Kirton Property Investments Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 05629038 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 November 2022

for

KIRTON PROPERTY INVESTMENTS LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

Director:

Mrs C J Hawker

Secretary:

Mrs C J Hawker

Registered office:

Northside House

69 Tweedy Road

Bromley

Kent

BR1 3WA

Registered number:

05629038 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

Northside House

69 Tweedy Road

Bromley

Kent

BR1 3WA

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kirton Property Investments Limited for the year ended 30 November 2022 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Kirton Property Investments Limited in accordance with the terms of our engagement letter dated 15 October 2012. Our work has been undertaken solely to prepare for your approval the financial statements of Kirton Property Investments Limited and state those matters that we have agreed to state to the director of Kirton Property Investments Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kirton Property Investments Limited and its director for our work or for this report.

It is your duty to ensure that Kirton Property Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Kirton Property Investments Limited. You consider that Kirton Property Investments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Kirton Property Investments 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 financial statements.

Haines Watts

Chartered Accountants

Northside House

69 Tweedy Road

Bromley

Kent

BR1 3WA

23 August 2023

Fixed assets

Tangible assets

4

119

159

Investments

5

1

1

Investment property

6

464,967

464,967

465,087

465,127

Current assets

Debtors

7

102,905

4,025

Cash at bank

12,674

35,515

115,579

39,540

Creditors

Amounts falling due within one year

8

165,251

79,978

Net current liabilities

(49,672

)

(40,438

)

Total assets less current liabilities

415,415

424,689

Creditors

Amounts falling due after more than one year

9

380,210

380,196

Net assets

35,205

44,493

Capital and reserves

Called up share capital

11

100

100

Retained earnings

35,105

44,393

Shareholders' funds

35,205

44,493

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 August 2023 and were signed by:

Mrs C J Hawker - Director

1.	Statutory information

Kirton Property Investments 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Key source of estimation, uncertainty and judgement

The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

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 reducing balance

Computer equipment

-

25% on reducing balance

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

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

3.	Employees and directors

The average number of employees during the year was 1 (2021 - 1 ) .

4.	Tangible fixed assets

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

Cost

At 1 December 2021

and 30 November 2022

2,000

669

2,669

Depreciation

At 1 December 2021

2,000

510

2,510

Charge for year

-

40

40

At 30 November 2022

2,000

550

2,550

Net book value

At 30 November 2022

-

119

119

At 30 November 2021

-

159

159

5.	Fixed asset investments

Interest

in other

participating

interests

£

Cost

At 1 December 2021

and 30 November 2022

1

Net book value

At 30 November 2022

1

At 30 November 2021

1

6.	Investment property

Total

£

Fair value

At 1 December 2021

and 30 November 2022

464,967

Net book value

At 30 November 2022

464,967

At 30 November 2021

464,967

The directors are of the opinion that the market value of the investment properties is not materially different to that of cost.

7.

Debtors: amounts falling due within one year

2022

2021

£

£

Other debtors

102,905

4,025

8.

Creditors: amounts falling due within one year

2022

2021

£

£

Other creditors

165,251

79,978

9.

Creditors: amounts falling due after more than one year

2022

2021

£

£

Bank loans

380,210

380,196

2022

2021

£

£

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

380,210

380,196

10.	Secured debts

The following secured debts are included within creditors:

2022

2021

£

£

Bank loans

380,210

380,196

11.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

100

Ordinary

£1

100

100

12.	Related party disclosures

At 30 November 2022 the Company owed the director £163,572 (2021 £67,302) there is no set repayment date and no interest is charged on the loan.