ACCOUNTS - Final Accounts

KINGFISHER PROPERTY DEVELOPMENTS LIMITED - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01falseNo description of principal activity11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07754096 2022-04-01 2023-03-31 07754096 2021-04-01 2022-03-31 07754096 2023-03-31 07754096 2022-03-31 07754096 c:Director1 2022-04-01 2023-03-31 07754096 d:PlantMachinery 2022-04-01 2023-03-31 07754096 d:PlantMachinery 2023-03-31 07754096 d:PlantMachinery 2022-03-31 07754096 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07754096 d:MotorVehicles 2022-04-01 2023-03-31 07754096 d:MotorVehicles 2023-03-31 07754096 d:MotorVehicles 2022-03-31 07754096 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07754096 d:OfficeEquipment 2022-04-01 2023-03-31 07754096 d:OfficeEquipment 2023-03-31 07754096 d:OfficeEquipment 2022-03-31 07754096 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07754096 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07754096 d:CurrentFinancialInstruments 2023-03-31 07754096 d:CurrentFinancialInstruments 2022-03-31 07754096 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07754096 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 07754096 d:ShareCapital 2023-03-31 07754096 d:ShareCapital 2022-03-31 07754096 d:RetainedEarningsAccumulatedLosses 2023-03-31 07754096 d:RetainedEarningsAccumulatedLosses 2022-03-31 07754096 c:FRS102 2022-04-01 2023-03-31 07754096 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 07754096 c:FullAccounts 2022-04-01 2023-03-31 07754096 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07754096 e:PoundSterling 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 07754096

KINGFISHER PROPERTY DEVELOPMENTS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

KINGFISHER PROPERTY DEVELOPMENTS LIMITED

REGISTERED NUMBER: 07754096

BALANCE SHEET

AS AT 31 MARCH 2023

		2023		2022
Note		£		£

Fixed assets
Tangible assets	4		4,335		6,638
			4,335		6,638
Current assets
Stocks		-		49,404
Debtors: amounts falling due within one year	5	71,214		6,551
Cash at bank and in hand	6	24,874		1,010
		96,088		56,965
Creditors: amounts falling due within one year	7	(117,604)		(82,170)
Net current liabilities			(21,516)		(25,205)
Total assets less current liabilities			(17,181)		(18,567)

Net liabilities			(17,181)		(18,567)

Capital and reserves
Called up share capital	100	100
Profit and loss account	(17,281)	(18,667)
	(17,181)	(18,567)

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KINGFISHER PROPERTY DEVELOPMENTS LIMITED

REGISTERED NUMBER: 07754096

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 12 December 2023.

................................................

Anthony Paul Fisher

Director

The notes on pages 3 to 7 form part of these financial statements.

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KINGFISHER PROPERTY DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

1.	General information

Kingfisher Property Development Limited is a company limited by shares which was incorporated in England.
The Registered Office of business is:
2 Michaels Court, Hanney Road, Southmoor, Oxford. OX13 5HR
The company's principal activity is that of a building and construction company..

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

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KINGFISHER PROPERTY DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant & machinery	-	20% straight line
Motor vehicles	-	20% straight line
Office equipment	-	25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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KINGFISHER PROPERTY DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

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KINGFISHER PROPERTY DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

4.	Tangible fixed assets

	Plant & machinery	Motor vehicles	Office equipment	Total
	£	£	£	£
Cost or valuation
At 1 April 2022	1,200	32,142	1,597	34,939
At 31 March 2023	1,200	32,142	1,597	34,939
Depreciation
At 1 April 2022	1,200	26,003	1,097	28,300
Charge for the year on owned assets	-	2,179	125	2,304
At 31 March 2023	1,200	28,182	1,222	30,604
Net book value
At 31 March 2023	-	3,960	375	4,335
At 31 March 2022	-	6,139	499	6,638

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KINGFISHER PROPERTY DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

Debtors

					2023	2022
					£	£


Other debtors	71,214	6,447
Tax recoverable	-	104
	71,214	6,551

6.	Cash and cash equivalents
		2023	2022
		£	£

Cash at bank and in hand	24,874	1,010
	24,874	1,010

7.	Creditors: Amounts falling due within one year
		2023	2022
		£	£

Bank loans	48,526	48,426
Other creditors	67,278	31,944
Accruals and deferred income	1,800	1,800
	117,604	82,170

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