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REGISTERED NUMBER: 08597396 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 July 2024

for

KRM PROPERTY MANAGEMENT LTD

KRM PROPERTY MANAGEMENT LTD (REGISTERED NUMBER: 08597396)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

KRM PROPERTY MANAGEMENT LTD

Company Information
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: R M Mcflynn
Mrs K R Mcflynn





SECRETARY:





REGISTERED OFFICE: Windrush
31 Ashford Close
Croesyceilog
Cwmbran
NP44 2AY





REGISTERED NUMBER: 08597396 (England and Wales)





ACCOUNTANTS: Hayvenhursts
Fairway House
Links Business Park
St Mellons
Cardiff
CF3 0LT

KRM PROPERTY MANAGEMENT LTD (REGISTERED NUMBER: 08597396)

Balance Sheet
31 JULY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 25,000 25,000
Tangible assets 5 52,521 44,428
77,521 69,428

CURRENT ASSETS
Stocks 38,400 11,000
Debtors 6 7,560 30,040
45,960 41,040
CREDITORS
Amounts falling due within one year 7 (239,719 ) (224,124 )
NET CURRENT LIABILITIES (193,759 ) (183,084 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(116,238

)

(113,656

)

CREDITORS
Amounts falling due after more than
one year

8

(34,171

)

(37,771

)
NET LIABILITIES (150,409 ) (151,427 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (150,411 ) (151,429 )
SHAREHOLDERS' FUNDS (150,409 ) (151,427 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

KRM PROPERTY MANAGEMENT LTD (REGISTERED NUMBER: 08597396)

Balance Sheet - continued
31 JULY 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 27 January 2025 and were signed on its behalf by:




R M Mcflynn - Director



Mrs K R Mcflynn - Director


KRM PROPERTY MANAGEMENT LTD (REGISTERED NUMBER: 08597396)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

KRM Property Management Ltd 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.

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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


KRM PROPERTY MANAGEMENT LTD (REGISTERED NUMBER: 08597396)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 25,000
NET BOOK VALUE
At 31 July 2024 25,000
At 31 July 2023 25,000

KRM PROPERTY MANAGEMENT LTD (REGISTERED NUMBER: 08597396)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023 80,890
Additions 17,573
At 31 July 2024 98,463
DEPRECIATION
At 1 August 2023 36,462
Charge for year 9,480
At 31 July 2024 45,942
NET BOOK VALUE
At 31 July 2024 52,521
At 31 July 2023 44,428

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 150 150
Due from associate co. 7,410 28,160
VAT - 1,730
7,560 30,040

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 17,004 19,406
Hire purchase contracts and finance leases 4,724 4,724
Trade creditors 1 -
VAT 1,432 -
Directors' current accounts 216,558 199,994
239,719 224,124

KRM PROPERTY MANAGEMENT LTD (REGISTERED NUMBER: 08597396)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans - 2-5 years 22,566 26,166
Hire purchase contracts and finance leases 11,605 11,605
34,171 37,771

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
KRM Property Management Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of KRM Property Management Ltd for the year ended 31 July 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of KRM Property Management Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of KRM Property Management Ltd and state those matters that we have agreed to state to the Board of Directors of KRM Property Management Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than KRM Property Management Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that KRM Property Management Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of KRM Property Management Ltd. You consider that KRM Property Management Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of KRM Property Management Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Hayvenhursts
Fairway House
Links Business Park
St Mellons
Cardiff
CF3 0LT


27 January 2025