REGISTERED NUMBER: 10955014 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2025

for

Klas Homes & Lettings Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Investment property

4

925,000

925,000

CURRENT ASSETS

Debtors

5

1,547

100

Cash at bank

779

19,170

2,326

19,270

CREDITORS

Amounts falling due within one year

6

(265,086

)

(283,552

)

NET CURRENT LIABILITIES

(262,760

)

(264,282

)

TOTAL ASSETS LESS CURRENT LIABILITIES

662,240

660,718

CREDITORS

Amounts falling due after more than one year

7

(592,351

)

(585,582

)

PROVISIONS FOR LIABILITIES

(34,294

)

(34,294

)

NET ASSETS

35,595

40,842

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

8

102,882

102,882

Retained earnings

(67,387

)

(62,140

)

SHAREHOLDERS' FUNDS

35,595

40,842

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 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.

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 9 September 2025 and were signed on its behalf by:

Mr A S Darke - Director

1.	STATUTORY INFORMATION

Klas Homes & Lettings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

10955014

Registered office:

Westminster House

10 Westminster Road

Macclesfield

Cheshire

SK10 1BX

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.

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.

Taxation

Taxation for the year comprises current 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 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 2 (2024 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2024

and 31 May 2025

925,000

NET BOOK VALUE

At 31 May 2025

925,000

At 31 May 2024

925,000

Fair value at 31 May 2025 is represented by:

£

Valuation in 2021

36,266

Valuation in 2023

109,511

Valuation in 2024

(8,601

)

Cost

787,824

925,000

Investment Property was valued on an open market basis on 31 May 2024 by the directors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.25

31.5.24

£

£

Other debtors

1,547

100

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.25

31.5.24

£

£

Taxation and social security

-

3,314

Other creditors

265,086

280,238

265,086

283,552

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.25

31.5.24

£

£

Bank loans

592,351

585,582

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more than 5 years non instalment

592,351

585,582

8.

RESERVES

Fair

value

reserve

£

At 1 June 2024

and 31 May 2025

102,882