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REGISTERED NUMBER: 11643097 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

K (Bham) Limited

K (Bham) Limited (Registered number: 11643097)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


K (Bham) Limited (Registered number: 11643097)

Statement of Financial Position
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 338 430
Investment property 5 2,990,000 2,990,000
2,990,338 2,990,430

CURRENT ASSETS
Debtors 6 12,889 7,260
Cash at bank 43,672 40,765
56,561 48,025
CREDITORS
Amounts falling due within one year 7 1,177,847 1,153,529
NET CURRENT LIABILITIES (1,121,286 ) (1,105,504 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,869,052

1,884,926

CREDITORS
Amounts falling due after more than
one year

8

(1,611,297

)

(1,619,709

)

PROVISIONS FOR LIABILITIES (51,368 ) (52,768 )
NET ASSETS 206,387 212,449

K (Bham) Limited (Registered number: 11643097)

Statement of Financial Position - continued
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 9 100 100
Fair value reserve 10 235,737 234,337
Retained earnings (29,450 ) (21,988 )
SHAREHOLDERS' FUNDS 206,387 212,449

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 5 March 2024 and were signed on its behalf by:





Mr J W Lee - Director


K (Bham) Limited (Registered number: 11643097)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

K (Bham) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11643097

Registered office: 30 Howard Road Yardley
Birmingham
United Kingdom
B25 8AL

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents the fair value of rent received or receivable from the investment properties, 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.
Fixtures and fittings - 15% on cost

Investment property
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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.


K (Bham) Limited (Registered number: 11643097)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and
fittings
£   
COST
At 1 July 2022
and 30 June 2023 614
DEPRECIATION
At 1 July 2022 184
Charge for year 92
At 30 June 2023 276
NET BOOK VALUE
At 30 June 2023 338
At 30 June 2022 430

K (Bham) Limited (Registered number: 11643097)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022
and 30 June 2023 2,990,000
NET BOOK VALUE
At 30 June 2023 2,990,000
At 30 June 2022 2,990,000

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2022 287,105
Cost 2,702,895
2,990,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Other debtors 12,889 7,260

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Other creditors 1,177,847 1,153,529

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans 1,067,737 1,089,407
Other creditors 543,560 530,302
1,611,297 1,619,709

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,067,737 1,089,407

K (Bham) Limited (Registered number: 11643097)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
100 Ordinary A £1 100 100

10. RESERVES
Fair
value
reserve
£   
At 1 July 2022 234,337
Transfer to/from reserves 1,400

At 30 June 2023 235,737

11. RELATED PARTY DISCLOSURES

During the year the company incurred interest costs totalling £28,002 (2022: £26,899) under an unsecured bond instrument from John and Marrynette Lee Partnership, a partnership registered in Jamaica, of which the company shares common principals. Interest is accrued at a fixed rate of 2.5% per annum and is considered to be at the market rate. £1,120,071 (2022: £1,145,074) was outstanding at the end of the period and has been included within Directors' loan accounts.

During the year the company incurred interest costs totalling £13,258 (2022: £12,934) under an unsecured bond instrument from K Limited, a company registered in Jamaica, of which the company shares common shareholders and directors. Interest is accrued at a fixed rate of 2.5% per annum and is considered to be at the market rate. £543,560 (2022: £530,302) was outstanding at the end of the period and has been included within Other Creditors.