Kitzbuehel Haven Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06492851 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2022

for

Kitzbuehel Haven Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

G Pierce

REGISTERED OFFICE:

Pippins

Cherry Drive

Beaconsfield

Buckinghamshire

HP9 1XP

REGISTERED NUMBER:

06492851 (England and Wales)

ACCOUNTANTS:

Friends.Tax LLP

Pippins

Cherry Drive

Forty Green

Beaconsfield

Buckinghamshire

HP9 1XP

FIXED ASSETS

Investment property

4

155,000

155,000

CREDITORS

Amounts falling due within one year

5

144,394

140,342

NET CURRENT LIABILITIES

(144,394

)

(140,342

)

TOTAL ASSETS LESS CURRENT LIABILITIES

10,606

14,658

PROVISIONS FOR LIABILITIES

2,465

2,465

NET ASSETS

8,141

12,193

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

8,041

12,093

SHAREHOLDERS' FUNDS

8,141

12,193

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 director acknowledges his 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 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 director and authorised for issue on 28 March 2022 and were signed by:

G Pierce - Director

1.	STATUTORY INFORMATION

Kitzbuehel Haven 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.

Going Concern

These accounts have been prepared on a going concern basis. The company has suffered a loss over the past years, but the director and shareholders has confirmed his intention of continuing to support the company and ensuring that it has sufficient funds to continue to operate. The directors loan account will not be repaid until such time as the company has sufficient funds.

For these reason the director is confident that the company continues to be a going concern.

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.

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 NIL (2021 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 March 2021

and 28 February 2022

155,000

NET BOOK VALUE

At 28 February 2022

155,000

At 28 February 2021

155,000

Fair value at 28 February 2022 is represented by:

£

Valuation in 2008

107,923

Valuation in 2015

12,077

Valuation in 2016

16,500

Valuation in 2017

19,250

Valuation in 2018

(1,453

)

Valuation in 2019

703

155,000

If the investment property had not been revalued it would have been included at the following historical cost:

28.2.22

28.2.21

£

£

Cost

107,923

107,923

The investment property was valued on an open market basis basis on 28 February 2021 by the Director .

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.22

28.2.21

£

£

Other creditors

144,394

140,342

6.	RELATED PARTY DISCLOSURES

The company was under the control of Mr G. Pierce throughout the current year. Mr G. Pierce is the managing director and major shareholder.

At the year end the company owed Mr G. Pierce £136,580 (2020: £135,497). The loan has been used to acquire investment property and to maintain the property. There will be no demand for the company to repay this money until the company has sufficient funds.