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REGISTERED NUMBER: 09839599 (England and Wales)















Financial Statements for the Year Ended 29 February 2024

for

Kanabar Properties Limited

Kanabar Properties Limited (Registered number: 09839599)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Kanabar Properties Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: S P Kanabar
Ms S Kanabar





REGISTERED OFFICE: 7 Marlborough Avenue
London
London
N14 7LE





REGISTERED NUMBER: 09839599 (England and Wales)





ACCOUNTANTS: Cobham Murphy
116 Duke Street
Liverpool
Merseyside
L1 5JW

Kanabar Properties Limited (Registered number: 09839599)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 206
Investment property 5 1,230,000 1,230,000
1,230,000 1,230,206

CURRENT ASSETS
Debtors 6 - 900
Cash at bank and in hand 5,715 1,492
5,715 2,392
CREDITORS
Amounts falling due within one year 7 334,740 320,779
NET CURRENT LIABILITIES (329,025 ) (318,387 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

900,975

911,819

CREDITORS
Amounts falling due after more than one
year

8

(935,358

)

(939,514

)

PROVISIONS FOR LIABILITIES (3,183 ) (8,471 )
NET LIABILITIES (37,566 ) (36,166 )

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings (37,576 ) (36,176 )
SHAREHOLDERS' FUNDS (37,566 ) (36,166 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

Kanabar Properties Limited (Registered number: 09839599)

Balance Sheet - continued
29 February 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 29 November 2024 and were signed on its behalf by:





S P Kanabar - Director


Kanabar Properties Limited (Registered number: 09839599)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Kanabar Properties 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. 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.

Despite the current liability position the accounts have been prepared on a going concern basis due to the continued support from the director.

Significant judgements and estimates
There are no judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements.

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

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.

Financial instruments
Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

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 balance sheet date.


Kanabar Properties Limited (Registered number: 09839599)

Notes to the Financial Statements - continued
for the Year Ended 29 February 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
At 1 March 2023
and 29 February 2024 2,771
DEPRECIATION
At 1 March 2023 2,565
Charge for year 206
At 29 February 2024 2,771
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 206

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 29 February 2024 1,230,000
NET BOOK VALUE
At 29 February 2024 1,230,000
At 28 February 2023 1,230,000


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other debtors - 900

Kanabar Properties Limited (Registered number: 09839599)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other creditors 334,740 320,779

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans 930,164 930,164
Other creditors 5,194 9,350
935,358 939,514

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 930,164 930,164

9. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Bank loans 930,164 930,164

10. RELATED PARTY DISCLOSURES

Included in other creditors at 28th February 2024 is £178,933 owed to related parties. The loans were interest free and repayable on demand.