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REGISTERED NUMBER: 10225652 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

KALMAX INVESTMENTS LIMITED

KALMAX INVESTMENTS LIMITED (REGISTERED NUMBER: 10225652)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

KALMAX INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mrs A Richard
A Rutherford





REGISTERED OFFICE: Unit B2, Birdineye Farm
Birdineye Hill
Uckfield
East Sussex
TN22 5HA





REGISTERED NUMBER: 10225652 (England and Wales)





ACCOUNTANTS: Perspective Accounting Limited
Unit B2, Birdineye Farm
Birdineye Hill
Uckfield
East Sussex
TN22 5HA

KALMAX INVESTMENTS LIMITED (REGISTERED NUMBER: 10225652)

BALANCE SHEET
31 MARCH 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,386 -
Investment property 5 2,200,000 2,200,000
2,201,386 2,200,000

CURRENT ASSETS
Debtors 6 180 6,704
Cash at bank 69,122 82,773
69,302 89,477
CREDITORS
Amounts falling due within one year 7 1,202,557 1,273,652
NET CURRENT LIABILITIES (1,133,255 ) (1,184,175 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,068,131

1,015,825

PROVISIONS FOR LIABILITIES 133,212 119,836
NET ASSETS 934,919 895,989

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 8 359,509 359,509
Retained earnings 8 575,310 536,380
934,919 895,989

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

KALMAX INVESTMENTS LIMITED (REGISTERED NUMBER: 10225652)

BALANCE SHEET - continued
31 MARCH 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 October 2024 and were signed on its behalf by:




Mrs A Richard - Director



A Rutherford - Director


KALMAX INVESTMENTS LIMITED (REGISTERED NUMBER: 10225652)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Kalmax 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.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Rental income is recognised on an accruals basis over the period of the lease at the rates invoiced, with income invoiced in advance being treated as deferred income. This is also the case for insurance charges made to tenants.

Trading income from the sale of properties is recognised in full in the year of the completion of the disposal of the property.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

The basis of valuation is Open Market Value based on comparable evidence from similar properties in the vicinity of the subject property. The comparable evidence is a combination of rental, sales and investment yields in line with RICS guidelines.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


KALMAX INVESTMENTS LIMITED (REGISTERED NUMBER: 10225652)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 1,848
At 31 March 2024 1,848
DEPRECIATION
Charge for year 462
At 31 March 2024 462
NET BOOK VALUE
At 31 March 2024 1,386

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 2,200,000
NET BOOK VALUE
At 31 March 2024 2,200,000
At 31 March 2023 2,200,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 2,200,000

KALMAX INVESTMENTS LIMITED (REGISTERED NUMBER: 10225652)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. INVESTMENT PROPERTY - continued

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

31/3/24 31/3/23
£    £   
Cost 1,720,655 1,720,655

Investment property was valued on an open market basis on 31 March 2024 by Oliver Chapman, MRICS, .

Mr Chapman is an employee of associated company, Kalmax Properties Limited.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Other debtors 180 6,704

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade creditors 11,000 20,005
Taxation and social security 13,471 119,552
Other creditors 1,178,086 1,134,095
1,202,557 1,273,652

8. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 April 2023 536,380 359,509 895,889
Profit for the year 38,930 - 38,930
At 31 March 2024 575,310 359,509 934,819

9. RELATED PARTY DISCLOSURES

During the year, the company was provided with a loan from Kalmax Properties Limited, a company controlled by a director. The balance of this loan was £1,131,405 at the start of the year and the balance remained the same during the year.

This loan was interest free until 31 March 2023, whereby interest was then charged at 4%. At the year end, interest accrued on this loan totalling £45,256.21. This loan is repayable on demand although it is expected that repayments will be made over a number of years.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
KALMAX INVESTMENTS LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kalmax Investments Limited for the year ended 31 March 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Kalmax Investments Limited, as a body, in accordance with the terms of our engagement letter dated 4 June 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Kalmax Investments Limited and state those matters that we have agreed to state to the Board of Directors of Kalmax Investments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kalmax Investments Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Kalmax Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Kalmax Investments Limited. You consider that Kalmax Investments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Kalmax Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Perspective Accounting Limited
Unit B2, Birdineye Farm
Birdineye Hill
Uckfield
East Sussex
TN22 5HA


9 October 2024