Kerrus Properties Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 05312833 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023

FOR

KERRUS PROPERTIES LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

A J Norcott

SECRETARY:

K A Egan

REGISTERED OFFICE:

Holly Lodge

Lodge Green Lane North

Meriden

West Midlands

CV7 7JZ

REGISTERED NUMBER:

05312833 (England and Wales)

ACCOUNTANTS:

Clive Shedd & Co

Chartered Accountants

232 Sladepool Farm Road

Birmingham

B14 5EE

FIXED ASSETS

Tangible assets

5

1,338,786

1,595,980

CURRENT ASSETS

Debtors

6

13,479

29,562

Cash at bank

309,649

87,659

323,128

117,221

CREDITORS

Amounts falling due within one year

7

133,252

167,166

NET CURRENT ASSETS/(LIABILITIES)

189,876

(49,945

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,528,662

1,546,035

CREDITORS

Amounts falling due after more than one year

8

(415,213

)

(645,392

)

PROVISIONS FOR LIABILITIES

(21,950

)

(21,430

)

NET ASSETS

1,091,499

879,213

CAPITAL AND RESERVES

Called up share capital

10

1,000

1,000

Retained earnings

1,090,499

878,213

SHAREHOLDERS' FUNDS

1,091,499

879,213

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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 29 January 2024 and were signed by:

A J Norcott - Director

1.	STATUTORY INFORMATION

Kerrus 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

In preparing these financial statements the company's management make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities at the statement of financial position date and the amounts reported in the income statement for the year under review.

The nature of estimates means that the actual outcome could differ and the company's management consider there are no estimates or assumptions that have a significant risk of causing a material adjustment to the amounts reported for assets and liabilities within the next financial year.

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.

Land and buildings

-

not provided

Plant and machinery etc

-

15% on reducing balance

The residual value of the company's land and buildings is at least equal to its book value. Consequently a depreciation charge is considered to be immaterial.

Tangible fixed assets are initially recorded at cost.

Financial instruments

Basic financial assets and liabilities are initially recognised at transaction price and are subsequently measured at amortised cost.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

4.	EMPLOYEES AND DIRECTORS

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

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 May 2022

1,588,150

15,000

1,603,150

Disposals

(256,020

)

-

(256,020

)

At 30 April 2023

1,332,130

15,000

1,347,130

DEPRECIATION

At 1 May 2022

-

7,170

7,170

Charge for year

-

1,174

1,174

At 30 April 2023

-

8,344

8,344

NET BOOK VALUE

At 30 April 2023

1,332,130

6,656

1,338,786

At 30 April 2022

1,588,150

7,830

1,595,980

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

5,136

13,220

Other debtors

8,343

4,131

Prepayments and accrued income

-

12,211

13,479

29,562

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

37,138

55,294

Trade creditors

32,449

38,807

Taxation and social security

49,632

31,038

Other creditors

8,333

38,559

Accruals and deferred income

5,700

3,468

133,252

167,166

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans - 1 to 2 years

37,442

57,350

Bank loans - 2 to 5 years

105,775

181,961

Bank loans - over 5 years

271,996

406,081

415,213

645,392

2023

2022

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans - over 5 years

271,996

406,081

9.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Bank loans

452,351

700,686

Bank borrowings are secured by legal charges over the company's land and buildings and by a debenture over the company's assets.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

1,000

Ordinary

£1

1,000

1,000