Registered number
05840252
KALPOL LIMITED
Filleted Accounts
30 June 2024
KALPOL LIMITED
Registered number: 05840252
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 6,909 9,213
Investment property 4 499,503 499,503
506,412 508,716
Current assets
Cash at bank and in hand 3,535 1,627
Creditors: amounts falling due within one year 5 (53,917) (33,348)
Net current liabilities (50,382) (31,721)
Total assets less current liabilities 456,030 476,995
Creditors: amounts falling due after more than one year 6 (364,312) (369,699)
Net assets 91,718 107,296
Capital and reserves
Called up share capital 100 100
Profit and loss account 91,618 107,196
Shareholders' funds 91,718 107,296
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr P Mistry
Director
Approved by the board on 18 March 2025
KALPOL LIMITED
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover includes revenue earned from rent receivable from real estate. Turnover is recognised by reference to the stage of completion of the tenancy contract. The stage of completion of a contract is measured by comparing the costs incurred in providing premises and other facilities to date with the total contracted rent receivable.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant & machinery 25% on reducing balance
Fixtures and fittings 25% on reducing balance
Computer equipment 25% on reducing balance
Investment property
Investment properties are shown at most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to fair value reserve.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Furniture and equipment Plant and machinery Total
£ £ £
Cost
At 1 July 2023 21,490 7,680 29,170
At 30 June 2024 21,490 7,680 29,170
Depreciation
At 1 July 2023 12,888 7,069 19,957
Charge for the year 2,151 153 2,304
At 30 June 2024 15,039 7,222 22,261
Net book value
At 30 June 2024 6,451 458 6,909
At 30 June 2023 8,602 611 9,213
4 Investment property Total
£
Fair value
At 1 July 2023 499,503
Additions -
Revaluations -
Disposals -
At 30 June 2024 499,503
Net book value
At 30 June 2024 499,503
At 30 June 2023 499,503
The properties have been valued at the balance sheet date by the directors, who believe the carrying values to be their fair values. There has been no valuation of investment property by an independent valuer.
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 6,756 5,340
Director's loan account 46,381 25,608
Accrued expenses 780 2,400
53,917 33,348
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 30,847 34,993
Mortgage 333,465 334,706
364,312 369,699
The bank loan was received under the Government-Backed 'Bounce Back Loan' scheme. The loan is repayable by equal instalments with an interest rate of 2.5%. There are no penalties on early redemption.
The mortgage is on interest only basis and secured against the investment property.
7 Loans 2024 2023
£ £
Creditors include:
Secured loans 333,465 334,706
8 Controlling party
The company is controlled by Mr P Mistry and Mrs K Mistry. Their control comes by virtue of their directorships, shareholdings and day to day running of the business.
9 Other information
KALPOL LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
57 Lime Tree Avenue
Bilton
Rugby
CV22 7QT
KALPOL LIMITED 05840252 false 2023-07-01 2024-06-30 2024-06-30 VT Final Accounts July 2024 Mr P Mistry No description of principal activity 05840252 2022-07-01 2023-06-30 05840252 core:WithinOneYear 2023-06-30 05840252 core:AfterOneYear 2023-06-30 05840252 core:ShareCapital 2023-06-30 05840252 core:RetainedEarningsAccumulatedLosses 2023-06-30 05840252 2023-07-01 2024-06-30 05840252 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 05840252 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 05840252 bus:Director40 2023-07-01 2024-06-30 05840252 1 2023-07-01 2024-06-30 05840252 2 2023-07-01 2024-06-30 05840252 core:PlantMachinery 2023-07-01 2024-06-30 05840252 core:Vehicles 2023-07-01 2024-06-30 05840252 countries:England 2023-07-01 2024-06-30 05840252 bus:FRS102 2023-07-01 2024-06-30 05840252 bus:FilletedAccounts 2023-07-01 2024-06-30 05840252 2024-06-30 05840252 core:WithinOneYear 2024-06-30 05840252 core:AfterOneYear 2024-06-30 05840252 core:ShareCapital 2024-06-30 05840252 core:RetainedEarningsAccumulatedLosses 2024-06-30 05840252 core:PlantMachinery 2024-06-30 05840252 core:Vehicles 2024-06-30 05840252 2023-06-30 05840252 core:PlantMachinery 2023-06-30 05840252 core:Vehicles 2023-06-30 iso4217:GBP xbrli:pure