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KASSEM PROPERTIES LTD

Registered Number
12227569
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2024

KASSEM PROPERTIES LTD
Company Information
for the year from 1 October 2023 to 30 September 2024

Director

KASSEM, Ahmad Hossam, Dr

Registered Address

25 Frank Large Walk
Northampton
NN5 4UP

Registered Number

12227569 (England and Wales)
KASSEM PROPERTIES LTD
Balance Sheet as at
30 September 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3345867
Investment property4917,000688,000
917,345688,867
Current assets
Debtors210890
Cash at bank and on hand5,49358,167
5,70359,057
Creditors amounts falling due within one year5(740,613)(607,731)
Net current assets (liabilities)(734,910)(548,674)
Total assets less current liabilities182,435140,193
Provisions for liabilities6(31,279)(25,490)
Net assets151,156114,703
Capital and reserves
Called up share capital125125
Other reserves164,278133,284
Profit and loss account(13,247)(18,706)
Shareholders' funds151,156114,703
The financial statements were approved and authorised for issue by the Director on 8 January 2025, and are signed on its behalf by:
KASSEM, Ahmad Hossam, Dr
Director
Registered Company No. 12227569
KASSEM PROPERTIES LTD
Notes to the Financial Statements
for the year ended 30 September 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Investment property
Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 October 233901,3441,734
At 30 September 243901,3441,734
Depreciation and impairment
At 01 October 23316551867
Charge for year74448522
At 30 September 243909991,389
Net book value
At 30 September 24-345345
At 30 September 2374793867
4.Investment property

£
Fair value at 01 October 23688,000
Additions198,006
Fair value adjustments30,994
At 30 September 24917,000
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-2,160
Bank borrowings and overdrafts540,982395,275
Taxation and social security2,761-
Other creditors195,070208,736
Accrued liabilities and deferred income1,8001,560
Total740,613607,731
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)31,27925,490
Total31,27925,490