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REGISTERED NUMBER: 11314333 (England and Wales)


Unaudited Financial Statements for the Year Ended 30 September 2024

for

KMP (Sutton) Ltd

KMP (Sutton) Ltd (Registered number: 11314333)






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 4


KMP (Sutton) Ltd

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Mr B Patel
Mr N N Patel
Mr V M Patel





REGISTERED OFFICE: 2nd Floor, Compton House
29-33 Church Road
Stanmore
Middlesex
HA7 4AR





REGISTERED NUMBER: 11314333 (England and Wales)





ACCOUNTANTS: Andrew Murray & Co
Business Advisors and Statutory Auditors
144-146 Kings Cross Road
King's Cross
WC1X 9DU

KMP (Sutton) Ltd (Registered number: 11314333)

Statement of Financial Position
30 September 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 99,096 2,560
Investment property 5 3,700,000 3,700,000
3,799,096 3,702,560

CURRENT ASSETS
Debtors 6 17,694 11,630
Cash at bank 59,165 31,276
76,859 42,906
CREDITORS
Amounts falling due within one year 7 3,179,093 3,020,102
NET CURRENT LIABILITIES (3,102,234 ) (2,977,196 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

696,862

725,364

PROVISIONS FOR LIABILITIES 10 294,486 237,213
NET ASSETS 402,376 488,151

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 809,136 711,640
Retained earnings (406,860 ) (223,589 )
SHAREHOLDER FUNDS 402,376 488,151

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.

KMP (Sutton) Ltd (Registered number: 11314333)

Statement of Financial Position - continued
30 September 2024


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 Income Statement has not been delivered.

The financial statements were authorised for issue by the Board of Directors and authorised for issue on 29 May 2025 and were signed on its behalf by:





Mr V M Patel - Director


KMP (Sutton) Ltd (Registered number: 11314333)

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

1. STATUTORY INFORMATION

KMP (Sutton) Ltd is a private company, limited by shares , registered in England and Wales. 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 as modified by the revaluation of certain assets.

Going Concern
As at 30th September 2024, the company's current liabilities exceeded current assets by £3,102,234 (2023: £2,977,196). However, the directors of the company consider that the going concern basis is appropriate in view of the assurance of continuing financial support which the company has received from its shareholders.The financial statements do not reflect the adjustments that would be required if the company was not a going concern.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents rent receivable in respect of properties and is attributable to the company's principal activity. Rents are invoiced on monthly basis and rental income is recognised for the period to which it relates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on 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.

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

KMP (Sutton) Ltd (Registered number: 11314333)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 October 2023 3,840
Additions 129,995
At 30 September 2024 133,835
DEPRECIATION
At 1 October 2023 1,280
Charge for year 33,459
At 30 September 2024 34,739
NET BOOK VALUE
At 30 September 2024 99,096
At 30 September 2023 2,560

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023 3,700,000
Revaluations 129,995
Reclassification/transfer (129,995 )
At 30 September 2024 3,700,000
NET BOOK VALUE
At 30 September 2024 3,700,000
At 30 September 2023 3,700,000

KMP (Sutton) Ltd (Registered number: 11314333)

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

5. INVESTMENT PROPERTY - continued

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2021 948,853
Valuation in 2024 129,995
Cost 2,621,152
3,700,000

If Investment properties had not been revalued they would have been included at the following historical cost:

30.9.24 30.9.23
£    £   
Cost 261,152 2,751,147

Investment properties were valued on open market basis on 21 January 2021 by Aitchison Raffety .

In the opinion of the directors the market value of the properties are not significantly different from their book values.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 1,979 2,175
Other debtors 15,715 9,455
17,694 11,630

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts (see note 8) - 2,145,000
Trade creditors (1 ) 1,655
Other creditors 3,122,451 823,675
Accrued expenses 56,643 49,772
3,179,093 3,020,102

8. 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 - 2,145,000

KMP (Sutton) Ltd (Registered number: 11314333)

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

9. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Bank loans - 2,145,000

In March 2021 the company received new loan advance of £2,200,000 from Handlesbanken Plc. This loan is secured by way of fixed and floating charge over all the property or undertaking of the company. This was repaid in full in October 2023.

10. PROVISIONS FOR LIABILITIES
30.9.24 30.9.23
£    £   
Deferred tax
Accelerated capital allowances 24,774 -
Deferred tax 269,712 237,213
294,486 237,213

Deferred
tax
£   
Balance at 1 October 2023 237,213
Provided during year 57,273
Balance at 30 September 2024 294,486

11. RELATED PARTY DISCLOSURES

Included in the other creditors is an amount of £3,089,785 (2023: £805,181) owed by the company to KMP PropFin Ltd and during the year loan interest of £172,578 (2023: £28,052) was charged to the company by KMP PropFin Ltd, a related party entity.This loan is non-instalment and repayable on demand.

Also included in other creditors is an amount of £17,051 (2023: £9,139) owed by the company to KMP & Sons, a related party entity.This amount is non-interest bearing and payable on demand.