Company Registration No. 15084968 (England and Wales)
KINGSTON MARKET BUILDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
TWP Accounting LLP
Chartered Accountants
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
KINGSTON MARKET BUILDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
KINGSTON MARKET BUILDINGS LIMITED
Company Registration No. 15084968
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
Notes
£
£
Fixed assets
Tangible assets
3
11,906
Investment properties
4
2,960,861
2,972,767
Current assets
Stocks
48,004
Debtors
5
1,250
Cash at bank and in hand
52,527
101,781
Creditors: amounts falling due within one year
6
(3,096,943)
Net current liabilities
(2,995,162)
Net liabilities
(22,395)
Capital and reserves
Called up share capital
7
60
Profit and loss reserves
(22,455)
Total equity
(22,395)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 30 May 2025 and are signed on its behalf by:
I Al-Derzi
Director
KINGSTON MARKET BUILDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Kingston Market Buildings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 20 Market Place, Kingston Upon Thames, Surrey, KT1 1JP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Reporting period

The company was incorporated on 21 August 2023. The first accounting period covers the periods from 21 August 2023 to 31 December 2024.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for buying and selling real estate provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

KINGSTON MARKET BUILDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.8
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

1.9
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10
Financial instruments
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
Number
Total
3
KINGSTON MARKET BUILDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 4 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 21 August 2023
-
0
Additions
15,874
At 31 December 2024
15,874
Depreciation and impairment
At 21 August 2023
-
0
Depreciation charged in the period
3,968
At 31 December 2024
3,968
Carrying amount
At 31 December 2024
11,906
4
Investment property
2024
£
Fair value
At 21 August 2023
-
0
Other changes
2,960,861
At 31 December 2024
2,960,861

The fair value of the investment property at 31 December 2024 was £2,960,861 and was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

5
Debtors
2024
Amounts falling due within one year:
£
Other debtors
1,250
6
Creditors: amounts falling due within one year
2024
£
Taxation and social security
4,531
Other creditors
3,092,412
3,096,943
KINGSTON MARKET BUILDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 5 -
7
Called up share capital
2024
2024
Ordinary share capital
Number
£
Issued and fully paid
Ordinary shares of £1 each
60
60
8
Related party transactions

As at the balance sheet date, the company owed £987,239 to the director A Al-Derzi and S Shanshal (spouse).

 

As at the balance sheet date, the company owed £1,527,507 to RIZR Market Place Ltd, a company in which the director, I Al-Derzi, has significant interest.

 

As at the balance sheet date, the company owed £502,534 to Mashki Ltd, a company in which the director, A Dabbagh, has significant interest.

 

 

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