IRIS Accounts Production v23.1.5.20 10052741 director 1.4.22 31.3.23 31.3.23 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure100527412022-03-31100527412023-03-31100527412022-04-012023-03-31100527412021-03-31100527412021-04-012022-03-31100527412022-03-3110052741ns16:EnglandWales2022-04-012023-03-3110052741ns15:PoundSterling2022-04-012023-03-3110052741ns11:Director12022-04-012023-03-3110052741ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3110052741ns11:SmallEntities2022-04-012023-03-3110052741ns11:AuditExempt-NoAccountantsReport2022-04-012023-03-3110052741ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3110052741ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-3110052741ns11:FullAccounts2022-04-012023-03-3110052741ns11:OrdinaryShareClass12022-04-012023-03-3110052741ns11:RegisteredOffice2022-04-012023-03-3110052741ns6:CurrentFinancialInstruments2023-03-3110052741ns6:CurrentFinancialInstruments2022-03-3110052741ns6:Non-currentFinancialInstruments2023-03-3110052741ns6:Non-currentFinancialInstruments2022-03-3110052741ns6:ShareCapital2023-03-3110052741ns6:ShareCapital2022-03-3110052741ns6:RevaluationReserve2023-03-3110052741ns6:RevaluationReserve2022-03-3110052741ns6:RetainedEarningsAccumulatedLosses2023-03-3110052741ns6:RetainedEarningsAccumulatedLosses2022-03-3110052741ns6:FurnitureFittings2022-04-012023-03-3110052741ns6:FurnitureFittings2022-03-3110052741ns6:FurnitureFittings2023-03-3110052741ns6:FurnitureFittings2022-03-3110052741ns6:DeferredTaxation2022-03-3110052741ns6:DeferredTaxation2023-03-3110052741ns11:OrdinaryShareClass12023-03-31
REGISTERED NUMBER: 10052741 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

P Kamaie Property Limited

P Kamaie Property Limited (Registered number: 10052741)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


P Kamaie Property Limited

COMPANY INFORMATION
for the year ended 31 March 2023







Director: Mr P Kamaie





Registered office: Poltair
Seymour Road
Plymouth
Devon
PL3 5AR





Registered number: 10052741 (England and Wales)





Accountants: Nigel Webster & Co
129 North Hill
Plymouth
Devon
PL4 8JY

P Kamaie Property Limited (Registered number: 10052741)

BALANCE SHEET
31 March 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 - -
Investment property 5 590,000 590,000
590,000 590,000

Current assets
Debtors 6 70 70
Cash at bank 52,266 48,845
52,336 48,915
Creditors
Amounts falling due within one year 7 198,040 194,953
Net current liabilities (145,704 ) (146,038 )
Total assets less current liabilities 444,296 443,962

Creditors
Amounts falling due after more than
one year

8

(418,738

)

(418,738

)

Provisions for liabilities 10 (7,300 ) (7,300 )
Net assets 18,258 17,924

Capital and reserves
Called up share capital 11 100 100
Revaluation reserve 31,370 31,370
Retained earnings (13,212 ) (13,546 )
Shareholders' funds 18,258 17,924

P Kamaie Property Limited (Registered number: 10052741)

BALANCE SHEET - continued
31 March 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 October 2023 and were signed by:





Mr P Kamaie - Director


P Kamaie Property Limited (Registered number: 10052741)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2023

1. STATUTORY INFORMATION

P Kamaie Property Limited is a private company, limited by shares, registered in England and Wales. The company's registered number, registered office and business 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents amounts receivable in respect of rents received adjusted for amounts in advance or arrears at the balance sheet date.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Furnishings - 20% on cost

Investment property
Investment property is shown at fair value with any subsequent valuations arising being adjusted through the profit and loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.

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.

P Kamaie Property Limited (Registered number: 10052741)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Furnishings
£   
Cost
At 1 April 2022
and 31 March 2023 4,667
Depreciation
At 1 April 2022
and 31 March 2023 4,667
Net book value
At 31 March 2023 -
At 31 March 2022 -

P Kamaie Property Limited (Registered number: 10052741)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

5. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 April 2022
and 31 March 2023 590,000
Net book value
At 31 March 2023 590,000
At 31 March 2022 590,000

Fair value at 31 March 2022 is represented by:

£
Valuation in 2022 38,670
Cost 551,330
590,000


The property was revalued by the director based upon open market value as at the balance sheet date.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Prepayments 70 70

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 7,018 5,891
Director's Family loans 188,182 186,270
Accruals and deferred income 2,840 2,792
198,040 194,953

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Mortgage 418,738 418,738

P Kamaie Property Limited (Registered number: 10052741)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Mortgage 418,738 418,738

The mortgage is secured on the investment property and is wholly repayable more than five years after the balance sheet date.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 7,300 7,300

Deferred
tax
£   
Balance at 1 April 2022 7,300
Balance at 31 March 2023 7,300

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

12. RELATED PARTY DISCLOSURES

At the balance sheet date the following amounts were owed to related parties : -

£
P Kamaie (director)52,382
L Kamaie (mother of director)135,800

The amounts were unsecured and carried no fixed term of repayment.

During the year, the company paid interest as follows to related parties:


£
P Kamaie (director)1,000
L Kamaie (mother of director)1,000