REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 September 2024 |
for |
KMP (East Dulwich) Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 September 2024 |
for |
KMP (East Dulwich) Ltd |
KMP (East Dulwich) Ltd (Registered number: 11532839) |
Contents of the Financial Statements |
for the Year Ended 30 September 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
KMP (East Dulwich) Ltd |
Company Information |
for the Year Ended 30 September 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants & Statutory Auditors |
144-146 Kings Cross Road |
London |
WC1X 9DU |
KMP (East Dulwich) Ltd (Registered number: 11532839) |
Statement of Financial Position |
30 September 2024 |
30.9.24 | 30.9.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDER FUNDS |
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. |
KMP (East Dulwich) Ltd (Registered number: 11532839) |
Statement of Financial Position - continued |
30 September 2024 |
The financial statements were authorised for issue by the Board of Directors and authorised for issue on |
KMP (East Dulwich) Ltd (Registered number: 11532839) |
Notes to the Financial Statements |
for the Year Ended 30 September 2024 |
1. | STATUTORY INFORMATION |
KMP (East Dulwich) Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going Concern |
The financial statements have been prepared on a going concern basis, notwithstanding the fact that there is a net current deficit of £2,881,870 (2023: £2,820,471) on the balance sheet. The directors, having made adequate enquiries, are satisfied that the company will continue to receive necessary support from its shareholders to maintain the company as a going concern. Therefore, the directors are of the opinion that it is appropriate to adopt the going concern basis in preparing the financial statements for the year ended. The financial statements do not reflect the adjustments that would be required if the company was not a going concern.. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover represents amounts receivable for rent and services. Rent is recognised for the period for which it is due. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
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. |
Financial instruments |
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument. |
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management. |
KMP (East Dulwich) Ltd (Registered number: 11532839) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and |
machinery | fittings | Totals |
£ | £ | £ |
COST |
At 1 October 2023 |
Additions |
At 30 September 2024 |
DEPRECIATION |
At 1 October 2023 |
Charge for year |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 30 September 2023 |
KMP (East Dulwich) Ltd (Registered number: 11532839) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2024 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 October 2023 |
Additions |
Revaluations | 41,922 |
Reclassification/transfer | (84,792 | ) |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 30 September 2023 |
Fair value at 30 September 2024 is represented by: |
£ |
Valuation in 2022 | 1,318,298 |
Valuation in 2024 | 41,921 |
Cost | 5,599,781 |
6,960,000 |
If investment properties had not been revalued they would have been included at the following historical cost: |
30.9.24 | 30.9.23 |
£ | £ |
Cost | 5,599,781 | 5,631,702 |
Investment properties were valued on an open market basis on 13 September 2024 by Cushman & Wakefield . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.24 | 30.9.23 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.24 | 30.9.23 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.9.24 | 30.9.23 |
£ | £ |
Bank loans (see note 9) |
KMP (East Dulwich) Ltd (Registered number: 11532839) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2024 |
9. | LOANS |
An analysis of the maturity of loans is given below: |
30.9.24 | 30.9.23 |
£ | £ |
Amounts falling due between two and five years: |
Bank Loans 5yrs Non-Instlmnt | 3,275,000 | 3,275,000 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.9.24 | 30.9.23 |
£ | £ |
Bank loans |
The bank loans are secured by way of fixed and floating charge over all the property or undertaking of the company. |
11. | PROVISIONS FOR LIABILITIES |
30.9.24 | 30.9.23 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
Deferred tax on propert revltn | 340,055 | 329,574 |
354,334 | 333,530 |
Deferred |
tax |
£ |
Balance at 1 October 2023 |
Provided during year |
Balance at 30 September 2024 |
12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
As at the balance sheet date the company owed £NIL (2023: £1,430) to Mr. B. Patel, a company director. |
13. | RELATED PARTY DISCLOSURES |
Included in other creditors is an amount of £298,415 (2023: £295,257) owed by the company to KMP Propfin Ltd, a related party company. |
Also included in other creditors is an amount of £17,051 (2023: £9,139) owed by the company to KMP & Sons, a related party entity. |
As at the balance sheet date the company owed £2,572,564 (2023: £2,572,564) to it's shareholders. |
Included in related party debtors are the amounts of £7,110 (2023: £7,110) and £7,110 (202: £7,110) owed to the company by KMP (Forest Gate) Ltd and KMP (Surray Quays) Ltd respectively. Both these companies are related part entities. |
KMP (East Dulwich) Ltd (Registered number: 11532839) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2024 |
14. | ULTIMATE CONTROLLING PARTY |
There is no ultimate controlling party. |