Company registration number 13758003 (England and Wales)
KENTFIELD PROPERTY GROUP LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
KENTFIELD PROPERTY GROUP LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
KENTFIELD PROPERTY GROUP LTD (REGISTERED NUMBER: 13758003)
BALANCE SHEET
AS AT 29 APRIL 2024
29 April 2024
- 1 -
29 April 2024
30 April 2023
Notes
£
£
£
£
Fixed assets
Investment property
4
500,000
464,314
Current assets
Debtors
5
9,617
10,479
Cash at bank and in hand
2,904
3,593
12,521
14,072
Creditors: amounts falling due within one year
6
(158,271)
(170,506)
Net current liabilities
(145,750)
(156,434)
Total assets less current liabilities
354,250
307,880
Creditors: amounts falling due after more than one year
7
(310,539)
(310,539)
Provisions for liabilities
(6,780)
Net assets/(liabilities)
36,931
(2,659)
Capital and reserves
Called up share capital
8
4
4
Non-distributable profits reserve
9
28,906
Distributable profit and loss reserves
8,021
(2,663)
Total equity
36,931
(2,659)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 29 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
KENTFIELD PROPERTY GROUP LTD (REGISTERED NUMBER: 13758003)
BALANCE SHEET (CONTINUED)
AS AT 29 APRIL 2024
29 April 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 5 June 2025 and are signed on its behalf by:
T Taylor
Director
KENTFIELD PROPERTY GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 APRIL 2024
- 3 -
1
Accounting policies
Company information
Kentfield Property Group Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 19-21 Swan Street, West Malling, England, ME19 6JU.
1.1
Reporting period
The company accounts are presented for a period shorter than a year, covering the period from the 1st of May 2023 to the 29th of April 2024.
1.2
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 £1.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.3
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.4
Turnover
Turnover is recognised at the fair value of consideration received or receivable for the services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. The following criteria also must be met before turnover is recognised.
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- The amount of turnover can be measure reliably.
- It is probable that the company will receive the consideration under the contract.
- The stage of completion of the contract at the end of the reporting period can be measure reliably; and
- The costs incurred and the costs to complete the contract can be measure reliably.
KENTFIELD PROPERTY GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
2023
Number
Number
Total
4
4
KENTFIELD PROPERTY GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 APRIL 2024
- 5 -
4
Investment property
2024
£
Fair value
At 1 May 2023
464,314
Revaluations
35,686
At 29 April 2024
500,000
The fair value of the investment properties have been arrived at on the basis of a valuation carried out by the directors of the company. The valuation was made on an open market value basis by a reference to market evidence of transaction prices for similar properties.
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
3,818
99
Other debtors
5,799
9,759
9,617
9,858
Deferred tax asset
621
9,617
10,479
6
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
1,884
Other creditors
156,387
170,506
158,271
170,506
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
310,539
310,539
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £4 each
1
1
4
4
KENTFIELD PROPERTY GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 APRIL 2024
8
Called up share capital
(Continued)
- 6 -
9
Non-distributable profits reserve
2024
2023
£
£
At the beginning of the period
-
-
Non distributable profits in the period
28,906
-
At the end of the period
28,906
-
10
Reserves
Included within reserves is a non-distributable sum of £28,906 (2023 : £0) relating to the movement in fair value of the company's investment property.
11
Financial commitments, guarantees and contingent liabilities
The company gives the bank a fixed and floating charge over it's assets and undertaking owned now and in the future.