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Registration number: 13598281

Kalm Estate Agents Limited

Unaudited Financial Statements

for the Period from 1 October 2022 to 29 September 2023

 

Kalm Estate Agents Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Kalm Estate Agents Limited

Company Information

Director

Miss Linzi Davis

Registered office

29 Shephall Green
Stevenage
SG2 9XS

 

Kalm Estate Agents Limited

(Registration number: 13598281)
Balance Sheet as at 29 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

15,594

21,927

Current assets

 

Debtors

6

2,617

1,546

Cash at bank and in hand

 

2,224

7,411

 

4,841

8,957

Creditors: Amounts falling due within one year

7

(79,961)

(57,898)

Net current liabilities

 

(75,120)

(48,941)

Total assets less current liabilities

 

(59,526)

(27,014)

Provisions for liabilities

5,146

5,146

Net liabilities

 

(54,380)

(21,868)

Capital and reserves

 

Called up share capital

2

2

Retained earnings

(54,382)

(21,870)

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:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

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 director on 31 August 2024
 

 

Kalm Estate Agents Limited

(Registration number: 13598281)
Balance Sheet as at 29 September 2023

.........................................
Miss Linzi Davis
Director

   
     
 

Kalm Estate Agents Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 29 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
29 Shephall Green
Stevenage
SG2 9XS
England

These financial statements were authorised for issue by the director on 31 August 2024.

2

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 2 (2022 - 1).

4

Loss before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

7,042

8,837

 

Kalm Estate Agents Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 29 September 2023

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 October 2022

1,872

27,698

1,194

30,764

Additions

710

-

-

710

At 29 September 2023

2,582

27,698

1,194

31,474

Depreciation

At 1 October 2022

349

8,379

109

8,837

Charge for the period

548

6,375

120

7,043

At 29 September 2023

897

14,754

229

15,880

Carrying amount

At 29 September 2023

1,685

12,944

965

15,594

At 30 September 2022

1,523

19,319

1,085

21,927

6

Debtors

2023
£

2022
£

Prepayments

-

1,545

Other debtors

2,617

1

2,617

1,546

 

Kalm Estate Agents Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 29 September 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

-

1,478

Taxation and social security

341

-

Accruals and deferred income

6,093

2,647

Other creditors

73,527

53,773

79,961

57,898

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

         

9

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

(52,916)

2,124

(4,104)

(54,895)

2022

At 1 September 2021
£

Advances to director
£

Repayments by director
£

At 30 September 2022
£

Miss Linzi Davis

-

696

(53,611)

(52,916)

 

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.

10

Ultimate controlling party

The ultimate controlling party is Miss L Davis and Mr A King, by virtue of their shareholdings.