KCTW Ltd 10954065 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is buying, selling, and letting of real estate. Digita Accounts Production Advanced 6.30.9574.0 true 10954065 2023-10-01 2024-09-30 10954065 2024-09-30 10954065 core:CurrentFinancialInstruments 2024-09-30 10954065 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 10954065 bus:SmallEntities 2023-10-01 2024-09-30 10954065 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 10954065 bus:FilletedAccounts 2023-10-01 2024-09-30 10954065 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 10954065 bus:RegisteredOffice 2023-10-01 2024-09-30 10954065 bus:Director2 2023-10-01 2024-09-30 10954065 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 10954065 countries:EnglandWales 2023-10-01 2024-09-30 10954065 2023-09-30 10954065 2022-10-01 2023-09-30 10954065 2023-09-30 10954065 core:CurrentFinancialInstruments 2023-09-30 10954065 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 iso4217:GBP xbrli:pure

Registration number: 10954065

Prepared for the registrar

KCTW Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

KCTW Ltd

(Registration number: 10954065)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

1,176,218

2,976,218

Current assets

 

Stocks

24,208

-

Debtors

5

582

582

Investments

6

852,450

934,840

Cash at bank and in hand

 

181,857

29,026

 

1,059,097

964,448

Creditors: Amounts falling due within one year

7

(1,675,047)

(3,432,207)

Net current liabilities

 

(615,950)

(2,467,759)

Net assets

 

560,268

508,459

Capital and reserves

 

Called up share capital

200

200

Retained earnings

560,068

508,259

Shareholders' funds

 

560,268

508,459

For the financial year ending 30 September 2024 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 21 June 2025 and signed on its behalf by:
 


R J Naylor
Director

 

KCTW Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Mulberry House
Daisy Bank Road
Leckhampton
Cheltenham
GL53 9QQ

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Critical accounting 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 amounts 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
 

Judgements

No significant judgements have been made by management in preparing these financial statements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

Revenue recognition

Turnover comprises rent received or receivable in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for the company's activities.

 

KCTW Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Stocks

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 

KCTW Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024


Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.


Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 1).

 

4

Investment properties

£

At 1 October 2023

2,976,218

Disposals

(1,800,000)

At 30 September 2024

1,176,218

There has been no valuation of investment property by an independent valuer.

The original cost of the investment property was £1,397,108 (2023: £2,887,670)

 

5

Debtors

2024
£

2023
£

Other debtors

582

582

582

582

 

6

Current asset investments

2024
£

2023
£

Other investments, held for sale

852,450

934,840

 

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

1,517,898

3,334,640

Taxation and social security

 

92,649

33,362

Accruals and deferred income

 

64,500

64,205

 

1,675,047

3,432,207

 

KCTW Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

 

8

Loans and borrowings

Current loans and borrowings

Note

2024
£

2023
£

Bank borrowings

 

-

980,277

Director's loan account

9

1,517,898

2,354,363

 

1,517,898

3,334,640

 

9

Related party transactions

Transactions with directors

At 30 September 2024, the company owed £1,517,898 (2023: £2,354,363) to a director in the form of a director's loan account. The balance is repayable on demand and no interest was charged on the balance.