| REGISTERED NUMBER: |
| KNOLE ROAD FLAT OWNERS |
| (BEXHILL) LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 29TH SEPTEMBER 2024 |
| REGISTERED NUMBER: |
| 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: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 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 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Fair value reserve | 11 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS |
| 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 were approved by the Board of Directors and authorised for issue on |
| 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 |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| Fixtures and fittings | - |
| 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 |
| DEPRECIATION |
| At 30th September 2023 |
| Charge for year |
| At 29th September 2024 |
| NET BOOK VALUE |
| At 29th September 2024 |
| At 29th September 2023 |
| 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 |
| NET BOOK VALUE |
| At 29th September 2024 |
| At 29th September 2023 |
| 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 |
| Prepayments |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Amounts due to Maintenance Account |
| Taxation and social security |
| Other creditors |
| 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 |
| Loan Stock |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| 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: | £ | £ |
| Ordinary shares | £1 | 79 | 79 |
| 11. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| At 30th September 2023 |
| and 29th September 2024 |
| 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. |