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REGISTERED NUMBER: 01092376 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 FEBRUARY 2023 TO 31 MARCH 2024

FOR

K.S. CAR ELECTRICS LIMITED

K.S. CAR ELECTRICS LIMITED (REGISTERED NUMBER: 01092376)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 FEBRUARY 2023 TO 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


K.S. CAR ELECTRICS LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 FEBRUARY 2023 TO 31 MARCH 2024







DIRECTORS: Mrs Helen Kyriacos Georghiou
Mrs Maroulla Sandamas
Dr George Sandamas
Mr Christopher Sandamas
Mr Nicholas Sandamas





REGISTERED OFFICE: c/o Michael Filiou Ltd
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS





REGISTERED NUMBER: 01092376 (England and Wales)





ACCOUNTANTS: Michael Filiou Ltd
Chartered Certified Accountants
www.michaelfiliou.com
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS

K.S. CAR ELECTRICS LIMITED (REGISTERED NUMBER: 01092376)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,030 1,018
Investments 6 3,000 -
Investment property 7 - 102,439
4,030 103,457

CURRENT ASSETS
Debtors 8 1,536 1,054
Cash at bank 869,954 940,616
871,490 941,670
CREDITORS
Amounts falling due within one year 9 11,298 42,035
NET CURRENT ASSETS 860,192 899,635
TOTAL ASSETS LESS CURRENT
LIABILITIES

864,222

1,003,092

CAPITAL AND RESERVES
Called up share capital 10 350 350
Retained earnings 863,872 1,002,742
SHAREHOLDERS' FUNDS 864,222 1,003,092

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

The members have not required the company to obtain an audit of its financial statements for the period 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.

K.S. CAR ELECTRICS LIMITED (REGISTERED NUMBER: 01092376)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 November 2024 and were signed on its behalf by:





Mrs Maroulla Sandamas - Director


K.S. CAR ELECTRICS LIMITED (REGISTERED NUMBER: 01092376)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 FEBRUARY 2023 TO 31 MARCH 2024


1. STATUTORY INFORMATION

K.S. Car Electrics 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about K.S. Car Electrics Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents the value of rental income chargeable in respect of the company's investment properties. Turnover is recognised evenly over the period of the rental agreement.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% straight line

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.


K.S. CAR ELECTRICS LIMITED (REGISTERED NUMBER: 01092376)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 FEBRUARY 2023 TO 31 MARCH 2024


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period 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 balance sheet date.

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 period 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2023 - 2 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 February 2023 28,283 - 28,283
Additions - 400 400
At 31 March 2024 28,283 400 28,683
DEPRECIATION
At 1 February 2023 27,265 - 27,265
Charge for period 255 133 388
At 31 March 2024 27,520 133 27,653
NET BOOK VALUE
At 31 March 2024 763 267 1,030
At 31 January 2023 1,018 - 1,018

K.S. CAR ELECTRICS LIMITED (REGISTERED NUMBER: 01092376)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 FEBRUARY 2023 TO 31 MARCH 2024


6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 3,000
At 31 March 2024 3,000
NET BOOK VALUE
At 31 March 2024 3,000

The company's investments at the Balance Sheet date in the share capital of companies include the following:

GMAKS Enterprise Ltd
Registered office: Salisbury House, 81 High Street, Potters Bar, Hertfordshire EN6 5AS
Nature of business: Property investment
%
Class of shares: holding
Ordinary 100.00

Cadenza Holdings Ltd
Registered office: Salisbury House, 81 High Street, Potters Bar, Hertfordshire EN6 5AS
Nature of business: Property investment
%
Class of shares: holding
Ordinary 100.00

NCKG Ltd
Registered office: Salisbury House, 81 High Street, Potters Bar, Hertfordshire EN6 5AS
Nature of business: Property investment
%
Class of shares: holding
Ordinary 100.00

K.S. CAR ELECTRICS LIMITED (REGISTERED NUMBER: 01092376)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 FEBRUARY 2023 TO 31 MARCH 2024


7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 102,439
Additions 5,098
Disposals (3,685,000 )
Revaluations 3,577,463
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 January 2023 102,439

In March 2023, the company sold all of its investment properties to its wholly owned subsidiaries at their market values totalling £3,685,000. The loans owed to the company of £3,685,000 that this sale created were waived and fully written off in the books of the company and its three wholly owned subsidiaries, GMAKS Enterprises Ltd, Cadenza Holdings Ltd and NCKG Ltd at £1,070,000, £1,115,000 and £1,500,000 respectively.

Fair value at 31 March 2024 is represented by:
£   

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1 -
Amounts owed by group undertakings 1,535 -
Prepayments - 1,054
1,536 1,054

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation 5,763 21,471
Social security and other taxes - 42
Other creditors - 49
Directors' current accounts 1,535 13,600
Accrued expenses 4,000 6,873
11,298 42,035

K.S. CAR ELECTRICS LIMITED (REGISTERED NUMBER: 01092376)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 FEBRUARY 2023 TO 31 MARCH 2024


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
NIL Ordinary £1 - 100
(2023 - 100 )
NIL A Ordinary £1 - 100
(2023 - 100 )
NIL B Ordinary £1 - 150
(2023 - 150 )
75 A1 Ordinary £1 75 -
7 A2 Ordinary £1 7 -
78 B1 Ordinary £1 78 -
7 B2 Ordinary £1 7 -
105 C1 Ordinary £1 105 -
9 C2 Ordinary £1 9 -
69 D Ordinary £1 69 -
350 350

On 13 March 2023, all 100 Ordinary A shares of £1 each and 150 Ordinary B shares of £1 each were redesignated as Ordinary shares of £1 each.

Then, on 20 March 2023, all the 350 Ordinary shares of £1 each were redesignated as 75 A1 Ordinary shares of £1 each, 7 A2 Ordinary shares of £1 each, 78 B1 Ordinary shares of £1 each, 7 B2 Ordinary shares of £1 each, 105 C1 Ordinary shares of £1 each, 9 C2 Ordinary shares of £1 each and 69 D Ordinary shares of £1 each.

11. ULTIMATE CONTROLLING PARTY

There is no one single controlling party.