K.V.D. Properties Limited - Accounts to registrar (filleted) - small 22.3

K.V.D. Properties Limited - Accounts to registrar (filleted) - small 22.3

K.V.D. PROPERTIES LIMITED - Company Information

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REGISTERED NUMBER: 00544552 (England and Wales)












Unaudited Financial Statements

for the Year Ended 28 February 2022

for

K.V.D. Properties Limited
Butler & Co Alresford Limited
Chartered Accountants
Bennett House
The Dean
Alresford
Hampshire
SO24 9BH








K.V.D. Properties Limited (Registered number: 00544552)






Contents of the Financial Statements
for the Year Ended 28 February 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


K.V.D. Properties Limited

Company Information
for the Year Ended 28 February 2022







DIRECTORS: S M Howard
Mrs P A Howard





SECRETARY: Mrs P A Howard





REGISTERED OFFICE: Bennett House
The Dean
Alresford
Winchester
Hampshire
SO24 9BH





REGISTERED NUMBER: 00544552 (England and Wales)





ACCOUNTANTS: Butler & Co Alresford Limited
Chartered Accountants
Bennett House
The Dean
Alresford
Hampshire
SO24 9BH
Page 1
K.V.D. Properties Limited (Registered number: 00544552)

Balance Sheet
28 February 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 790,000 790,000

CURRENT ASSETS
Debtors 5 4,702 4,928
Cash at bank 38,503 33,387
43,205 38,315
CREDITORS
Amounts falling due within one year 6 29,742 30,446
NET CURRENT ASSETS 13,463 7,869
TOTAL ASSETS LESS CURRENT
LIABILITIES
803,463
797,869

PROVISIONS FOR LIABILITIES 7 132,851 132,851
NET ASSETS 670,612 665,018

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Fair value reserve 623,250 623,250
Retained earnings 46,362 40,768
SHAREHOLDERS' FUNDS 670,612 665,018

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 in accordance with Section 476 of the Companies Act 2006.

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.

The notes form part of these financial statements

Page 2 continued...
K.V.D. Properties Limited (Registered number: 00544552)

Balance Sheet - continued
28 February 2022


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 Board of Directors and authorised for issue on 22 November 2022 and were signed on its behalf by:





S M Howard - Director


The notes form part of these financial statements

Page 3
K.V.D. Properties Limited (Registered number: 00544552)

Notes to the Financial Statements
for the Year Ended 28 February 2022

1. STATUTORY INFORMATION

K.V.D. 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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2021
and 28 February 2022 790,000
NET BOOK VALUE
At 28 February 2022 790,000
At 28 February 2021 790,000

Page 4 continued...
K.V.D. Properties Limited (Registered number: 00544552)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2022

4. INVESTMENT PROPERTY - continued

Fair value at 28 February 2022 is represented by:
£   
Valuation in 1999 53,653
Valuation in 2000 200,000
Valuation in 2010 350,000
Valuation in 2019 140,000
Cost 46,347
790,000

The investment property was valued on an open market basis on 30 September 2019 by an independent valuer .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Other debtors 4,702 4,928

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Tax 8,936 8,570
Deposits held 19,063 19,063
Directors' current accounts 303 1,373
Accruals and deferred income 1,440 1,440
29,742 30,446

7. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax 132,851 132,851

Deferred
tax
£   
Balance at 1 March 2021 132,851
Balance at 28 February 2022 132,851

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
20,000 Ordinary 1000 1,000 1,000

Page 5 continued...
K.V.D. Properties Limited (Registered number: 00544552)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2022

9. RELATED PARTY DISCLOSURES

Mrs L Davenport
Former director and secretary

As at the balance sheet date, the company owed Mrs L Davenport £nil (2021 - £500). Mrs L Davenport resigned as a director and secretary of the company on 17 October 2022.

Mr S M Howard
Director

As at the balance sheet date, the company owed Mr S M Howard £303 (2021 - £873).

The Davenport Grandchildren Settlement
A trust with 100% of the shareholding in the company, as well as in which Mrs L Davenport (former director) is a trustee and Mr S M Howard (Director) is a beneficiary.

Dividends of £32,500 (2021: £30,000) were paid to The Davenport Grandchildren Settlement during the course of the trading year.

At the balance sheet date, The Davenport Grandchildren Settlement owed the company £820 (2021 - £1,320).

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are the trustees of The Davenport Grandchildrens' Settlement by virtue of their interests in the share capital of the company.

Page 6