Registered number |
For the year ended |
KHMM LTD T/A KHMM |
Chartered Management Accountants |
Unit 7-8 Wing Yip Business Centre |
395 Edgware Road |
London |
NW2 6LN |
Tel: 0208 208 2085 |
Registered number: | |||||||
Balance Sheet | |||||||
as at |
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Notes | 2024 | 2023 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 3 | ||||||
Current assets | |||||||
Debtors | 4 | ||||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 5 | ( |
( |
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Net current assets | |||||||
Total assets less current liabilities | |||||||
Creditors: amounts falling due after more than one year | 6 | ( |
( |
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Provisions for liabilities | ( |
( |
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Net assets | |||||||
Capital and reserves | |||||||
Called up share capital | |||||||
Profit and loss account | 7 | ||||||
Shareholders' funds | |||||||
MR CHU TING TANG | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
The financial statements are prepared in sterling, which is the functional currency of the entity. |
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Turnover | ||||||||
Tangible fixed assets | ||||||||
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss. |
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Motor vehicle | 19% per annum on cost | |||||||
Investment Property | ||||||||
Financial instruments | ||||||||
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other operating expenses. All interest-bearing loans and borrowings which are basic financial instruments are initially recognised at the present value of cash payable to the bank (including interest). After initial recognition they are measured at amortised cost using the effective interest rate method, less impairment. The effective interest rate amortisation is included in finance revenue in the income statement. The company does not hold or issue derivative financial instruments for trading purpose. |
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Taxation | ||||||||
Finance leases and hire purchase contracts | ||||||||
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability |
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2 | Employees | 2024 | 2023 | |||||
Number | Number | |||||||
Average number of persons employed by the company | ||||||||
3 | Tangible fixed assets | |||||||
Land and buildings | Freehold improvement | Motor vehicles | Total | |||||
£ | £ | £ | £ | |||||
Cost | ||||||||
At 1 August 2023 | ||||||||
Additions | - | - | ||||||
Surplus on revaluation | - | - | ||||||
Disposals | - | - | ( |
( |
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At 31 July 2024 | ||||||||
Depreciation | ||||||||
At 1 August 2023 | - | - | ||||||
Charge for the year | - | - | ||||||
On disposals | - | - | ( |
( |
||||
At 31 July 2024 | - | - | ||||||
Net book value | ||||||||
At 31 July 2024 | ||||||||
At 31 July 2023 | ||||||||
Freehold land and buildings: | 2024 | 2023 | ||||||
£ | £ | |||||||
Historical cost | 7,000,000 | 7,000,000 | ||||||
Cumulative depreciation based on historical cost | - | - | ||||||
The director has revalued the freehold investment property during the reporting period based on the market value, and believed it is reasonable revalue the property to £10,250,000 with a £200,000 increase. | ||||||||
4 | Debtors | 2024 | 2023 | |||||
£ | £ | |||||||
Other debtors | ||||||||
5 | Creditors: amounts falling due within one year | 2024 | 2023 | |||||
£ | £ | |||||||
Obligations under finance lease and hire purchase contracts | ||||||||
Taxation and social security costs | ||||||||
Other creditors | ||||||||
6 | Creditors: amounts falling due after one year | 2024 | 2023 | |||||
£ | £ | |||||||
Bank loans | ||||||||
Obligations under finance lease and hire purchase contracts | ||||||||
7 | Profit and loss account | 2024 | 2023 | |||||
£ | £ | |||||||
Undistributable - reclassification from revaluation reserve | 3,250,000 | 3,050,000 | ||||||
Distributable Profit and loss | 4,864,974 | 4,894,872 | ||||||
8,114,974 | 7,944,872 | |||||||
8 | Events after the reporting date | |||||||
9 | Loans to directors | |||||||
Description and conditions | B/fwd | Paid | Repaid | C/fwd | ||||
£ | £ | £ | £ | |||||
[Loan] | ( |
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91,646 | 14,727 | (3,565) | 102,808 | |||||
10 | Related party transactions | |||||||
11 | Other information | |||||||
East & West Commercial Limited is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
8 Wing Yip Business Centre | ||||||||
395 Edgeware Road | ||||||||
London | ||||||||
NW2 6LN |