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REGISTERED NUMBER: 06532671 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

Kitazono Property Limited

Kitazono Property Limited (Registered number: 06532671)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Kitazono Property Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: T Kitazono
E T Kitazono





SECRETARY: E T Kitazono





REGISTERED OFFICE: 29 Edgehill Road
Purley
Surrey
CR8 2ND





REGISTERED NUMBER: 06532671 (England and Wales)





ACCOUNTANTS: Thornton Springer LLP
Chartered Accountants
67 Westow Street
London
SE19 3RW

Kitazono Property Limited (Registered number: 06532671)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £   
FIXED ASSETS
Investment property 5 3,370,500 3,745,000

CURRENT ASSETS
Debtors 6 345 305
Cash at bank and in hand 464,157 441,168
464,502 441,473
CREDITORS
Amounts falling due within one year 7 (76,329 ) (115,468 )
NET CURRENT ASSETS 388,173 326,005
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,758,673

4,071,005

PROVISIONS FOR LIABILITIES (217,700 ) (310,000 )
NET ASSETS 3,540,973 3,761,005

CAPITAL AND RESERVES
Called up share capital 8 2 2
Fair value reserve 1,572,933 1,855,133
Retained earnings 1,968,038 1,905,870
SHAREHOLDERS' FUNDS 3,540,973 3,761,005

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

Kitazono Property Limited (Registered number: 06532671)

Balance Sheet - continued
30 November 2023


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 23 August 2024 and were signed on its behalf by:





T Kitazono - Director


Kitazono Property Limited (Registered number: 06532671)

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

1. STATUTORY INFORMATION

Kitazono Property 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

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 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

Kitazono Property Limited (Registered number: 06532671)

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022 3,745,000
Revaluations (374,500 )
At 30 November 2023 3,370,500
NET BOOK VALUE
At 30 November 2023 3,370,500
At 30 November 2022 3,745,000

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2020 2,115,133
Valuation in 2022 50,000
Valuation in 2023 (374,500 )
Cost 1,579,867
3,370,500

If the investment properties had not been revalued they would have been included at the following historical cost:

30.11.23 30.11.22
£    £   
Cost 1,579,867 1,579,867

The investment properties were valued on a fair value basis on 30 November 2023 by Mr T Kitazono, one of the directors.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Other debtors 345 305

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Taxation and social security 16,545 2,084
Other creditors 59,784 113,384
76,329 115,468

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
2 Ordinary £1 2 2