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Registered number: 00436109
Kelly (Properties) Limited
Unaudited Financial Statements
For The Year Ended 30 June 2025
Elsburys Accountants ACCA
Kelly (Properties) Limited
Contents
Contents

| Page
--- | ---
Balance Sheet | 1—2
Notes to the Financial Statements | 3—4

Page 1
Kelly (Properties) Limited
Balance Sheet
As At 30 June 2025
Balance Sheet
Registered number: 00436109

| 2025 | 2024
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets |  |  | 1,250,000 |  | 1,250,000
|  |  | 1,250,000 |  | 1,250,000
CURRENT ASSETS
Cash at bank and in hand |  | 40,618 |  | 28,303 |
|  | 40,618 |  | 28,303 |
Creditors: Amounts Falling Due Within One Year | 5 | (172,275 ) |  | (173,349 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | (131,657 ) |  | (145,046 )
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 1,118,343 |  | 1,104,954
PROVISIONS FOR LIABILITIES
Deferred Taxation |  |  | (226,090 ) |  | (226,090 )
NET ASSETS |  |  | 892,253 |  | 878,864
CAPITAL AND RESERVES
Called up share capital | 6 |  | 1,000 |  | 1,000
Revaluation reserve | 8 |  | 925,177 |  | 925,177
Profit and Loss Account |  |  | (33,924 ) |  | (47,313 )
SHAREHOLDERS' FUNDS |  |  | 892,253 |  | 878,864

Page 1
Page 2
Kelly (Properties) Limited
Balance Sheet (continued)
As At 30 June 2025
For the year ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board

Mr M Clothier Director
13/03/2026

The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Kelly (Properties) Limited
Notes to the Financial Statements
For The Year Ended 30 June 2025
Notes to the Financial Statements
1. General Information
Kelly (Properties) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00436109 . The registered office is 24 Barnwells Court, High Street Hartley Wintney, Hook, Hampshire, RG27 8AY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Investment Properties
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.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2024: 25)
5 25
4. Investment Property
If investment property had been accounted for under historical cost accounting rules, the amounts would be:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Cost | 98,733 |  | 98,733
Accumulated depreciation and impairment | 54,728 |  | 53,830
Carrying amount | 44,005 |  | 44,903

Page 3
Page 4
Kelly (Properties) Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 June 2025
5. Creditors: Amounts Falling Due Within One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Trade creditors | - |  | 3,692
Other creditors | 168,790 |  | 164,030
Taxation and social security | 3,485 |  | 5,627
| 172,275 |  | 173,349

6. Share Capital

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 1,000 |  | 1,000

7. Directors Advances, Credits and Guarantees
As at 30th June 2024, the company owed M Clothier £143,410. (2024: £147,971)

| As at 1 July 2024 | Amounts advanced | Amounts repaid | Amounts written off | As at 30 June 2025
--- | --- | --- | --- | --- | ---
| £ | £ | £ | £ | £
Mr Michael Clothier | 147,971 | (26,406 ) | 21,845 | - | 143,410

8. Reserves

| Revaluation Reserve
--- | ---
| £
As at 1 July 2024 | 925,177
As at 30 June 2025 | 925,177

9. Exceptional Items
During the reporting period, the company was involved in legal proceedings relating to the eviction of a non-compliant tenant occupying one of its investment properties. The legal process was both time-consuming and costly, incurring professional fees and delays in regaining possession of the property.
As a result, the property remained vacant for a significant portion of the financial year, leading to a temporary loss of rental income. Furthermore, certain costs associated with the legal action and refurbishment required post-eviction contributed to increased administrative and maintenance expenses.
These factors have had a negative impact on the company’s financial performance for the year, reducing profitability. The directors consider these to be non-recurring events and expect improved performance in future periods following resolution of the matter and re-letting of the property.
Page 4