Registered number
15466137
KMN HOMES AND LETTINGS LIMITED
Filleted Accounts
28 February 2025
KMN HOMES AND LETTINGS LIMITED
Registered number: 15466137
Balance Sheet
as at 28 February 2025
Notes 2025
£
Fixed assets
Tangible assets 3 906,632
Current assets
Debtors 4 1,735
Cash at bank and in hand 689
2,424
Creditors: amounts falling due within one year 5 (287,285)
Net current liabilities (284,861)
Total assets less current liabilities 621,771
Creditors: amounts falling due after more than one year 6 (621,365)
Net assets 406
Capital and reserves
Called up share capital 300
Profit and loss account 106
Shareholder's funds 406
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr N Georgiev
Director
Approved by the board on 23 April 2025
KMN HOMES AND LETTINGS LIMITED
Notes to the Accounts
for the period from 4 February 2024 to 28 February 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Residential buildings at market value
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2025
Number
Average number of persons employed by the company 0
3 Tangible fixed assets
Land and buildings
£
Cost
Additions 906,632
At 28 February 2025 906,632
Depreciation
At 28 February 2025 -
Net book value
At 28 February 2025 906,632
4 Debtors 2025
£
Other debtors 1,735
5 Creditors: amounts falling due within one year 2025
£
Taxation and social security costs 25
Other creditors 287,260
287,285
6 Creditors: amounts falling due after one year 2025
£
Bank loans 621,365
7 Loans 2025
£
Creditors include:
Secured bank loans 621,365
The Mortgage Works (UK) PLC has two charges over the properties owned by the company. (Charge code 1546 6137 0001 and 1546 6137 0002)
8 Related party transactions
Mr N Georgiev, director and shareholder, has lent the company funds on an interest free basis. Due to Mr N Georgiev is £285,940
9 Controlling party
The company is controlled by is director and only shareholder, Mr N Georgiev.
10 Other information
KMN HOMES AND LETTINGS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
23 Durham Road
Dagenham
Essex
RM10 8AN
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