Kamakura Properties Limited 08330803 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of letting properties Digita Accounts Production Advanced 6.30.9574.0 true 08330803 2023-01-01 2023-12-31 08330803 2023-12-31 08330803 core:CurrentFinancialInstruments 2023-12-31 08330803 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 08330803 core:Non-currentFinancialInstruments 2023-12-31 08330803 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 08330803 bus:SmallEntities 2023-01-01 2023-12-31 08330803 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 08330803 bus:FullAccounts 2023-01-01 2023-12-31 08330803 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08330803 bus:RegisteredOffice 2023-01-01 2023-12-31 08330803 bus:Director1 2023-01-01 2023-12-31 08330803 bus:Director2 2023-01-01 2023-12-31 08330803 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08330803 countries:England 2023-01-01 2023-12-31 08330803 2022-12-31 08330803 2022-01-01 2022-12-31 08330803 2022-12-31 08330803 core:CurrentFinancialInstruments 2022-12-31 08330803 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 08330803 core:Non-currentFinancialInstruments 2022-12-31 08330803 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 08330803

Kamakura Properties Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Kamakura Properties Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Kamakura Properties Limited

Company Information

Directors

Mrs L A Bain

Mr A C Bain

Registered office

50 Russell Terrace
Leamington Spa
Warwickshire
CV31 1HE

Accountants

GMR Accountants Ltd
1st Floor
8/12 London Street
Southport
Merseyside
PR9 0UE

 

Kamakura Properties Limited

(Registration number: 08330803)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

608,489

652,675

Current assets

 

Cash at bank and in hand

 

2,817

18,347

Creditors: Amounts falling due within one year

5

(64,348)

(95,829)

Net current liabilities

 

(61,531)

(77,482)

Total assets less current liabilities

 

546,958

575,193

Creditors: Amounts falling due after more than one year

5

(100,000)

(200,000)

Net assets

 

446,958

375,193

Capital and reserves

 

Retained earnings

446,958

375,193

Shareholders' funds

 

446,958

375,193

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 28 February 2024 and signed on its behalf by:
 

.........................................
Mr A C Bain
Director

 

Kamakura Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
50 Russell Terrace
Leamington Spa
Warwickshire
CV31 1HE

These financial statements were authorised for issue by the Board on 28 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

Kamakura Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Investment properties

2023
£

At 1 January

652,675

Disposals

(44,186)

At 31 December

608,489

There has been no valuation of investment property by an independent valuer.

 

Kamakura Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

6

33,310

66,169

Trade creditors

 

1,560

942

Other creditors

 

29,478

28,718

 

64,348

95,829

Due after one year

 

Loans and borrowings

6

100,000

200,000

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

6

100,000

200,000

6

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

100,000

200,000

2023
£

2022
£

Current loans and borrowings

Other borrowings

33,310

66,169

 

Kamakura Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

7

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

23,790

19,680