REGISTERED NUMBER: 15425785 (England and Wales)

Unaudited Financial Statements

for the Period 19 January 2024 to 31 January 2025

for

K Gillett Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

K C Gillett

REGISTERED OFFICE:

9 St Georges Yard

Farnham

Surrey

GU9 7LW

REGISTERED NUMBER:

15425785 (England and Wales)

ACCOUNTANTS:

Blackwood Futcher & Co.

Chartered Accountants

9 St George's Yard

Farnham

Surrey

GU9 7LW

FIXED ASSETS

Investment property

4

200,000

CREDITORS

Amounts falling due within one year

5

105,654

NET CURRENT LIABILITIES

(105,654

)

TOTAL ASSETS LESS CURRENT LIABILITIES

94,346

CREDITORS

Amounts falling due after more than one year

6

113,092

NET LIABILITIES

(18,746

)

CAPITAL AND RESERVES

Called up share capital

1

Other reserves

27,150

Retained earnings

(45,897

)

(18,746

)

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 January 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 30 December 2025 and were signed by:

K C Gillett - Director

1.	STATUTORY INFORMATION

K Gillett 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

At the balance sheet date the company had net liabilities of £18,746. The ability of the company to continue to trade is dependant upon the continuing support of the director.

The director is of the opinion that the company will continue to receive this support and on this basis considers it appropriate to prepare the accounts on a going concern basis.

The financial statements do not include any adjustments that would result from the withdrawal of support by its director.

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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the period 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 period 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.

Impairment of non-financial assets

At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 19 January 2024

172,850

Revaluations

27,150

At 31 January 2025

200,000

NET BOOK VALUE

At 31 January 2025

200,000

At 18 January 2024

172,850

Fair value at 31 January 2025 is represented by:

£

Valuation in 2025

27,150

Cost

172,850

200,000

The investment property was valued on an open market basis on 31 January 2025 by the company director .

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts

6,145

Other creditors

99,509

105,654

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans

113,092

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

106,947

7.	SECURED DEBTS

The following secured debts are included within creditors:

£

Bank loan

119,237

The Mortgage Works (UK) Plc holds a charge over 5 Lytham Close, Whitehill, Bordon, Hampshire, GU35 9QL.

8.	RELATED PARTY DISCLOSURES

At the balance sheet date the company owed an amount of £98,189 to K C Gillett General Builders Limited, a company in which the director holds a material interest.