Killyon Properties Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 11715246

Killyon Properties Ltd

Unaudited financial statements

31 March 2025

Killyon Properties Ltd

Statement of financial position

31 March 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	5		6,353,069		6,351,473

Current assets

Debtors	6	4,732,427	4,741,744
Cash at bank and in hand		23,961	9,235
		-----------	-----------
		4,756,388	4,750,979

Creditors: Amounts falling due within one year	7	( 3,808,073)		( 4,650,620)
		-----------		-----------
Net current assets			948,315		100,359
			-----------		-----------
Total assets less current liabilities			7,301,384		6,451,832

Creditors: Amounts falling due after more than one year	8		( 2,973,752)		( 2,148,583)

Accruals and deferred income	( 21,036)	( 19,468)
	-----------	-----------
Net assets	4,306,596	4,283,781
	-----------	-----------

Capital and reserves

Called up share capital	1,000	1,000
Share premium account	4,167,508	4,167,508
Profit and loss account	138,088	115,273
	-----------	-----------
Shareholders funds	4,306,596	4,283,781
	-----------	-----------

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 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Killyon Properties Ltd

Statement of financial position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 15 December 2025 , and are signed on behalf of the board by:

C L E Simonds

Director

Company registration number: 11715246

Killyon Properties Ltd

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Bankside 300, Peachman Way, Broadland Business Park, Norwich, Norfolk, NR7 0LB, United Kingdom.

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

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

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:

Plant and machinery	-	25% reducing balance
Equipment	-	33% 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.

If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

4. Employee numbers

The average number of employees during the year was 2 (2024: 1 ).

5. Tangible assets

	Investment property	Plant and machinery	Equipment	Total
	£	£	£	£
Cost or valuation
At 1 April 2024	6,350,000	1,416	1,858	6,353,274
Additions	2,006	–	–	2,006
	-----------	------	------	-----------
At 31 March 2025	6,352,006	1,416	1,858	6,355,280
	-----------	------	------	-----------
Depreciation
At 1 April 2024	–	461	1,340	1,801
Charge for the year	–	239	171	410
	-----------	------	------	-----------
At 31 March 2025	–	700	1,511	2,211
	-----------	------	------	-----------
Carrying amount
At 31 March 2025	6,352,006	716	347	6,353,069
	-----------	------	------	-----------
At 31 March 2024	6,350,000	955	518	6,351,473
	-----------	------	------	-----------

At the year end the investment properties have been revalued by the directors to their current market value.

6. Debtors

	2025	2024
	£	£
Trade debtors	817	1,865
Amounts owed by group undertakings	4,716,250	4,716,250
Other debtors	15,360	23,629
	-----------	-----------
	4,732,427	4,741,744
	-----------	-----------

7. Creditors: Amounts falling due within one year

	2025	2024
	£	£
Social security and other taxes	11,324	18,461
Other creditors	3,796,749	4,632,159
	-----------	-----------
	3,808,073	4,650,620
	-----------	-----------

8. Creditors: Amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	2,973,752	2,148,583
	-----------	-----------

Included within creditors: amounts falling due after more than one year is an amount of £2,973,752 (2024: £2,148,583) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

The bank loan is secured on the assets of the company.

9. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	6,375	3,876
Later than 1 year and not later than 5 years	5,843	–
	-------	------
	12,218	3,876
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