REGISTERED NUMBER: |
KAPITAL ESTATES LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2024 |
REGISTERED NUMBER: |
KAPITAL ESTATES LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2024 |
KAPITAL ESTATES LTD (REGISTERED NUMBER: 05620797) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 7 |
KAPITAL ESTATES LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH JUNE 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants & Registered Auditors |
16 Lambourne Crescent |
Cardiff Business Park |
Llanishen |
Cardiff |
CF14 5GF |
KAPITAL ESTATES LTD (REGISTERED NUMBER: 05620797) |
BALANCE SHEET |
30TH JUNE 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 11 | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
KAPITAL ESTATES LTD (REGISTERED NUMBER: 05620797) |
BALANCE SHEET - continued |
30TH JUNE 2024 |
The financial statements were approved by the director and authorised for issue on |
KAPITAL ESTATES LTD (REGISTERED NUMBER: 05620797) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2024 |
1. | STATUTORY INFORMATION |
Kapital Estates Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery etc | - |
Investments in subsidiaries |
Investment in subsidiaries is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Investment property |
Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Subsidiary companies |
The company owns the total issued share capital of 47 BP Ltd. The company is formed to handle the renovation and sale of individual properties, with all transaction being dealt with by Kapital Estates Limited under declarations of trust. Therefore no group accounts have been prepared, and exemption from the disclosure of related party transactions has been selected. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
KAPITAL ESTATES LTD (REGISTERED NUMBER: 05620797) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1st July 2023 |
and 30th June 2024 |
DEPRECIATION |
At 1st July 2023 |
Charge for year |
At 30th June 2024 |
NET BOOK VALUE |
At 30th June 2024 |
At 30th June 2023 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1st July 2023 |
Disposals | ( |
) |
At 30th June 2024 |
NET BOOK VALUE |
At 30th June 2024 |
At 30th June 2023 |
6. | INVESTMENT PROPERTY |
Investment properties includes expenditure to date on properties which are scheduled for renovation and then sale. |
All costs associated with the properties are capitalised, including interest charged on the loans used to fund the purchase and development. |
From August 2018 to the date of these financial statements an investment property was made available to rent There is no change of use, this is to cover costs. Interest charged on the loans for this period has been charged to profit and loss. |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
KAPITAL ESTATES LTD (REGISTERED NUMBER: 05620797) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2024 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Other creditors |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Other loans |
Borrowings from lenders, other financial institutions, and related entities are secured on the investment properties. |
11. | PROVISIONS FOR LIABILITIES |
2023 |
£ |
Deferred tax | 120 |
Deferred |
tax |
£ |
Balance at 1st July 2023 |
Provided during year | ( |
) |
Balance at 30th June 2024 | ( |
) |
KAPITAL ESTATES LTD (REGISTERED NUMBER: 05620797) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2024 |
12. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 30th June 2024 and 30th June 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
Included in the amount repaid is a dividend paid to the director of £nil. (2023 £nil). |
The total amount of dividend paid to the shareholders is £nil. [2023 £nil]. |
13. | RELATED PARTY DISCLOSURES |
Included in debtors is an amount of £9,044 (2023 £9,532) owed by 74 EP Freehold Ltd and an amount of £19,119 (2023 £25,859) owed by Cat Dal Interiors Ltd . Mr T Dal is a director of 74 EP Freehold Ltd and was a director of Cat Dal Interiors Ltd until 27 January 2022. |
Included in creditors is an amount of £425 (2023 £30,777)owed to 74C EP Ltd. Mr T Dal is a director of 74C EP Ltd. |
14. | ULTIMATE CONTROLLING PARTY |
The controlling party is T. Dal. |