Registration number:
Kalm Estate Agents Limited
for the Period from 1 October 2022 to 29 September 2023
Kalm Estate Agents Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Kalm Estate Agents Limited
Company Information
Director |
Miss Linzi Davis |
Registered office |
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Kalm Estate Agents Limited
(Registration number: 13598281)
Balance Sheet as at 29 September 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
( |
( |
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Provisions for liabilities |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
2 |
2 |
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Retained earnings |
(54,382) |
(21,870) |
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Shareholders' deficit |
(54,380) |
(21,868) |
For the financial period ending 29 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
Kalm Estate Agents Limited
(Registration number: 13598281)
Balance Sheet as at 29 September 2023
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Kalm Estate Agents Limited
Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 29 September 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis. At the balance sheet date, the company had net current liabilities of £75,120 (2022: £48,941) and retained losses of £54,382 (2022: £21,870). The director has pledged to continue to financially support the company for the foreseeable future. On this basis, the director feels it is appropriate to prepare these financial statements on a going concern basis.
Kalm Estate Agents Limited
Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 29 September 2023
Judgements
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Furniture, fittings and equipment |
25% straight line |
Motor vehicles |
33% reducing balance |
Plant and machinery |
10% straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Kalm Estate Agents Limited
Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 29 September 2023
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised at the transaction price.
Trade debtors are reviewed for bad debts on an annual basis. Any adjustment is made accordingly
through the profit and loss account.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised at the transaction price.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including the director) during the period, was
Loss before tax |
Arrived at after charging/(crediting)
2023 |
2022 |
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Depreciation expense |
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Kalm Estate Agents Limited
Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 29 September 2023
Tangible assets |
Furniture, fittings and equipment |
Motor vehicles |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 October 2022 |
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Additions |
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- |
- |
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At 29 September 2023 |
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Depreciation |
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At 1 October 2022 |
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Charge for the period |
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At 29 September 2023 |
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Carrying amount |
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At 29 September 2023 |
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At 30 September 2022 |
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Debtors |
2023 |
2022 |
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Prepayments |
- |
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Other debtors |
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Kalm Estate Agents Limited
Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 29 September 2023
Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
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Due within one year |
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Trade creditors |
- |
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Taxation and social security |
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- |
Accruals and deferred income |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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2 |
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2 |
Related party transactions |
Transactions with the director |
2023 |
At 1 October 2022 |
Advances to director |
Repayments by director |
At 29 September 2023 |
Miss Linzi Davis |
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( |
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( |
( |
2022 |
At 1 September 2021 |
Advances to director |
Repayments by director |
At 30 September 2022 |
Miss Linzi Davis |
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- |
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( |
( |
Kalm Estate Agents Limited
Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 29 September 2023
Interest is charged on this loan at a market rate of 5% per annum and the loan is repayable on demand.
Ultimate controlling party |
The ultimate controlling party is