Kingscrown Properties Limited - Accounts to registrar (filleted) - small 18.2
Kingscrown Properties Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Kingscrown Properties Limited |
| Unaudited Financial Statements |
| for the Year Ended 31 January 2022 |
| Kingscrown Properties Limited (Registered number: 03299740) |
| Contents of the Financial Statements |
| for the Year Ended 31 January 2022 |
| Page |
| Company information | 1 |
| Balance sheet | 2 |
| Notes to the financial statements | 4 |
| Kingscrown Properties Limited |
| Company Information |
| for the Year Ended 31 January 2022 |
| Directors: |
| Secretary: |
| Registered office: |
| Registered number: |
| Accountants: |
| Chartered Accountants |
| Mynshull House |
| 78 Churchgate |
| Stockport |
| Cheshire |
| SK1 1YJ |
| Kingscrown Properties Limited (Registered number: 03299740) |
| Balance Sheet |
| 31 January 2022 |
| 31.1.22 | 31.1.21 |
| as restated |
| Notes | £ | £ |
| Fixed assets |
| Investments | 4 |
| Investment property | 5 |
| Current assets |
| Debtors | 6 |
| Cash at bank and in hand |
| Creditors |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| Net current assets |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| Provisions for liabilities | 10 | ( |
) | ( |
) |
| Net assets |
| Kingscrown Properties Limited (Registered number: 03299740) |
| Balance Sheet - continued |
| 31 January 2022 |
| 31.1.22 | 31.1.21 |
| as restated |
| Notes | £ | £ |
| Capital and reserves |
| Called up share capital |
| Fair value reserve | 11 |
| Retained earnings | 11 |
| The directors acknowledge their 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Kingscrown Properties Limited (Registered number: 03299740) |
| Notes to the Financial Statements |
| for the Year Ended 31 January 2022 |
| 1. | Statutory information |
| Kingscrown Properties Limited is a |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The financial statements contain information about Kingscrown Properties Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable and represents the |
| amounts invoiced during the period. |
| Government grants |
| Government grants are accounted for on a receivable basis. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Investment property |
| Investment properties are initially measured at cost and subsequently measured at fair value. Changes in fair value are 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. |
| Kingscrown Properties Limited (Registered number: 03299740) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2022 |
| 2. | Accounting policies - continued |
| 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. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | Employees and directors |
| The average number of employees during the year was |
| 4. | Fixed asset investments |
| Shares in |
| group |
| undertakings |
| £ |
| Cost |
| At 1 February 2021 |
| and 31 January 2022 |
| Net book value |
| At 31 January 2022 |
| At 31 January 2021 |
| Kingscrown Properties Limited (Registered number: 03299740) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2022 |
| 4. | Fixed asset investments - continued |
| The company holds 100% of the issued ordinary share capital of the following companies: |
| Royal View Court Management Company Limited |
| Student Homes (Bangor) Limited |
| 19 Posting House Limited (formerly Kingscrown Lettings Limited) |
| Kingscrown North West Lettings Limited |
| Kingscrown Developments Limited |
| 103 Chapel House Limited |
| 38 Woodlands Limited |
| 17 Posting House Limited |
| 18 Posting House Limited |
| 24 Posting House Limited |
| 28 Posting House Limited |
| 8 Posting House Limited |
| McCartney Suite Limited |
| Harrison Suite Limited |
| Starr Suite Limited |
| Lennon Suite Limited |
| 13 PA Limited |
| 14 PA Limited |
| 15 PA Limited |
| 22 Posting House Limited |
| 27 Posting House Limited |
| 5. | Investment property |
| Total |
| £ |
| Fair value |
| At 1 February 2021 |
| Disposals | ( |
) |
| Valuation changes | 955,000 |
| At 31 January 2022 |
| Net book value |
| At 31 January 2022 |
| At 31 January 2021 |
| Fair value at 31 January 2022 is represented by: |
| £ |
| Valuation in 2022 | 9,760,000 |
| Kingscrown Properties Limited (Registered number: 03299740) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2022 |
| 5. | Investment property - continued |
| If investment property had not been revalued it would have been included at the following historical cost: |
| 31.1.22 | 31.1.21 |
| as restated |
| £ | £ |
| Cost | 6,959,972 | 9,293,304 |
| Investment property was valued on an open market basis on 31 January 2022 by the directors . |
| 6. | Debtors: amounts falling due within one year |
| 31.1.22 | 31.1.21 |
| as restated |
| £ | £ |
| Amounts owed by group undertakings |
| Other debtors |
| 7. | Creditors: amounts falling due within one year |
| 31.1.22 | 31.1.21 |
| as restated |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 8. | Creditors: amounts falling due after more than one year |
| 31.1.22 | 31.1.21 |
| as restated |
| £ | £ |
| Bank loans |
| Other creditors |
| Kingscrown Properties Limited (Registered number: 03299740) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2022 |
| 8. | Creditors: amounts falling due after more than one year - continued |
| 31.1.22 | 31.1.21 |
| as restated |
| £ | £ |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Bank loans more 5 yrs non-inst |
| Other loans more 5yrs non-inst |
| 9. | Secured debts |
| The following secured debts are included within creditors: |
| 31.1.22 | 31.1.21 |
| as restated |
| £ | £ |
| Bank loans | 4,534,515 | 3,957,496 |
| 10. | Provisions for liabilities |
| 31.1.22 | 31.1.21 |
| as restated |
| £ | £ |
| Deferred tax | 165,640 | 267,445 |
| Deferred |
| tax |
| £ |
| Balance at 1 February 2021 |
| Credit to Income statement during year | ( |
) |
| Balance at 31 January 2022 |
| Kingscrown Properties Limited (Registered number: 03299740) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2022 |
| 11. | Reserves |
| Fair |
| Retained | value |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 February 2021 | 8,394,452 |
| Profit for the year |
| Dividends | ( |
) | ( |
) |
| From retained earnings | (284,652 | ) | 284,652 | - |
| At 31 January 2022 | 9,066,859 |