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COMPANY REGISTRATION NUMBER: 04333969
Kimberley Property Investments Limited
Filleted Unaudited Financial Statements
31 December 2024
Kimberley Property Investments Limited
Financial Statements
Year ended 31 December 2024
Contents
Page
Balance sheet
1
Notes to the financial statements
3
Kimberley Property Investments Limited
Balance Sheet
31 December 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
1,059
Investments
6
6,168,817
6,135,767
------------
------------
6,169,876
6,135,767
Current assets
Debtors
7
21,564
14,621
Cash at bank and in hand
238,979
168,714
---------
---------
260,543
183,335
Creditors: amounts falling due within one year
8
286,918
249,386
---------
---------
Net current liabilities
26,375
66,051
------------
------------
Total assets less current liabilities
6,143,501
6,069,716
Creditors: amounts falling due after more than one year
9
2,346,875
2,548,750
------------
------------
Net assets
3,796,626
3,520,966
------------
------------
Capital and reserves
Called up share capital
4,500
4,500
Profit and loss account
10
3,792,126
3,516,466
------------
------------
Shareholders funds
3,796,626
3,520,966
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Kimberley Property Investments Limited
Balance Sheet (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 9 May 2025 , and are signed on behalf of the board by:
Mr H H Shah
Director
Company registration number: 04333969
Kimberley Property Investments Limited
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Kimberley House, 31 Burnt Oak Broadway, Edgware, Greater London, HA8 5LD.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The rental income shown in the profit and loss account represents amounts receivable during the period exclusive of value added tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. 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.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
Straight line over 3 years
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits arising before or after the date of acquisition.
Investment properties are revalued annually to their fair value and any surplus or deficit is dealt through profit and loss. No depreciation is provided in respect of investment properties.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 January 2024
Additions
1,589
1,589
-------
-------
At 31 December 2024
1,589
1,589
-------
-------
Depreciation
At 1 January 2024
Charge for the year
530
530
-------
-------
At 31 December 2024
530
530
-------
-------
Carrying amount
At 31 December 2024
1,059
1,059
-------
-------
At 31 December 2023
-------
-------
6. Investments
Shares in participating interests
Loans to participating interests
Investment properties
Other investments
Total
£
£
£
£
£
Cost or valuation
At 1 January 2024
3,895
113,222
4,130,000
1,888,650
6,135,767
Additions
175,000
175,000
Disposals
( 3,613)
( 141,950)
(145,563)
Revaluations
3,613
3,613
-------
---------
------------
------------
------------
At 31 December 2024
3,895
113,222
4,130,000
1,921,700
6,168,817
-------
---------
------------
------------
------------
Impairment
At 1 January 2024 and 31 December 2024
-------
---------
------------
------------
------------
Carrying amount
At 31 December 2024
3,895
113,222
4,130,000
1,921,700
6,168,817
-------
---------
------------
------------
------------
At 31 December 2023
3,895
113,222
4,130,000
1,888,650
6,135,767
-------
---------
------------
------------
------------
The valuation of the company's investment properties was carried out at the reporting date by the directors on an open market basis. No depreciation is provided in respect of these properties
The comparable historical cost of investment properties stated at their fair value would be £4,365,900 (2023: £4,369,513).
At the reporting date, the company owned 50% of the issued share capital of Harlow Estates Limited, a company incorporated in England & Wales and whose principle activity is that of property investment. Included within other investments are non-current loans of £1,160,775.
7. Debtors
2024
2023
£
£
Trade debtors
8,444
14,621
Other debtors
13,120
--------
--------
21,564
14,621
--------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
112,500
112,500
Trade creditors
2,724
277
Corporation tax
45,355
5,428
Social security and other taxes
13,879
16,338
Other creditors
112,460
114,843
---------
---------
286,918
249,386
---------
---------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
831,875
1,453,750
Shareholders loan account
440,000
Other loan
1,075,000
1,095,000
------------
------------
2,346,875
2,548,750
------------
------------
Bank loans amounting to £929,375 (2023: £1,541,250) are secured by a first legal charge over some of the company's investment properties.
10. Profit and loss account
2024 2023
£ £
Distributable profits 4,028,026 3,755,979
Unrealised fair value loss on investment properties (235,900) (239,513)
------------ ------------
3,792,126 3,516,466
------------ ------------