REGISTERED NUMBER: 13233405 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

P & F KAY PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P R Kay

F Kay

REGISTERED OFFICE:

15 The Quad

Atherleigh Business Park

Atherton

Manchester

Lancashire

M46 0SY

REGISTERED NUMBER:

13233405 (England and Wales)

ACCOUNTANTS:

Percy Westhead & Company

Chartered Accountants

Hanover House

30-32 Charlotte Street

Manchester

M1 4FD

FIXED ASSETS

Investment property

4

267,613

267,613

CURRENT ASSETS

Debtors

5

-

878

Cash at bank

52,532

57,811

52,532

58,689

CREDITORS

Amounts falling due within one year

6

164,048

161,800

NET CURRENT LIABILITIES

(111,516

)

(103,111

)

TOTAL ASSETS LESS CURRENT LIABILITIES

156,097

164,502

CREDITORS

Amounts falling due after more than one year

7

140,804

151,291

NET ASSETS

15,293

13,211

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

15,193

13,111

15,293

13,211

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

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

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 29th September 2025 and were signed on its behalf by:

P R Kay - Director

1.	STATUTORY INFORMATION

P & F Kay Properties 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of value added tax and other sales taxes.

Rental income from investment property is included in the income statement in the period in which it arises under the relevant tenancy agreement.

Investment property

Investment property is measured at fair value at each reporting date with changes in fair value recognised in the income statement.

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 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 (2023 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st January 2024

and 31st December 2024

267,613

NET BOOK VALUE

At 31st December 2024

267,613

At 31st December 2023

267,613

Investment property acquired is included at cost, which, in the opinion of the directors, fairly represents the estimated market value of the property at 31st December 2024.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Prepayments

-

878

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,487

10,080

Tax

2,365

1,957

VAT

1,253

13

Other creditors

147,155

147,156

Directors' current accounts

1,088

944

Accrued expenses

1,700

1,650

164,048

161,800

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

10,917

10,487

Bank loans - 2-5 years

35,646

34,185

Bank loans

94,241

106,619

140,804

151,291

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

94,241

106,619

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

151,291

161,371

The bank loan is secured by a first legal charge over the relevant investment property dated 16th June 2021, a debenture over the property and assets of the company dated 5th July 2021 and an omnibus guarantee and set off agreement between Cover-Rule Limited, P & F Kay Properties Limited and Lloyds Bank Plc dated 16th June 2021.

9.	RELATED PARTY DISCLOSURES

During the period the company received an interest-free loan from Cover-Rule Limited, a company under the same control as P & F Kay Properties Limited. The amount due to Cover-Rule Limited at 31st December 2024 was £147,155 (2023 £147,155).