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REGISTERED NUMBER: 13952830


Financial Statements for the Year Ended 30 September 2024

for

KMP ( Streatham) Limited

KMP ( Streatham) Limited (Registered number: 13952830)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


KMP ( Streatham) Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Mr Kunal Mahesh Patel
Mr Viresh Mukesh Patel
Mr Niral Narendra Patel
Mr Vishal Narendra Patel





REGISTERED OFFICE: Third Floor
126-134 Baker Street
London
W1U 6UE





REGISTERED NUMBER: 13952830






KMP ( Streatham) Limited (Registered number: 13952830)

Statement of Financial Position
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 4,297,651 2,804,521

CURRENT ASSETS
Debtors 5 120 120
Cash at bank 29,242 2,284
29,362 2,404
CREDITORS
Amounts falling due within one year 6 4,618,569 2,933,904
NET CURRENT LIABILITIES (4,589,207 ) (2,931,500 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(291,556

)

(126,979

)

CAPITAL AND RESERVES
Called up share capital 9 120 120
Retained earnings 10 (291,676 ) (127,099 )
SHAREHOLDER FUNDS (291,556 ) (126,979 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 authorised for issue by the Board of Directors and authorised for issue on 2 April 2025 and were signed on its behalf by:





Mr Viresh Mukesh Patel - Director


KMP ( Streatham) Limited (Registered number: 13952830)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

KMP ( Streatham) Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

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.

Going Concern
The financial statements have been prepared on a going concern basis, notwithstanding the fact that there is a net current deficit of £4,589,207 (2023: £2,931,500) on the balance sheet. The Directors, having made appropriate enquiries, are satisfied that the company will receive continued support from the company's ultimate shareholders and the company will be able to meet its liabilities as they fall due for payment. Therefore, the directors are of the opinion that it is appropriate to adopt the going concern basis in preparing the financial statements. The financial statements do not include the adjustments that would result if the company was unable to continue as a going concern.

Investment property
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

KMP ( Streatham) Limited (Registered number: 13952830)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023 2,804,521
Additions 1,493,130
At 30 September 2024 4,297,651
NET BOOK VALUE
At 30 September 2024 4,297,651
At 30 September 2023 2,804,521

As at the balance sheet date the investment properties were still under development and in opinion of the directors the market value of the properties are not significantly different to their net book values.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Other debtors 120 120

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts (see note 7) 2,386,310 741,846
Trade creditors 1 -
Other creditors 2,230,000 2,190,000
Accrued expenses 2,258 2,058
4,618,569 2,933,904

7. LOANS

An analysis of the maturity of loans is given below:

30.9.24 30.9.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 2,386,310 741,846

KMP ( Streatham) Limited (Registered number: 13952830)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Bank loans 2,386,310 -

The above loan is advanced by Lloyds Bank Plc and is secured by way of fixed and floating charge covering all the property or undertaking of the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
120 Ordinary £1 120 120

10. RESERVES
Retained
earnings
£   

At 1 October 2023 (127,099 )
Deficit for the year (164,577 )
At 30 September 2024 (291,676 )

11. RELATED PARTY DISCLOSURES

As at balance sheet date, the company owed £2,230,000 (2023 : £2,190,000) to a related party entity.This loan amount is payable on demand.