Company Registration No. 01947416 (England and Wales)
Kirklands Properties Limited
Unaudited accounts
for the period from 1 January 2025 to 31 March 2026
Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
Kirklands Properties Limited
for the period from 1 January 2025 to 31 March 2026
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Kirklands Properties Limited for the period from
1 January 2025 to
31 March 2026 as set out on pages
3 -
6 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
This report is made solely to the Board of Directors of Kirklands Properties Limited, as a body, in accordance with the terms of our engagement letter dated 14 September 2026. Our work has been undertaken solely to prepare for your approval the accounts of Kirklands Properties Limited and state those matters that we have agreed to state to the Board of Directors of Kirklands Properties Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kirklands Properties Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Kirklands Properties Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Kirklands Properties Limited. You consider that Kirklands Properties Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of Kirklands Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Dove Accountants Limited
Chartered Certified Accountants
71-75 Shelton Street
Covent Garden
London
WC2H 9JQ
16 September 2026
Kirklands Properties Limited
Statement of financial position
as at 31 March 2026
Tangible assets
2,064,324
2,049,374
Cash at bank and in hand
35,149
15,157
Creditors: amounts falling due within one year
(123,290)
(38,999)
Net current liabilities
(75,423)
(15,188)
Total assets less current liabilities
1,988,901
2,034,186
Creditors: amounts falling due after more than one year
(854,511)
(893,880)
Provisions for liabilities
Deferred tax
(219,246)
(219,246)
Net assets
915,144
921,060
Called up share capital
1,800
1,800
Revaluation reserve
657,737
657,737
Profit and loss account
255,607
261,523
Shareholders' funds
915,144
921,060
For the 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. 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2026 and were signed on its behalf by
Mark Milner
Director
Company Registration No. 01947416
Kirklands Properties Limited
Notes to the Accounts
for the period from 1 January 2025 to 31 March 2026
Kirklands Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 01947416. The registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% reducing balance
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Kirklands Properties Limited
Notes to the Accounts
for the period from 1 January 2025 to 31 March 2026
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Tangible fixed assets
Land & buildings
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 January 2025
2,049,374
-
2,049,374
At 31 March 2026
2,049,374
15,600
2,064,974
Charge for the period
-
650
650
At 31 March 2026
-
650
650
At 31 March 2026
2,049,374
14,950
2,064,324
At 31 December 2024
2,049,374
-
2,049,374
Carrying amount of land and buildings on cost basis
1,123,017
1,123,017
Carrying values included above held under finance leases and hire purchase contracts:
£
£
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.
Amounts falling due within one year
Trade debtors
12,043
2,538
Kirklands Properties Limited
Notes to the Accounts
for the period from 1 January 2025 to 31 March 2026
7
Creditors: amounts falling due within one year
2026
2024
Obligations under finance leases and hire purchase contracts
2,051
-
Taxes and social security
7,608
7,130
Other creditors
113,022
30,011
The loans are secured on the investment properties and with a floating charge over all other assets and goodwill.
Hire purchase finance is secured on the asset.
8
Creditors: amounts falling due after more than one year
2026
2024
Bank loans
843,880
893,880
Obligations under finance leases and hire purchase contracts
10,631
-
The loans are secured on the investment properties and with a floating charge over all other assets and goodwill.
Hire purchase finance is secured on the asset.
9
Operating lease commitments
2026
2024
At 31 March 2026 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Later than one year and not later than five years
10,202
18,703
The advances were made to the directors with no fixed repayment date. Interest is charged at HMRC approved rates. The loans are shown in other debtors.
11
Average number of employees
During the period the average number of employees was 2 (2024: 2).