KMD Property Investments Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

KMD Property Investments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09928155 . The registered office is 85 Bridge Street, Worksop, Nottinghamshire, S80 1DL.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings

25% on a reducing balance basis

2.4. Investment Properties

All Investment properties are measured at fair value determined annually and adjusted if necessary for any difference in the nature, location or condition of the specific asset. The fair value of property was obtained from an online property resource company and has not been based on a valuation by an independent valuer with a professional qualification.

2.5. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

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KMD Property Investments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2024

3. Average Number of Employees

Average number of employees, including directors, during the year was:

	31 October 2024	31 October 2023
Office and administration	2	2

	2	2

4. Tangible Assets

	Investment Properties	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 November 2023	738,933	35,668	774,601
Disposals	(115,002 )	-	(115,002 )

As at 31 October 2024	623,931	35,668	659,599

Depreciation
As at 1 November 2023	-	20,869	20,869
Provided during the period	-	3,693	3,693

As at 31 October 2024	-	24,562	24,562

Net Book Value
As at 31 October 2024	623,931	11,106	635,037

As at 1 November 2023	738,933	14,799	753,732

5. Debtors

	31 October 2024	31 October 2023
	£	£
Due within one year
Prepayments and accrued income	1,068	1,572
Other debtors	336,943	211,039
Directors' loan accounts	151,156	-
Amounts owed by subsidiaries	50,550	48,000

	539,717	260,611

6. Current Asset Investments

	31 October 2024	31 October 2023
	£	£
Unlisted investments	175,770	175,770

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KMD Property Investments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2024

7. Creditors: Amounts Falling Due Within One Year

	31 October 2024	31 October 2023
	£	£
Corporation tax	3,099	-
Other creditors	839,492	769,487
Directors' loan accounts	-	6,923

	842,591	776,410

8. Creditors: Amounts Falling Due After More Than One Year

	31 October 2024	31 October 2023
	£	£
Bank loans	233,796	177,820

9. Secured Creditors

Of the creditors falling due within and after more than one year the following amounts are secured.

The below bank loans are secured on the investment properties. They are interest only with a term of 35 years. 85 Bridge street has a term of 10 years and 122 Newcastle has term of 5 years. SSAS loans are for 5 years.

	31 October 2024		31 October 2023
	£		£
Bank loans and overdrafts	1,073,186		934,289

10. Share Capital

	31 October 2024	31 October 2023
Allotted, called up and fully paid	£	£
95 Ordinary A shares of £ 1.000 each	95	95
5 Ordinary B shares of £ 1.000 each	5	5

	100	100

11. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 November 2023	Amounts advanced	Amounts repaid	Amounts written off	As at 31 October 2024
	£	£	£	£	£
Mr Kevin McDonnell	(6,923 )	158,391	312	-	151,156

The above loan is unsecured, interest free and repayable on demand.

12. Reserves

	Fair Value Reserve
	£
As at 1 November 2023	202,798
Transfer to profit and loss	(32,743 )

As at 31 October 2024	170,055

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KMD Property Investments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2024

13. Related Party Transactions

During the year the company was owed £3,000 (2023: £3,000) from JZRB Property Ltd, a company in which KMD Property Investments has 50 shares. The company was also owed a further amount of £16,050 (2023: £15,000) from Lazmc Property Investments, a company in which KMD Property Investments had 50 shares.The amounts were loaned interest free and are repayable on demand. They are included within Amounts owed by subsidiaries.

During the year the company was owed £113,361 (2023: £113,361) from Maskey McDonnell Limited, a company in which the director, Kevin McDonnell, is also a director. This amount is loaned interest free and is repayable on demand. It is included within other debtors.

During the year the company owed £796,450 (2023: £683,450) to Smart Property Education Limited, a company in which the director, Kevin McDonnell, is also a director. This amount is loaned interest free and is repayable on demand. It is included within other creditors.

During the year, the company was owed £126,989(£500.00) by Belrik Property Limited, a subsidiary of KMD Property Investments.

14. Controlling Party

The company's controlling party is Kevin McDonnell by virtue of his ownership of 95% of the issued share capital in the company.

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		31 October 2024		31 October 2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		635,037		753,732

			635,037		753,732
CURRENT ASSETS
Debtors	5	539,717		260,611
Investments	6	175,770		175,770
Cash at bank and in hand		27,875		28,978

		743,362		465,359
Creditors: Amounts Falling Due Within One Year	7	(842,591 )		(776,410 )

NET CURRENT ASSETS (LIABILITIES)			(99,229 )		(311,051 )

TOTAL ASSETS LESS CURRENT LIABILITIES			535,808		442,681

Creditors: Amounts Falling Due After More Than One Year	8		(233,796 )		(177,820 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(20,343 )		(28,023 )

NET ASSETS			281,669		236,838

CAPITAL AND RESERVES
Called up share capital	10		100		100
Fair value reserve	12		170,055		202,798
Profit and Loss Account			111,514		33,940

SHAREHOLDERS' FUNDS			281,669		236,838