Caseware UK (AP4) 2024.0.164 2024.0.164 2023-07-312023-07-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.1false2022-08-01No description of principal activity1truetruefalse 10912529 2022-08-01 2023-07-31 10912529 2021-08-01 2022-07-31 10912529 2023-07-31 10912529 2022-07-31 10912529 2021-08-01 10912529 3 2022-08-01 2023-07-31 10912529 3 2021-08-01 2022-07-31 10912529 d:Director1 2022-08-01 2023-07-31 10912529 e:FreeholdInvestmentProperty 2023-07-31 10912529 e:FreeholdInvestmentProperty 2022-07-31 10912529 e:CurrentFinancialInstruments 2023-07-31 10912529 e:CurrentFinancialInstruments 2022-07-31 10912529 e:Non-currentFinancialInstruments 2023-07-31 10912529 e:Non-currentFinancialInstruments 2022-07-31 10912529 e:CurrentFinancialInstruments e:WithinOneYear 2023-07-31 10912529 e:CurrentFinancialInstruments e:WithinOneYear 2022-07-31 10912529 e:Non-currentFinancialInstruments e:AfterOneYear 2023-07-31 10912529 e:Non-currentFinancialInstruments e:AfterOneYear 2022-07-31 10912529 e:Non-currentFinancialInstruments e:BetweenOneTwoYears 2023-07-31 10912529 e:Non-currentFinancialInstruments e:BetweenOneTwoYears 2022-07-31 10912529 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2023-07-31 10912529 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2022-07-31 10912529 e:Non-currentFinancialInstruments e:MoreThanFiveYears 2023-07-31 10912529 e:Non-currentFinancialInstruments e:MoreThanFiveYears 2022-07-31 10912529 e:ShareCapital 2022-08-01 2023-07-31 10912529 e:ShareCapital 2023-07-31 10912529 e:ShareCapital 2021-08-01 2022-07-31 10912529 e:ShareCapital 2022-07-31 10912529 e:ShareCapital 2021-08-01 10912529 e:InvestmentPropertiesRevaluationReserve 2022-08-01 2023-07-31 10912529 e:InvestmentPropertiesRevaluationReserve 2023-07-31 10912529 e:InvestmentPropertiesRevaluationReserve 3 2022-08-01 2023-07-31 10912529 e:InvestmentPropertiesRevaluationReserve 2021-08-01 2022-07-31 10912529 e:InvestmentPropertiesRevaluationReserve 2022-07-31 10912529 e:InvestmentPropertiesRevaluationReserve 2021-08-01 10912529 e:InvestmentPropertiesRevaluationReserve 3 2021-08-01 2022-07-31 10912529 e:RetainedEarningsAccumulatedLosses 2022-08-01 2023-07-31 10912529 e:RetainedEarningsAccumulatedLosses 2023-07-31 10912529 e:RetainedEarningsAccumulatedLosses 3 2022-08-01 2023-07-31 10912529 e:RetainedEarningsAccumulatedLosses 2021-08-01 2022-07-31 10912529 e:RetainedEarningsAccumulatedLosses 2022-07-31 10912529 e:RetainedEarningsAccumulatedLosses 2021-08-01 10912529 e:RetainedEarningsAccumulatedLosses 3 2021-08-01 2022-07-31 10912529 e:OtherDeferredTax 2023-07-31 10912529 e:OtherDeferredTax 2022-07-31 10912529 d:FRS102 2022-08-01 2023-07-31 10912529 d:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 10912529 d:FullAccounts 2022-08-01 2023-07-31 10912529 d:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 10912529 e:ShareCapital 3 2022-08-01 2023-07-31 10912529 e:ShareCapital 3 2021-08-01 2022-07-31 10912529 f:PoundSterling 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure

Registered number: 10912529









KAITO PROPERTY LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2023

 
KAITO PROPERTY LTD
REGISTERED NUMBER: 10912529

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
81,237
81,237

  
81,237
81,237

Current assets
  

Debtors: amounts falling due within one year
 5 
25,952
31,952

Cash at bank and in hand
 6 
1,298
635

  
27,250
32,587

Creditors: amounts falling due within one year
 7 
(21,562)
(23,893)

Net current assets
  
 
 
5,688
 
 
8,694

Total assets less current liabilities
  
86,925
89,931

Creditors: amounts falling due after more than one year
 8 
(69,909)
(71,765)

Provisions for liabilities
  

Deferred tax
 10 
(4,744)
(5,091)

  
 
 
(4,744)
 
 
(5,091)

Net assets
  
12,272
13,075


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Investment property reserve
 11 
19,326
18,979

Profit and loss account
 11 
(8,054)
(6,904)

  
12,272
13,075

Page 1

 
KAITO PROPERTY LTD
REGISTERED NUMBER: 10912529
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 5 June 2025.




................................................
Obinna Osuagwu
Director

The notes on pages 5 to 12 form part of these financial statements.
Page 2

 
KAITO PROPERTY LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2023


Called up share capital
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 August 2022
1,000
18,979
(6,904)
13,075


Comprehensive income for the year

Loss for the year

-
-
(1,150)
(1,150)

Other movement type 3
-
347
-
347


Other comprehensive income for the year
-
347
-
347


Total comprehensive income for the year
-
347
(1,150)
(803)


Total transactions with owners
-
-
-
-


At 31 July 2023
1,000
19,326
(8,054)
12,272


The notes on pages 5 to 12 form part of these financial statements.
Page 3

 
KAITO PROPERTY LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2022


Called up share capital
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 August 2021
1,000
20,366
(1,424)
19,942


Comprehensive income for the year

Loss for the year

-
-
(5,480)
(5,480)

Other movement type 3
-
(1,387)
-
(1,387)


Other comprehensive income for the year
-
(1,387)
-
(1,387)


Total comprehensive income for the year
-
(1,387)
(5,480)
(6,867)


Total transactions with owners
-
-
-
-


At 31 July 2022
1,000
18,979
(6,904)
13,075


The notes on pages 5 to 12 form part of these financial statements.
Page 4

 
KAITO PROPERTY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

The legal form of the entity is a private company limited by share capital, registered in England and Wales and the registerred address is situated at Unit 3 Bradburys Court, Lyon Road, Harrow, Middlesex, HA1 2BY.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 5

 
KAITO PROPERTY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 6

 
KAITO PROPERTY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 7

 
KAITO PROPERTY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

4.


Investment property


Freehold investment property

£



Valuation


At 1 August 2022
81,237



At 31 July 2023
81,237

The 2023 valuations were made by Director, on an open market value for existing use basis.

2023
2022
£
£

Revaluation reserves


At 1 August 2022
18,979
20,366

Net surplus/(deficit) in movement properties
-
1,387

At 31 July 2023
18,979
21,753



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
51,000
51,000

51,000
51,000


5.


Debtors

2023
2022
£
£


Other debtors
25,952
31,952

25,952
31,952


Page 8

 
KAITO PROPERTY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,298
635

1,298
635



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other loans
6,093
10,000

Corporation tax
463
463

Other creditors
9,286
9,300

Accruals and deferred income
5,720
4,130

21,562
23,893


Page 9

 
KAITO PROPERTY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
35,801
37,851

Other loans
34,108
33,914

69,909
71,765


The following liabilities were secured:

2023
2022
£
£



Mortgage
34,108
33,914

34,108
33,914

Details of security provided:

The loan is secured as a first charge to specific investment property and contains negative pledge.

The aggregate amount of liabilities repayable wholly or in part more than five years after the reporting date is:

2023
2022
£
£


Repayable other than by instalments
34,108
33,914

34,108
33,914

The amounts repaybale by other than installments is an interest only term loan where the whole principal amount is repayable at the end of the term and currently paying interest at a fixed rate of 7.5%.

Page 10

 
KAITO PROPERTY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Other loans
6,094
10,000


6,094
10,000

Amounts falling due 1-2 years

Bank loans
6,246
10,000


6,246
10,000

Amounts falling due 2-5 years

Bank loans
19,540
27,851


19,540
27,851

Amounts falling due after more than 5 years

Bank loans
10,014
-

Other loans
34,108
33,914

44,122
33,914

76,002
81,765



10.


Deferred taxation




2023


£






At beginning of year
(5,091)


Charged to other comprehensive income
347



At end of year
(4,744)

Page 11

 
KAITO PROPERTY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
 
10.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Revaluations
(4,745)
(5,091)

(4,745)
(5,091)


11.


Reserves

Investment property revaluation reserve

The Investment Property Revaluation Reserve represents the surplus arising from the revaluation of investment properties. The reserve is presented separately in the statement of changes in equity.
The Investment Property Revaluation Reserve is used to record the fair value adjustments made to investment properties. The revaluation surplus for the year is calculated as the difference between the fair value of the investment properties at the reporting date and their carrying amounts.
Transfers to retained earnings represent the portion of the revaluation surplus that has been realised through the disposal or impairment of investment properties during the year.
Deferred tax arising from the revaluation of investment properties is recognised in accordance with FRS 102. The deferred tax is calculated using the enacted or substantively enacted tax rates that are expected to apply when the temporary difference reverses.

Profit and loss account

Profit and loss reserves represents the company’s profits available for distribution in accordance with the Companies Act 2006 as its accumulated realised profits, so far as not previously utilised by distribution or capitalisation less its accumulated realised losses, so far as not previously written off in a reduction or capitalisation.

 
Page 12