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REGISTERED NUMBER: 02643885 (England and Wales)











KNOLE ROAD FLAT OWNERS
(BEXHILL) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29TH SEPTEMBER 2024






KNOLE ROAD FLAT OWNERS
(BEXHILL) LIMITED (REGISTERED NUMBER: 02643885)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH SEPTEMBER 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


KNOLE ROAD FLAT OWNERS
(BEXHILL) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29TH SEPTEMBER 2024







DIRECTORS: G P D Hughes
S J Hunt
M Gilmore
Mrs J Lliffe





REGISTERED OFFICE: 5a Carlton Court
Knole Road
Bexhill-on-Sea
East Sussex
TN40 1LG





REGISTERED NUMBER: 02643885 (England and Wales)





ACCOUNTANTS: Gibbons Mannington & Phipps LLP
Chartered Accountants
20 Eversley Road
Bexhill-on-Sea
East Sussex
TN40 1HE

KNOLE ROAD FLAT OWNERS
(BEXHILL) LIMITED (REGISTERED NUMBER: 02643885)

BALANCE SHEET
29TH SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 68 83
Investment property 5 497,442 497,442
497,510 497,525

CURRENT ASSETS
Debtors 6 336 3,756

CREDITORS
Amounts falling due within one year 7 149,359 159,938
NET CURRENT LIABILITIES (149,023 ) (156,182 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

348,487

341,343

CREDITORS
Amounts falling due after more than
one year

8

(53,400

)

(66,115

)

PROVISIONS FOR LIABILITIES (112,275 ) (112,275 )
NET ASSETS 182,812 162,953

CAPITAL AND RESERVES
Called up share capital 10 79 79
Fair value reserve 11 379,565 379,565
Retained earnings (196,832 ) (216,691 )
SHAREHOLDERS' FUNDS 182,812 162,953

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

KNOLE ROAD FLAT OWNERS
(BEXHILL) LIMITED (REGISTERED NUMBER: 02643885)

BALANCE SHEET - continued
29TH SEPTEMBER 2024


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 Board of Directors and authorised for issue on 23rd June 2025 and were signed on its behalf by:





G P D Hughes - Director


KNOLE ROAD FLAT OWNERS
(BEXHILL) LIMITED (REGISTERED NUMBER: 02643885)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH SEPTEMBER 2024


1. STATUTORY INFORMATION

Knole Road Flat Owners (Bexhill) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents the charges made to the leaseholders of the flats for ground rent on the Freehold Property, fees and other charges.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

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.

The investment property is the freehold land.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 30th September 2023
and 29th September 2024 2,847
DEPRECIATION
At 30th September 2023 2,764
Charge for year 15
At 29th September 2024 2,779
NET BOOK VALUE
At 29th September 2024 68
At 29th September 2023 83

KNOLE ROAD FLAT OWNERS
(BEXHILL) LIMITED (REGISTERED NUMBER: 02643885)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH SEPTEMBER 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 30th September 2023
and 29th September 2024 497,442
NET BOOK VALUE
At 29th September 2024 497,442
At 29th September 2023 497,442

Included in fair value of investment property is freehold land of £ 497,442 (2023 - £ 497,442 ) which is not depreciated.

Fair value at 29th September 2024 is represented by:
£   
Valuation in 2015 240,458
Valuation in 2019 186,234
Valuation in 2020 20,625
Valuation in 2021 44,523
Cost 5,602
497,442

If the investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 5,602 5,602

The investment property was valued on an open market basis on 21st March 2023 by Stiles Harold Williams Partnership LLP .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - 3,420
Prepayments 336 336
336 3,756

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 7,902
Amounts due to Maintenance Account 122,690 149,605
Taxation and social security 4,664 -
Other creditors 22,005 2,431
149,359 159,938

KNOLE ROAD FLAT OWNERS
(BEXHILL) LIMITED (REGISTERED NUMBER: 02643885)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH SEPTEMBER 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 12,715
Loan Stock 53,400 53,400
53,400 66,115

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 20,617

The bank loan is secured on the Freehold Land.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
79 Ordinary shares £1 79 79

11. RESERVES
Fair
value
reserve
£   
At 30th September 2023
and 29th September 2024 379,565

12. GOING CONCERN

The Company is reliant upon the loan from the maintenance account and should it be called in the company does not have sufficient funds to repay it. The directors feel that it is appropriate that the accounts be prepared on a going concern basis as it is unlikely that the loan will be called in as the members of the Company are also the leaseholders.