KPD Properties Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 09958575 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 January 2023

for

KPD Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs K Drake

P M Drake

REGISTERED OFFICE:

52 Nuns Road

Winchester

Hampshire

SO23 7EF

REGISTERED NUMBER:

09958575 (England and Wales)

ACCOUNTANTS:

Lane Monnington Welton

Chartered Accountants

Riverside View

Basing Road

Old Basing

Basingstoke

Hampshire

RG24 7AL

FIXED ASSETS

Tangible assets

4

-

-

Investment property

5

4,504,208

2,904,000

4,504,208

2,904,000

CURRENT ASSETS

Debtors

6

267,097

267,377

Cash at bank

8,231

35,541

275,328

302,918

CREDITORS

Amounts falling due within one year

7

4,070,816

2,537,015

NET CURRENT LIABILITIES

(3,795,488

)

(2,234,097

)

TOTAL ASSETS LESS CURRENT LIABILITIES

708,720

669,903

PROVISIONS FOR LIABILITIES

53,966

53,966

NET ASSETS

654,754

615,937

CAPITAL AND RESERVES

Called up share capital

9

2

2

Fair value reserve

10

289,125

289,125

Retained earnings

365,627

326,810

SHAREHOLDERS' FUNDS

654,754

615,937

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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 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 17 April 2023 and were signed on its behalf by:

P M Drake - Director

1.	STATUTORY INFORMATION

KPD 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.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

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.

Financial instruments

Debtors and creditors payable/receivable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price, including transaction costs. Subsequently they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

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, adjusted for indexation where applicable.

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.

Impairment

Assets not measured at fair value are reviewed for any indication that an asset may be impaired at each balance sheet date. The directors review the carrying amount of the relevant assets and compare them to their market values and recoverable amounts. Where the carrying amount exceeds this, an impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where the impairment loss is a revaluation decrease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 February 2022

and 31 January 2023

48,152

DEPRECIATION

At 1 February 2022

and 31 January 2023

48,152

NET BOOK VALUE

At 31 January 2023

-

At 31 January 2022

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2022

2,904,000

Additions

1,600,208

At 31 January 2023

4,504,208

NET BOOK VALUE

At 31 January 2023

4,504,208

At 31 January 2022

2,904,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.23

31.1.22

£

£

Trade debtors

560

1,756

Other debtors

266,537

265,621

267,097

267,377

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.23

31.1.22

£

£

Bank loans and overdrafts

826,799

-

Taxation and social security

9,117

22,592

Other creditors

3,234,900

2,514,423

4,070,816

2,537,015

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.23

31.1.22

£

£

Bank loans

826,799

-

The bank loan is secured against the investment properties.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.23

31.1.22

value:

£

£

2

Ordinary

£1

2

2

10.

RESERVES

Fair

value

reserve

£

At 1 February 2022

and 31 January 2023

289,125

11.	RELATED PARTY DISCLOSURES

During the year the company made loan repayments to the directors totalling £96,746 (2022: £89,200) and received advances of £800,000. At the year end the balance due to the directors was £3,221,406 (2022 £2,509,090).