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Registered Number: 13184023
England and Wales

 

 

 

KBR PROPERTY ESTATES LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
 

 
Notes

 
2023
£

  2022
£
(as restated)
Fixed assets      
Tangible fixed assets 3 3,011,354    3,011,354 
3,011,354    3,011,354 
Current assets      
Cash at bank and in hand 86,655    6,304 
Creditors: amount falling due within one year 4 (72,083)   (64,984)
Net current assets 14,572    (58,680)
 
Total assets less current liabilities 3,025,926    2,952,674 
Creditors: amount falling due after more than one year 5 (2,216,844)   (2,156,032)
Net assets 809,082    796,642 
 

Capital and reserves
     
Called up share capital 6 102    102 
Share premium account 7 777,012    777,012 
Profit and loss account 31,968    19,528 
Shareholders' funds 809,082    796,642 
 


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 04 November 2024 and were signed on its behalf by:


-------------------------------
Fayezul KABIR
Director
1
General Information
KBR Property Estates Ltd is a private company, limited by shares, registered in England and Wales, registration number 13184023, registration address Flat 284 41 Millharbour, London, E14 9NH.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognized in the statement of income, except to the extent that it relates to items recognized in other comprehensive income or directly in capital and reserves. The companys liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
2.

Average number of employees

Average number of employees during the year was 0 (2022 : 0).
3.

Tangible fixed assets

Cost or valuation Investment properties   Total
  £   £
At 01 January 2023 3,011,354    3,011,354 
Additions  
Disposals  
At 31 December 2023 3,011,354    3,011,354 
Depreciation
At 01 January 2023  
Charge for year  
On disposals  
At 31 December 2023  
Net book values
Closing balance as at 31 December 2023 3,011,354    3,011,354 
Opening balance as at 01 January 2023 3,011,354    3,011,354 


4.

Creditors: amount falling due within one year

2023
£
  2022
£
Corporation Tax 6,254    6,410 
Accrued Expenses 4,895    2,543 
Other Creditors 3,284    3,121 
Directors' Current Accounts 57,650    52,910 
72,083    64,984 

5.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 1,823,755    1,781,032 
Directors' Loan Accounts 393,089    375,000 
2,216,844    2,156,032 

6.

Share Capital

Authorised
102 Class A shares of £1.00 each
Allotted, called up and fully paid
2023
£
  2022
£
102 Class A shares of £1.00 each 102    102 
102    102 

7.

Share premium account

2023
£
  2022
£
Equity Share Premium b/fwd 777,012    777,012 
777,012    777,012 

8.

Director’s loan

Director's Loan Account more than 1 year

During 2021, the company received unsecured loans from the three directors amounting to £375,000. The directors have all agreed that the loan will be interest free.
2