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COMPANY REGISTRATION NUMBER: 13637887

K1C Ltd

Filleted Unaudited Financial Statements

30 December 2024

K1C Ltd

Financial Statements

Year ended 30 December 2024

Contents | Page

Statement of financial position | 1

Notes to the financial statements | 3

K1C Ltd

Statement of Financial Position

30 December 2024

| 2024 | 2023
Note | £ | £

Fixed assets

Tangible assets | 4 | 1,693,442 | 1,694,583

Current assets

Debtors | 5 | 24,412 | –
Cash at bank and in hand | 1,158 | 1,203
| -------- | -------
| 25,570 | 1,203

Creditors: amounts falling due within one year | 6 | 8,693 | 14,593
| -------- | --------
Net current assets/(liabilities) | 16,877 | ( 13,390)
| ------------ | ------------
Total assets less current liabilities | 1,710,319 | 1,681,193

Creditors: amounts falling due after more than one year | 7 | 1,710,947 | 1,689,698
| ------------ | ------------
Net liabilities | ( 628) | ( 8,505)
| ------------ | ------------

Capital and reserves

Called up share capital | 1 | 1
Profit and loss account | ( 629) | ( 8,506)
| ---- | -------
Shareholders deficit | ( 628) | ( 8,505)
| ---- | -------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 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:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

K1C Ltd

Statement of Financial Position (continued)

30 December 2024
These financial statements were approved by the board of directors and authorised for issue on 18 November 2025 , and are signed on behalf of the board by:

K A Kewley |
Director |

Company registration number: 13637887

K1C Ltd

Notes to the Financial Statements

Year ended 30 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 86-90 Paul Street, London, EC2A 4NE, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced and accrued in the year in relation to rental income.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Fixtures and fittings | - | 15% reducing balance

Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Tangible assets

| Investment Property | Fixtures and Fittings | Total
| £ | £ | £
Cost |  |  |
At 31 December 2023 | 1,691,262 | 4,447 | 1,695,709
Additions | 2,180 | – | 2,180
Disposals | – | ( 4,447) | ( 4,447)
| ------------ | ------- | ------------
At 30 December 2024 | 1,693,442 | – | 1,693,442
| ------------ | ------- | ------------
Depreciation |  |  |
At 31 December 2023 | – | 1,126 | 1,126
Disposals | – | ( 1,126) | ( 1,126)
| ------------ | ------- | ------------
At 30 December 2024 | – | – | –
| ------------ | ------- | ------------
Carrying amount |  |  |
At 30 December 2024 | 1,693,442 | – | 1,693,442
| ------------ | ------- | ------------
At 30 December 2023 | 1,691,262 | 3,321 | 1,694,583
| ------------ | ------- | ------------

Included within the above is investment property as follows:

| £
At 31 December 2023 | 1,691,262
Additions | 2,180
| ------------
At 30 December 2024 | 1,693,442
| ------------

Investment property was valued at the balance sheet date by the directors using the open market value.
5. Debtors

| 2024 | 2023
| £ | £
Other debtors | 24,412 | –
| -------- | ----

6. Creditors: amounts falling due within one year

| 2024 | 2023
| £ | £
Trade creditors | – | 2,160
Other creditors | 8,693 | 12,433
| ------- | --------
| 8,693 | 14,593
| ------- | --------

7. Creditors: amounts falling due after more than one year

| 2024 | 2023
| £ | £
Bank loans and overdrafts | 1,069,010 | 1,042,761
Other creditors | 641,937 | 646,937
| ------------ | ------------
| 1,710,947 | 1,689,698
| ------------ | ------------