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Company Registration No. 11789668 (England and Wales)
KMG Investments Ltd Unaudited accounts for the year ended 31 January 2024
KMG Investments Ltd Unaudited accounts Contents
Page
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KMG Investments Ltd Company Information for the year ended 31 January 2024
Director
Kristopher McGrath
Company Number
11789668 (England and Wales)
Registered Office
The Offices 57 Newtown Road Hove East Sussex BN3 7BA England
Accountants
KMG Accountancy Ltd The Offices 57 Newtown Road Hove BN3 7BA
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KMG Investments Ltd Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
3,644 
1,069 
Investment property
582,065 
557,000 
585,709 
558,069 
Current assets
Cash at bank and in hand
(5,340)
5,186 
Creditors: amounts falling due within one year
(16,476)
(122,974)
Net current liabilities
(21,816)
(117,788)
Total assets less current liabilities
563,893 
440,281 
Creditors: amounts falling due after more than one year
(556,224)
(444,896)
Net assets/(liabilities)
7,669 
(4,615)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
7,668 
(4,616)
Shareholders' funds
7,669 
(4,615)
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 February 2024 and were signed on its behalf by
Kristopher McGrath Director Company Registration No. 11789668
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KMG Investments Ltd Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
KMG Investments Ltd is a private company, limited by shares, registered in England and Wales, registration number 11789668. The registered office is The Offices, 57 Newtown Road, Hove, East Sussex, BN3 7BA, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
5 years
Fixtures & fittings
5 years
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KMG Investments Ltd Notes to the Accounts for the year ended 31 January 2024
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 February 2023
499 
902 
1,401 
Additions
- 
3,071 
3,071 
At 31 January 2024
499 
3,973 
4,472 
Depreciation
At 1 February 2023
200 
132 
332 
Charge for the year
100 
396 
496 
At 31 January 2024
300 
528 
828 
Net book value
At 31 January 2024
199 
3,445 
3,644 
At 31 January 2023
299 
770 
1,069 
5
Investment property
2024 
£ 
Fair value at 1 February 2023
557,000 
Additions
10,081 
Net gain from fair value adjustments
14,984 
At 31 January 2024
582,065 
The Director valued the investment properties using publicly available data at the balance sheet date.
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
5,670 
5,278 
Other creditors
10,156 
23,133 
Loans from directors
- 
93,038 
Accruals
650 
650 
Deferred income
- 
875 
16,476 
122,974 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
441,767 
444,896 
Other creditors
32,018 
- 
Loans from directors
82,439 
- 
556,224 
444,896 
Aggregate of amounts that fall due for payment after five years
- 
444,896 
The Company's has provided its investment properties as security and granted fixed charges on those properties where appropriate.
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KMG Investments Ltd Notes to the Accounts for the year ended 31 January 2024
8
Transactions with related parties
During the year the Director loaned the Company funds for working capital purposes. The loan was interest free, unsecured and repayable on demand. The balance outstanding at the year-end was £84,439 (2023: £93,038).
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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