Registration number: 16130634

KCS Fal1 Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 8

KCS Fal1 Limited

Company Information

Directors

S Pictor D M Carruthers

Registered office

Unit 2 Penstraze Business Centre Chacewater Truro Cornwall TR4 8PN

Accountants

Herbert Lewis Williams & Associates Limited Chartered Certified Accountants Leigh Court Business Centre Abbots Leigh Bristol BS8 3RA

KCS Fal1 Limited

(Registration number: 16130634)
Balance Sheet as at 31 March 2026

	Note	2026 £
Fixed assets
Intangible assets	4	7,812
Investment property	5	807,594
		815,406
Current assets
Debtors	6	3,712
Cash at bank and in hand		91,241
		94,953
Creditors: Amounts falling due within one year	7	(580,688)
Net current liabilities		(485,735)
Total assets less current liabilities		329,671
Creditors: Amounts falling due after more than one year	7	(319,067)
Provisions for liabilities		33,164
Net assets		43,768
Capital and reserves
Called up share capital	8	100
Retained earnings		43,668
Shareholders' funds		43,768

For the financial period ending 31 March 2026 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 accounts for the period in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 8 September 2026 and signed on its behalf by:
 

KCS Fal1 Limited

(Registration number: 16130634)
Balance Sheet as at 31 March 2026

......................................... S Pictor Director

KCS Fal1 Limited

Notes to the Unaudited Financial Statements for the Period from 11 December 2024 to 31 March 2026

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 2 Penstraze Business Centre
Chacewater
Truro
Cornwall
TR4 8PN
England and Wales

These financial statements were authorised for issue by the Board on 8 September 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

KCS Fal1 Limited

Notes to the Unaudited Financial Statements for the Period from 11 December 2024 to 31 March 2026

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
FInance costs	4% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

KCS Fal1 Limited

Notes to the Unaudited Financial Statements for the Period from 11 December 2024 to 31 March 2026

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

KCS Fal1 Limited

Notes to the Unaudited Financial Statements for the Period from 11 December 2024 to 31 March 2026

4	Intangible assets

	Other intangible assets  £	Total £
Cost or valuation
Additions acquired separately	8,137	8,137
At 31 March 2026	8,137	8,137
Amortisation
Amortisation charge	325	325
At 31 March 2026	325	325
Carrying amount
At 31 March 2026	7,812	7,812

5	Investment properties

	2026 £
Additions	813,646
Fair value adjustments	(6,052)
At 31 March	807,594

There has been no valuation of investment property by an independent valuer.

6

Debtors

Current	2026 £
Trade debtors	1,440
Prepayments	835
Other debtors	1,437
	3,712

KCS Fal1 Limited

Notes to the Unaudited Financial Statements for the Period from 11 December 2024 to 31 March 2026

7

Creditors

Creditors: amounts falling due within one year

	2026 £
Due within one year
Accruals and deferred income	4,246
Other creditors	576,442
	580,688

Creditors: amounts falling due after more than one year

	Note	2026 £
Due after one year
Loans and borrowings	9	319,067

8	Share capital

Allotted, called up and fully paid shares

	2026
	No.	£
Ordinary shares of £1 each	100	100

9	Loans and borrowings

Non-current loans and borrowings

	2026 £
Bank borrowings	319,067