2022-04-012023-03-312023-03-31false05656070KROBAR PROPERTIES 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KROBAR PROPERTIES LIMITED

Registered Number
05656070
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

KROBAR PROPERTIES LIMITED
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

CONNICK, Barry
KROKATSIS, Michael

Company Secretary

KROKATSIS, Michael

Registered Address

Grove House
2 Woodberry Grove
London
N12 0DR

Registered Number

05656070 (England and Wales)
KROBAR PROPERTIES LIMITED
Balance Sheet as at
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets778,917778,917
778,917778,917
Current assets
Debtors600-
Cash at bank and on hand12,13125,786
12,73125,786
Creditors amounts falling due within one year11(352,858)(391,781)
Net current assets (liabilities)(340,127)(365,995)
Total assets less current liabilities438,790412,922
Creditors amounts falling due after one year12(303,985)(303,985)
Net assets134,805108,937
Capital and reserves
Called up share capital100100
Profit and loss account134,705108,837
Shareholders' funds134,805108,937
The financial statements were approved and authorised for issue by the Board of Directors on 11 January 2024, and are signed on its behalf by:
KROKATSIS, Michael
Director
Registered Company No. 05656070
KROBAR PROPERTIES LIMITED
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company in the year under review was that of letting and operating of own or leased real estate.
4.Basis of measurement used in financial statements
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
5.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Property, plant and equipment policy
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
6.Employee information

20232022
Average number of employees during the year22
7.Revaluation of property, plant and equipment
The value of the investment property, which has been included at the cost, has been considered by the directors. The directors consider the property to be appropriately valued as at the balance sheet date.

2023

2022

££
Property, plant and equipment / tangible fixed assets778,917778,917
8.Description of nature of transactions and balances with related parties
As at the balance sheet date an amount of £152,727 (2022: £227,246) was due to the directors which is an interest free loan repayable on demand.
9.Further information regarding the company's financial position
The bank loans are secured by a legal charge over the investment property owned by the company.
10.Debtors within one year

2023

2022

££
Prepayments and accrued income600-
Total600-
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.
11.Creditors within one year

2023

2022

££
Taxation and social security6,0689,092
Other creditors345,215381,114
Accrued liabilities and deferred income1,5751,575
Total352,858391,781
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.
12.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts303,985303,985
Total303,985303,985