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Registered Number: 05023829
England and Wales

 

 

 


Unaudited Financial Statements


for the year ended 31 December 2024

for

KERNOW PROPERTY DEVELOPMENTS LTD

Kernow Property Developments Ltd
Contents Page
For the year ended 31 December 2024
Director Mr A M Brown
Registered Number 05023829
Registered Office The Old Farmhouse
Trevollard
Saltash
Cornwall
PL12 4RX
Accountants H M Williams Chartered Certified Accountants
5 Sandy Court
Ashleigh Way
Plymouth
PL7 5JX
1
Director's report and financial statements
The director presents his annual report and the financial statements for the year ended 31 December 2024
Principal activities
The principal activity of the company in the year under review was that of letting and operating of own real estate.
Director
The director who has held office during the whole of the year was as follows:
Mr A M Brown
Statement of director's responsibilities
The director is responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The director is responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

On behalf of the board.


----------------------------------
Mr A M Brown
Director

Date approved: 15 September 2025
2
 
 		 Notes
 		 2024
£		   2023
£
Fixed assets      
Tangible fixed assets 3 671,043    646,393 
671,043    646,393 
Current assets      
Debtors 4 176    162 
Cash at bank and in hand 12,764    13,597 
12,940    13,759 
Creditors: amount falling due within one year 5 (547,931)   (549,003)
Net current assets (534,991)   (535,244)
 
Total assets less current liabilities 136,052    111,149 
Provisions for liabilities 6 (3,591)   1,233 
Net assets 132,461    112,382 
 

Capital and reserves 		     
Called up share capital 2    2 
Profit and loss account 132,459    112,380 
Shareholders' funds 132,461    112,382 
 


For the year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 15 September 2025 and were signed by:


-------------------------------
Mr A M Brown
Director
3
General Information
Kernow Property Developments Ltd is a private company, limited by shares, registered in England and Wales, registration number 05023829, registration address The Old Farmhouse, Trevollard, Saltash, Cornwall, PL12 4RX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
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 taxation
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and Machinery 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 15% Reducing Balance
Computer Equipment 5 year Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £   £
At 01 January 2024 640,525    3,767    20,000    6,211    2,460    672,963 
Additions -    260    34,065    -    772    35,097 
Disposals -    -    -    -    (2,046)   (2,046)
At 31 December 2024 640,525    4,027    54,065    6,211    1,186    706,014 
Depreciation
At 01 January 2024 -    2,966    17,330    4,596    1,678    26,570 
Charge for year -    159    9,184    242    191    9,776 
On disposals -    -    -    -    (1,375)   (1,375)
At 31 December 2024 -    3,125    26,514    4,838    494    34,971 
Net book values
Closing balance as at 31 December 2024 640,525    902    27,551    1,373    692    671,043 
Opening balance as at 01 January 2024 640,525    801    2,670    1,615    782    646,393 


4.

Debtors: amounts falling due within one year

2024
£		   2023
£
Other Debtors 176    162 
176    162 

5.

Creditors: amount falling due within one year

2024
£		   2023
£
Taxation and Social Security 1,158    1,098 
Other Creditors 546,773    547,905 
547,931    549,003 

6.

Provisions for liabilities

2024
£		   2023
£
Deferred Tax 3,591    (1,233)
3,591    (1,233)

7.

Ultimate Controlling Party

The company is ultimately controlled by Mr A M Brown.
4