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REGISTERED NUMBER: 05278268 (England and Wales)



















AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2024

FOR

KILLOUGHERY PROPERTIES LIMITED

KILLOUGHERY PROPERTIES LIMITED (REGISTERED NUMBER: 05278268)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


KILLOUGHERY PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2024







DIRECTOR: J Killoughery





SECRETARY: J Killoughery





REGISTERED OFFICE: 43a Willow Lane
Mitcham
Surrey
CR4 4NA





REGISTERED NUMBER: 05278268 (England and Wales)





AUDITORS: ESW Limited
Chartered Accountants
& Registered Auditors
162-164 High Street
Rayleigh
Essex
SS6 7BS

KILLOUGHERY PROPERTIES LIMITED (REGISTERED NUMBER: 05278268)

BALANCE SHEET
30TH SEPTEMBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 4 14,400,000 14,400,000

CURRENT ASSETS
Debtors 5 125,314 369,208
Cash at bank 439,207 361,773
564,521 730,981
CREDITORS
Amounts falling due within one year 6 (392,412 ) (605,274 )
NET CURRENT ASSETS 172,109 125,707
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,572,109

14,525,707

CREDITORS
Amounts falling due after more than one
year

7

(1,384,527

)

(2,048,136

)

PROVISIONS FOR LIABILITIES 9 (2,833,069 ) (2,833,069 )
NET ASSETS 10,354,513 9,644,502

CAPITAL AND RESERVES
Called up share capital 10 25,100 20,100
Share premium 3,825,000 3,230,000
Non-distributable retained earnings 3,710,456 3,710,456
Retained earnings 2,793,957 2,683,946
SHAREHOLDERS' FUNDS 10,354,513 9,644,502

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19th June 2025 and were signed by:





J Killoughery - Director


KILLOUGHERY PROPERTIES LIMITED (REGISTERED NUMBER: 05278268)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

1. STATUTORY INFORMATION

Killoughery Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover comprises rental income from the company's freehold land and buildings.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 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 trade and other 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.

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.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors and bank loans, 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.

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

Equity instruments
Equity instruments issued by the company are recorded at the fair value of 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.


KILLOUGHERY PROPERTIES LIMITED (REGISTERED NUMBER: 05278268)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st October 2023
and 30th September 2024 14,400,000
NET BOOK VALUE
At 30th September 2024 14,400,000
At 30th September 2023 14,400,000

Fair value at 30th September 2024 is represented by:
£   
Valuation in 2020 1,622,500
Valuation in 2022 3,049,333
Valuation in 2023 275,442
Cost 9,452,725
14,400,000

The directors have estimated the fair value of the company's investment properties. The value of one property has been based upon market specific rental yields published by a UK national commercial real estate consultancy, the remaining properties were valued in November 2021 by a UK national Chartered Surveyor.

KILLOUGHERY PROPERTIES LIMITED (REGISTERED NUMBER: 05278268)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 73,366 79,544
Amounts owed by group undertakings 36,831 -
Other debtors 15,117 289,664
125,314 369,208

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 301,410 393,461
Trade creditors 11,413 21,547
Amounts owed to group undertakings - 90,222
Taxation and social security 36,670 37,934
Other creditors 42,919 62,110
392,412 605,274

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 1,384,527 2,048,136

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years
by instalments 178,889 474,294
178,889 474,294

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,685,937 2,441,597

The bank facilities are secured by a debenture over the whole of the group's assets, and cross guarantees by all of the group members.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 2,833,069 2,833,069

KILLOUGHERY PROPERTIES LIMITED (REGISTERED NUMBER: 05278268)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1st October 2023 2,833,069
Balance at 30th September 2024 2,833,069

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 25,100 20,100

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr S Cracknell FCA (Senior Statutory Auditor)
for and on behalf of ESW Limited

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Administrative expenses include costs from G.J. Killoughery Limited, a company which has common shareholders, amounting to £134,908 (2023 : £229,685).

13. PARENT COMPANY

The company's immediate and ultimate parent undertaking is Killoughery Holdings Limited, a company incorporated in England and Wales which is the smallest and largest group for which consolidated accounts including Killoughery Properties Limited are prepared. The consolidated accounts of Killoughery Holdings Limited are available from its registered office 43a Willow Lane, Mitcham, Surrey, England, CR4 4NA.