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REGISTERED NUMBER: 11987952 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st May 2024

for

Kissman Properties Ltd

Kissman Properties Ltd (Registered number: 11987952)






Contents of the Financial Statements
for the Year Ended 31st May 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Kissman Properties Ltd (Registered number: 11987952)

Balance Sheet
31st May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 287,500 328,000

CURRENT ASSETS
Cash at bank 79 4,404

CREDITORS
Amounts falling due within one year 5 105,622 103,601
NET CURRENT LIABILITIES (105,543 ) (99,197 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

181,957

228,803

CREDITORS
Amounts falling due after more than one year 6 155,099 157,421
NET ASSETS 26,858 71,382

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 26,758 71,282
SHAREHOLDERS' FUNDS 26,858 71,382

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2024 in accordance with Section 476 of the Companies Act 2006.

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.

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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 23rd February 2025 and were signed by:





K Solanki - Director


Kissman Properties Ltd (Registered number: 11987952)

Notes to the Financial Statements
for the Year Ended 31st May 2024

1. COMPANY INFORMATION

Kissman Properties Ltd 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: 11987952

Registered office: 7 Wolsey Drive
Bowdon
Altrincham
Greater Manchester
WA14 3QU

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 as modified by the revaluation of certain assets.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

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

Rental income from investment property leased out under operating leases is recognised on a straight-line basis over the term of the lease. Rent incentives granted by the company to its tenants are recognised as an integral part of the total rental income. The rent incentives are included in investment property.

Incentives to enter into rental agreements are spread evenly over the rental term, even if the payments are not made on such a basis. The rental term is the non-cancellable period of the rental agreement, together with any further term for which the tenant has the option to continue the rental agreement, when, at the inception of the rental agreement it is reasonably certain that the tenant will exercise this option.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Kissman Properties Ltd (Registered number: 11987952)

Notes to the Financial Statements - continued
for the Year Ended 31st May 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 - 1 ).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st June 2023 328,000
Impairments (40,500 )
At 31st May 2024 287,500
NET BOOK VALUE
At 31st May 2024 287,500
At 31st May 2023 328,000

Fair value at 31st May 2024 is represented by:
£   
Valuation in 2022 55,950
Valuation in 2023 6,000
Valuation in 2024 (40,500 )
Cost 266,050
287,500

If the investment property had not been revalued it would have been included at the following historical cost:

31.5.24 31.5.23
£    £   
Cost 266,050 266,050

Investment property was valued on an open market basis basis on 31st May 2024 by the Director. .

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 3,542 3,542
Trade creditors 1 -
Tax - 1,480
Directors' current accounts 101,059 97,559
Accrued expenses 1,020 1,020
105,622 103,601

Kissman Properties Ltd (Registered number: 11987952)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2024

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans more 5 yr by instal 155,099 157,421

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 155,099 157,421

7. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank loans 158,641 160,963

The long-term loans are secured by a mortgage debenture over the investment property.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
100 Ordinary 1 100 100

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st May 2024 and 31st May 2023:

31.5.24 31.5.23
£    £   
K Solanki
Balance outstanding at start of year (97,559 ) (97,559 )
Amounts repaid (3,500 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (101,059 ) (97,559 )

10. ULTIMATE CONTROLLING PARTY

The controlling party is K Solanki.