REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30th November 2023 |
for |
KKMC SERVICES LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30th November 2023 |
for |
KKMC SERVICES LIMITED |
KKMC SERVICES LIMITED (REGISTERED NUMBER: 09293215) |
Contents of the Financial Statements |
for the Year Ended 30th November 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
KKMC SERVICES LIMITED |
Company Information |
for the Year Ended 30th November 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
41 St Thomas's Road |
Chorley |
Lancashire |
PR7 1JE |
KKMC SERVICES LIMITED (REGISTERED NUMBER: 09293215) |
Balance Sheet |
30th November 2023 |
30.11.23 | 30.11.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
KKMC SERVICES LIMITED (REGISTERED NUMBER: 09293215) |
Balance Sheet - continued |
30th November 2023 |
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 |
KKMC SERVICES LIMITED (REGISTERED NUMBER: 09293215) |
Notes to the Financial Statements |
for the Year Ended 30th November 2023 |
1. | STATUTORY INFORMATION |
KKMC Services Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Revenue recognition |
Revenue represents the value of net rents receivable for the total period of property occupation. |
Investment property |
Investment property is property held to earn rentals. It is initially measured at acquisition cost, including transaction costs. Subsequently it is measured at fair value on an open market basis. Deferred tax is provided on these movements. Gains and losses arising from changes in fair value are included in the Statement of Income and Retained Earnings in which they arise. |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS 102 to all its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
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 balance sheet date. |
Cash and cash equivalents |
Cash and cash equivalents includes cash in hand, deposits held with banks, and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st December 2022 |
and 30th November 2023 |
NET BOOK VALUE |
At 30th November 2023 |
At 30th November 2022 |
KKMC SERVICES LIMITED (REGISTERED NUMBER: 09293215) |
Notes to the Financial Statements - continued |
for the Year Ended 30th November 2023 |
4. | INVESTMENT PROPERTY - continued |
No significant change in the valuation of the property has occurred in the year ended 30th November 2022 . |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Trade debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Bank loans and overdrafts (see note 8) |
Tax |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Bank loans (see note 8) |
Directors Loan Account | 41,500 | 40,000 |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 22,252 | 34,382 |
8. | LOANS |
An analysis of the maturity of loans is given below: |
30.11.23 | 30.11.22 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
Amounts falling due in more than five years: |
KKMC SERVICES LIMITED (REGISTERED NUMBER: 09293215) |
Notes to the Financial Statements - continued |
for the Year Ended 30th November 2023 |
8. | LOANS - continued |
30.11.23 | 30.11.22 |
£ | £ |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 22,252 | 34,382 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.11.23 | 30.11.22 |
£ | £ |
Bank loans |
The company's bank borrowings are secured by a first legal charge over the company's assets, dated 4th October 2019. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.11.23 | 30.11.22 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
11. | RELATED PARTY DISCLOSURES |
As at 30th November 2023, the company owed to its directors £41.500 (2022 - £40,000). No interest has been charged to the company in respect of this loan and there is no formal repayment date for this loan. |
12. | ULTIMATE CONTROLLING PARTY |
Throughout the current and previous year, Mr K Karagiannidis and Mrs M Christophorou have controlled the company by virtue of their holding 100% of the issued ordinary share capital. |