 from the requirements to prepare consolidated financial statements.

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

 

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

The company recognises revenue from the following major sources:

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on despatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

K Properties (Rossendale) Holdings Ltd
Notes to the financial statements (continued)
For the year ended 30 September 2024
1
Accounting policies
(Continued)
- 3 -

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

1.2
Fixed asset investments

Fixed asset investments in subsidiary undertakings are stated at cost, unless in the opinion of the directors there has been a permanent diminution in value, in which case an appropriate adjustment has been made.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

K Properties (Rossendale) Holdings Ltd
Notes to the financial statements (continued)
For the year ended 30 September 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6

Income from fixed asset investments

Income from fixed asset investments is received in the form of dividends and is credited to the income statement when receivable.

1.7

Dividends

Equity dividends are recognised when they become legally payable and are no longer at the discretion of the company.

2
Judgements and key sources of estimation uncertainty

There are currently no critical accounting estimates and judgements applied by the directors that are considered key to the preparation of the financial statements.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
4
4
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
61,468
61,468
2024-09-302023-10-01falsefalsefalse30 May 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityS KayL NavanS ConnollyMs K KayMr A J Kay059096062023-10-012024-09-30059096062024-09-30059096062023-09-3005909606core:ShareCapital2024-09-3005909606core:ShareCapital2023-09-3005909606bus:Director22023-10-012024-09-30059096062022-10-012023-09-3005909606bus:PrivateLimitedCompanyLtd2023-10-012024-09-3005909606bus:SmallCompaniesRegimeForAccounts2023-10-012024-09-3005909606bus:FRS1022023-10-012024-09-3005909606bus:AuditExemptWithAccountantsReport2023-10-012024-09-3005909606bus:Director12023-10-012024-09-3005909606bus:Director32023-10-012024-09-3005909606bus:Director42023-10-012024-09-3005909606bus:Director52023-10-012024-09-3005909606bus:FullAccounts2023-10-012024-09-30xbrli:purexbrli:sharesiso4217:GBP