KGN Developments Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 09739599 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

KGN DEVELOPMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

T J Doran

REGISTERED OFFICE:

Bryant House

Bryant Road

Strood

Rochester

Kent

ME2 3EW

REGISTERED NUMBER:

09739599 (England and Wales)

ACCOUNTANTS:

Friend & Grant Ltd

Bryant House

Bryant Road

Strood

Rochester

Kent

ME2 3EW

FIXED ASSETS

Tangible assets

4

2,899

3,411

Investment property

5

9,475,260

9,405,260

9,478,159

9,408,671

CURRENT ASSETS

Debtors

6

14,171

74,382

Prepayments and accrued income

3,750

3,681

Cash at bank

3,034,691

3,235,488

3,052,612

3,313,551

CREDITORS

Amounts falling due within one year

7

3,865,724

4,008,305

NET CURRENT LIABILITIES

(813,112

)

(694,754

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

8,665,047

8,713,917

CREDITORS

Amounts falling due after more than one
year

8

(4,654,100

)

(4,654,100

)

PROVISIONS FOR LIABILITIES

(623,784

)

(717,198

)

ACCRUALS AND DEFERRED INCOME

(31,402

)

(24,670

)

NET ASSETS

3,355,761

3,317,949

CAPITAL AND RESERVES

Called up share capital

1

Revaluation reserve

1,869,178

1,954,052

Retained earnings

1,486,582

1,363,896

3,355,761

3,317,949

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 19 December 2025 and were signed by:

T J Doran - Director

1.	STATUTORY INFORMATION

KGN Developments 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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 etc. - 15% on reducing balance

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 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 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

COST

At 1 April 2024

and 31 March 2025

1,438

5,580

7,018

DEPRECIATION

At 1 April 2024

687

2,920

3,607

Charge for year

113

399

512

At 31 March 2025

800

3,319

4,119

NET BOOK VALUE

At 31 March 2025

638

2,261

2,899

At 31 March 2024

751

2,660

3,411

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

9,405,260

Additions

248,160

Revaluations

(178,160

)

At 31 March 2025

9,475,260

NET BOOK VALUE

At 31 March 2025

9,475,260

At 31 March 2024

9,405,260

Fair value at 31 March 2025 is represented by:

£

Valuation in 2022

1,125,191

Valuation in 2023

1,247,938

Valuation in 2024

587,461

Cost

6,514,670

9,475,260

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

7,100

3,500

Amounts owed by group undertakings

7,071

5,461

Other debtors

-

65,421

14,171

74,382

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade creditors

-

605

Amounts owed to group undertakings

39,072

Taxation and social security

41,804

123,564

Other creditors

3,784,848

3,845,064

3,865,724

4,008,305

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2025

2024

£

Bank loans

4,654,100

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

4,654,100

9.	SECURED DEBTS

Paragon Bank PLC has a negative pledge over the following freehold properties:

- 2A Andsell Road, London, SE15 2DS

- 4A Andsell Road, London, SE15 2DS

- 4B Andsell Road, London, SE15 2DS

- 6A Andsell Road, London, SE15 2DS

- 6B Andsell Road, London, SE15 2DS

- 10 Andsell Road, London, SE15 2DS

- 98 Ivydale Road, London, SE15 3BS

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

T J Doran

Balance outstanding at start of year

(3,816,566

)

(4,459,917

)

Amounts advanced

71,111

646,637

Amounts repaid

(3,213

)

(3,286

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(3,748,668

)

(3,816,566

)

The loan from the director to the company is unsecured, interest free and repayable on demand.

11.	RELATED PARTY DISCLOSURES

Included in the Other Creditors are loans of £39,072 (2024 - £39,072) and £7,071 (2024 - £5,462) owed to companies under the control of Mr T Doran, the director.