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Registration number: 09076125

Kamiya Developments Limited
 

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 30 June 2024

 

Kamiya Developments Limited

(Registration number: 09076125)
Statement of Financial Position as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

4,947,955

4,948,543

Current assets

 

Debtors

5

8,002

8,912

Cash at bank and in hand

 

33,973

8,541

 

41,975

17,453

Creditors: Amounts falling due within one year

6

(3,103,542)

(3,584,256)

Net current liabilities

 

(3,061,567)

(3,566,803)

Total assets less current liabilities

 

1,886,388

1,381,740

Creditors: Amounts falling due after more than one year

6

(1,146,059)

(753,019)

Net assets

 

740,329

628,721

Capital and reserves

 

Called up share capital

400

400

Profit and loss account

739,929

628,321

Shareholders' funds

 

740,329

628,721

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 25 March 2025
 

.........................................
G J K Rana
Director

 

Kamiya Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: Knoll House, Knoll Road, Camberley, Surrey, GU15 3SY. England.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises rental income which is recognised on a straight-line basis over the period of the lease

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land, over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Land and buildings

Not depreciated

Trade debtors

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

 

Kamiya Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Financial instruments

The Company only enters into basic financial instruments 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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Kamiya Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Land and buildings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 July 2023

4,946,194

4,232

4,950,426

At 30 June 2024

4,946,194

4,232

4,950,426

Depreciation

At 1 July 2023

-

1,883

1,883

Charge for the year

-

588

588

At 30 June 2024

-

2,471

2,471

Carrying amount

At 30 June 2024

4,946,194

1,761

4,947,955

At 30 June 2023

4,946,194

2,349

4,948,543

5

Debtors

2024
£

2023
£

Trade debtors

4,422

3,364

Prepayments

3,580

5,548

8,002

8,912

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Bank loans and overdrafts

7

15,391

50,867

Taxation and social security

 

35,325

34,291

Accruals and deferred income

 

71,020

27,690

Other creditors

 

2,981,806

3,471,408

 

3,103,542

3,584,256


All bank loans are secured against the property they relate to.

 

Kamiya Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Loans and borrowings

7

1,146,059

753,019


 

2024
£

2023
£

After more than five years by instalments

1,052,408

501,639

-

-

All bank loans are secured against the property they relate to.

Repayable by installments

Creditors include bank loans repayable by instalments of £1,052,408 (2023: £501,639) due after more than five years.

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

1,146,059

753,019

Current loans and borrowings

2024
£

2023
£

Bank borrowings

15,391

50,867

Included in the loans and borrowings are the following amounts due after more than five years:

Bank loans and overdrafts after five years

Capital repayment loan totalling £1,161,450 incurring an average interest rate of 6.92% (2023: £803,886 incuring an average interest rate of 6.29%)

8

Related party transactions

At the year-end the company owed the shareholders £2,959,456 (2023: £3,448,358).