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REGISTERED NUMBER: 03983094 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

KIRMELL PROPERTIES LIMITED

KIRMELL PROPERTIES LIMITED (REGISTERED NUMBER: 03983094)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Statement of Financial Position 1

Notes to the Financial Statements 3


KIRMELL PROPERTIES LIMITED (REGISTERED NUMBER: 03983094)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,420,000 3,787,285

CURRENT ASSETS
Debtors 5 8,897 695
Cash at bank 18,411 68,430
27,308 69,125
CREDITORS
Amounts falling due within one year 6 436,353 1,643,011
NET CURRENT LIABILITIES (409,045 ) (1,573,886 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,010,955

2,213,399

PROVISIONS FOR LIABILITIES - 63,024
NET ASSETS 2,010,955 2,150,375

CAPITAL AND RESERVES
Called up share capital 384,002 384,002
Other reserves 341,097 655,416
Retained earnings 1,285,856 1,110,957
2,010,955 2,150,375

KIRMELL PROPERTIES LIMITED (REGISTERED NUMBER: 03983094)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024


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

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

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 December 2024 and were signed on its behalf by:





A Riaz - Director


KIRMELL PROPERTIES LIMITED (REGISTERED NUMBER: 03983094)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Kirmell Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03983094

Registered office: Kirmell Works
Eyre Street
Birmingham
West Midlands
B18 7AA

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 as modified by the revaluation of certain assets.

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

Rental income receivable is recognised on a straight line basis over the term of the lease.

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
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.

Short term debtors are measured at the transaction price, less any impairment.

Short term creditors are measured at the transaction price.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

KIRMELL PROPERTIES LIMITED (REGISTERED NUMBER: 03983094)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 3,787,285
Disposals (1,197,285 )
Revaluations (170,000 )
At 31 March 2024 2,420,000
NET BOOK VALUE
At 31 March 2024 2,420,000
At 31 March 2023 3,787,285

The 2024 valuations were made by the Directors, on an open market value for existing use basis.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 8,897 695

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 257 2,979
Amounts owed to group undertakings 333,783 1,470,948
Taxation and social security 30,097 19,009
Other creditors 72,216 150,075
436,353 1,643,011

7. CONTROLLING PARTY

At the year end the Company was a wholly owned subsidiary of Kirmell Property Holdings Limited. The address of the parent company is Kirmell Works, Eyre Street, Birmingham, B18 7AA.

The ultimate controlling party is the directors who, with their family interest, own 100% of the share capital of the Company's parent company.