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REGISTERED NUMBER: 07545517 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

KUDOS PROPERTY INVESTMENTS LIMITED

KUDOS PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 07545517)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KUDOS PROPERTY INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 February 2024







DIRECTORS: M Economides
G Economides
M A Economides





REGISTERED OFFICE: 12 Gateway Mews
Ringway
London
N11 2UT





REGISTERED NUMBER: 07545517 (England and Wales)





ACCOUNTANTS: G. George Associates Limited
Chartered Certified Accountants
12 Gateway Mews
Ring Way
London
N11 2UT

KUDOS PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 07545517)

BALANCE SHEET
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 23,258 22,454
Investment property 5 15,773,108 15,048,633
15,796,366 15,071,087

CURRENT ASSETS
Debtors 6 867,015 960,025
Cash at bank 155,898 45,780
1,022,913 1,005,805
CREDITORS
Amounts falling due within one year 7 4,158,105 4,294,082
NET CURRENT LIABILITIES (3,135,192 ) (3,288,277 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,661,174

11,782,810

CREDITORS
Amounts falling due after more than one
year

8

(7,417,468

)

(7,403,616

)

PROVISIONS FOR LIABILITIES (673,394 ) (492,275 )
NET ASSETS 4,570,312 3,886,919

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 10 2,819,061 2,275,705
Retained earnings 1,751,151 1,611,114
SHAREHOLDERS' FUNDS 4,570,312 3,886,919

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

KUDOS PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 07545517)

BALANCE SHEET - continued
29 February 2024


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 13 August 2024 and were signed on its behalf by:




M Economides - Director G Economides - Director




M A Economides - Director


KUDOS PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 07545517)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 February 2024

1. STATUTORY INFORMATION

Kudos Property Investments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 is measured at the fair value of the consideration received or receivable, 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 - 25% on reducing balance
Computer equipment - 25% on reducing balance

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. Deferred taxation is provided on such surplus or deficit at the rate expected to apply when the property is sold.

The fair value profits on investment property is not a realised profit available for distribution. In order to differentiate the non-distributable proftits with the distributable profits of the company, any fair value movements on investment property less the deferred tax on such movements is transferred from retained earnings to fair value reserves, which is a non-distributable reserve.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

KUDOS PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 07545517)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 February 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2023 61,717 8,346 70,063
Additions 8,556 - 8,556
At 29 February 2024 70,273 8,346 78,619
DEPRECIATION
At 1 March 2023 43,201 4,408 47,609
Charge for year 6,768 984 7,752
At 29 February 2024 49,969 5,392 55,361
NET BOOK VALUE
At 29 February 2024 20,304 2,954 23,258
At 28 February 2023 18,516 3,938 22,454

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 15,048,633
Revaluations 724,475
At 29 February 2024 15,773,108
NET BOOK VALUE
At 29 February 2024 15,773,108
At 28 February 2023 15,048,633

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2016 1,074,208
Valuation in 2017 914,924
Valuation in 2018 243,774
Valuation in 2019 221,535
Valuation in 2022 313,539
Valuation in 2023 724,475
Cost 12,280,653
15,773,108

KUDOS PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 07545517)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 February 2024

5. INVESTMENT PROPERTY - continued

If investment property had not been revalued it would have been included at the following historical cost:

29.2.24 28.2.23
£    £   
Cost 12,280,653 12,280,653

Investment property was valued by the directors on an open market basis at the balance sheet date.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 5,015 6,752
Other debtors 862,000 953,273
867,015 960,025

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 44,559 43,320
Trade creditors 198 302
Taxation and social security 51,818 43,578
Other creditors 4,061,530 4,206,882
4,158,105 4,294,082

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 7,417,468 7,403,616

9. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Bank loans 7,462,027 7,446,936

10. RESERVES
Fair
value
reserve
£   
At 1 March 2023 2,275,705
Fair value movements net of deferred tax trfd
from retained earnings

543,356


At 29 February 2024 2,819,061