REGISTERED NUMBER: |
KALLAR INVESTMENTS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
REGISTERED NUMBER: |
KALLAR INVESTMENTS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
KALLAR INVESTMENTS LIMITED (REGISTERED NUMBER: 04843376) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
KALLAR INVESTMENTS LIMITED (REGISTERED NUMBER: 04843376) |
BALANCE SHEET |
31 JULY 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 11 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
KALLAR INVESTMENTS LIMITED (REGISTERED NUMBER: 04843376) |
BALANCE SHEET - continued |
31 JULY 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
KALLAR INVESTMENTS LIMITED (REGISTERED NUMBER: 04843376) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
1. | STATUTORY INFORMATION |
Kallar Investments Limited is a |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Kallar Investments Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Critical accounting judgements and key sources of estimation uncertainty |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
In respect of long term contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long term contracts and contracts for on-going services is recognised by reference to the stage of completion. |
Tangible fixed assets |
Freehold property | - |
Plant and machinery | - |
Fixtures and fittings | - |
KALLAR INVESTMENTS LIMITED (REGISTERED NUMBER: 04843376) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2024 |
2. | ACCOUNTING POLICIES - continued |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Work in progress and stock |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Stock is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of stock. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Operating lease agreements |
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease. |
Financial instruments |
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account. |
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
KALLAR INVESTMENTS LIMITED (REGISTERED NUMBER: 04843376) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings | Totals |
£ | £ | £ | £ |
COST |
At 1 August 2023 |
and 31 July 2024 |
DEPRECIATION |
At 1 August 2023 |
Charge for year |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertaking |
£ |
COST |
At 1 August 2023 |
and 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 August 2023 |
Additions |
Disposals | ( |
) |
Revaluations | (215,904 | ) |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
KALLAR INVESTMENTS LIMITED (REGISTERED NUMBER: 04843376) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2024 |
6. | INVESTMENT PROPERTY - continued |
Fair value at 31 July 2024 is represented by: |
£ |
Valuation in 2013 | 2,237,496 |
Valuation in 2014 | 110,000 |
Valuation in 2015 | 2,514,633 |
Valuation in 2016 | 1,750,000 |
Valuation in 2017 | 616,551 |
Valuation in 2018 | 1,004,735 |
Valuation in 2019 | 992,497 |
Valuation in 2020 | (134,785 | ) |
Valuation in 2022 | (700,656 | ) |
Valuation in 2024 | (215,904 | ) |
Cost | 9,238,601 |
17,413,168 |
If the investment properties had not been revalued they would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 9,238,601 | 8,933,965 |
The investment properties were valued on an open market basis on 31 July 2024 by the director . |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Other creditors |
KALLAR INVESTMENTS LIMITED (REGISTERED NUMBER: 04843376) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2024 |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
Bank loans due more than 5 years by instalments amount to £7,390,298 (2023: £10,165,386). |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
11. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 August 2023 |
Surplus on revaluation | (215,904 | ) |
Deferred tax adjustment | 3,926 |
At 31 July 2024 |
KALLAR INVESTMENTS LIMITED (REGISTERED NUMBER: 04843376) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2024 |
12. | RELATED PARTY DISCLOSURES |
Dividends were voted to the directors' this year totalling £1,961 (2023: £3,922). |
Broadway 267 Limited |
A company in which two directors each have a significant influence. |
Amounts due to related party at the balance sheet date is £136,267 (2023 - £250,267). |
No interest is payable on the loan and there are no agreed repayment terms. |
Broadway House 210-214 Ltd |
A company in which two directors each have a significant influence. |
Amounts due from related party at the balance sheet date is £3,413,500 (2023 - £4,667,500). |
No interest is payable on the loan and there are no agreed repayment terms. |
Kallarview Developments Ltd |
A company in which two directors each have a significant influence. |
Amounts due from related party at the balance sheet date is £1,317,063 (2023 - £1,317,063). |
No interest is payable on the loan and there are no agreed repayment terms. |
Lion 59 Limited |
A company in which two directors each have a significant influence. |
Amounts due from related party at the balance sheet date is £554,900 (2023 - £,554,900). |
No interest is payable on the loan and there are no agreed repayment terms. |
Hythe St Limited |
A company in which two directors each have a significant influence. |
Amounts due from related party at the balance sheet date is £1,939,154 (2023 - £1,939,154). |
No interest is payable on the loan and there are no agreed repayment terms. |
Durham 2023 Limited |
A company in which two directors each have a significant influence. |
Amounts due from related party at the balance sheet date is nil (2023 - £214,395). |
No interest is payable on the loan and there are no agreed repayment terms. |
Dunstans Road Limited |
A company in which one director has a significant influence. |
Amounts due from related party at the balance sheet date is £595,104 (2023 - £60,150). |
No interest is payable on the loan and there are no agreed repayment terms. |
KVC Midas Limited |
A company in which one director has a significant influence. |
Amounts due from related party at the balance sheet date is nil (2023 - £270,928). |
KALLAR INVESTMENTS LIMITED (REGISTERED NUMBER: 04843376) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2024 |
No interest is payable on the loan and there are no agreed repayment terms. |
Kallarview Holdings Limited |
A company in which one director has a significant influence. |
Amounts due from related party at the balance sheet date is £150 (2023 - £150). |
No interest is payable on the loan and there are no agreed repayment terms |
Kallarview Homes Limited |
A company in which one director has a significant influence. |
Amounts due to related party at the balance sheet date is £2,435,000 (2023 - £3,342,500). |
No interest is payable on the loan and there are no agreed repayment terms. |
Taylorview Limited |
A company in which one director has a significant influence. |
Amounts due to related party at the balance sheet date is £1,067,500 (2023 - £727,500). |
No interest is payable on the loan and there are no agreed repayment terms. |
Moor Park Estates Limited |
A company in which the directors are shareholders. |
Amounts due to related party at the balance sheet date is £750,500. |
No interest is payable on the loan and there are no agreed repayment terms. |
13. | ULTIMATE CONTROLLING PARTY |
In the Directors' opinion the company is majority controlled by Mr L Kallar. |