Company No: SC685330 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	31.03.2023		31.03.2022
		£		£
Fixed assets
Investments	3	250,000		250,000
		250,000		250,000
Current assets
Debtors	4	1		1
		1		1
Net current assets		1		1
Total assets less current liabilities		250,001		250,001
Net assets		250,001		250,001
Capital and reserves
Called-up share capital	5	20,000		20,000
Other reserves		230,001		230,001
Total shareholders' funds		250,001		250,001

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Kingsford Development Group Limited (registered number: SC685330) were approved and authorised for issue by the Director on 20 December 2023. They were signed on its behalf by:

Mr J A Watts Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Kingsford Development Group Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 14 Albany Street, Edinburgh, EH1 3QB, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Reporting period length

The reporting period covers 12 months from 1 April 22 to 31 March 23. The previous accounting period covers 15 months from incorporation on 7 January 2021 to 31 March 2022.

Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

	Year ended 31.03.2023		Period from 07.01.2021 to 31.03.2022
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	1		1

3. Fixed asset investments

Investments in subsidiaries

	31.03.2023
	£
Cost
At 01 April 2022	250,000
At 31 March 2023	250,000
Carrying value at 31 March 2023	250,000
Carrying value at 31 March 2022	250,000

Investments in shares

Name of entity	Registered office	Nature of business	Class of shares	Ownership 31.03.2023	Ownership 31.03.2022
Kingsford Developments Limited	14 Albany Street, Edinburgh, EH1 3QB	Property rental and lending of money whilst also seeking potential property development opportunities	Ordinary	100.00%	100.00%

4. Debtors

	31.03.2023		31.03.2022
	£		£
Other debtors	1		1

5. Called-up share capital

	31.03.2023		31.03.2022
	£		£
Allotted, called-up and fully-paid
20,000 Ordinary shares of £ 1.00 each	20,000		20,000

6. Related party transactions

In the year ended 31 March 2023, there were no related party transactions.