Registered number
04269239
KAMRY PROPERTIES LIMITED
Unaudited Filleted Accounts
31 August 2023
TEMPLETONS (UK) LTD
CHARTERED ACCOUNTANTS
309 HOE STREET
WALTHAMSTOW
LONDON E17 9BG
KAMRY PROPERTIES LIMITED
Registered number: 04269239
Balance Sheet
as at 31 August 2023
Notes 31/8/23 30/5/23
£ £
Fixed assets
Tangible assets 3 4,565,964 4,571,304
Current assets
Debtors 4 186,432 178,032
Cash at bank and in hand 550,067 587,520
736,499 765,552
Creditors: amounts falling due within one year 5 (549,946) (561,051)
Net current assets 186,553 204,501
Total assets less current liabilities 4,752,517 4,775,805
Creditors: amounts falling due after more than one year 6 (833,762) (843,277)
Provisions for liabilities (495,692) (495,692)
Net assets 3,423,063 3,436,836
Capital and reserves
Called up share capital 100 100
Revaluation reserve 7 2,113,214 2,113,214
Profit and loss account 1,309,749 1,323,522
Shareholders' funds 3,423,063 3,436,836
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Y Mussadiq
Director
Approved by the board on 26 June 2024
KAMRY PROPERTIES LIMITED
Notes to the Accounts
for the period from 31 May 2023 to 31 August 2023
1 Accounting policies
Basis of preparation
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).
Turnover
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing Balance
Fixtures, fittings, tools and equipment 25% reducing Balance
Motor van 25% reducing Balance
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 31/8/23 30/5/23
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 31 May 2023 4,550,000 28,436 27,802 4,606,238
At 31 August 2023 4,550,000 28,436 27,802 4,606,238
Depreciation
At 31 May 2023 - 27,984 6,950 34,934
Charge for the period - 127 5,213 5,340
At 31 August 2023 - 28,111 12,163 40,274
Net book value
At 31 August 2023 4,550,000 325 15,639 4,565,964
At 30 May 2023 4,550,000 452 20,852 4,571,304
4 Debtors 31/8/23 30/5/23
£ £
Amounts owed by associated companies (see note 8 below) 186,432 178,032
5 Creditors: amounts falling due within one year 31/8/23 30/5/23
£ £
Bank loans and overdrafts 10,650 10,650
Trade creditors 1,129 2,631
Amounts owed to associated companies (see note 8 below) 462,701 462,701
Corporation tax 31,961 24,438
Other taxes and social security costs 1,106 (192)
Other creditors 42,399 60,823
549,946 561,051
6 Creditors: amounts falling due after one year 31/8/23 30/5/23
£ £
Bank loans 144,485 152,543
Obligations under finance lease and hire purchase contracts 14,277 15,734
Other creditors 675,000 675,000
833,762 843,277
7 Revaluation reserve 31/8/23 30/5/23
£ £
At 31 May 2023 2,113,214 2,113,214
At 31 August 2023 2,113,214 2,113,214
This related to the gain arising on the revaluation of the company's investment properties as at
31 August 2023, based on a valuation conducted by the directors of the company based on
open market values. The directors are not aware of any material change in value since the
date of valuation.
8 Related party transactions
A City Inn Express Ltd
Relationship: Under common control
Nature of transaction: Intercompany transaction
31/8/23 30/5/23
£ £
Amount due at year end : Due to City Inn Express Ltd 462,701 462,701
B City Inn Express (Leyton) Ltd
Relationship: Under common control
Nature of transaction: Intercompany balance
Amount due at year end : Due from City Inn Express 166,532 166,532
(Leyton) Ltd
C City Inn Express London Fields Ltd
Relationship: Under common control
Nature of transaction: Intercompany transaction
Amount due at year end : Due from City Inn London 19,900 11,500
Fields Ltd
9 Controlling party
The company was under the control of Mr. M Hussain, who is the director and shareholder of the company.
10 Other information
KAMRY PROPERTIES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
309 Hoe Street
Walthamstow
London
E17 9BG
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