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REGISTERED NUMBER: 14684153 (England and Wales)


Unaudited Financial Statements for the Year Ended 30 September 2024

for

KMP (Whitechapel) Limited

KMP (Whitechapel) Limited (Registered number: 14684153)






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 (Whitechapel) Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Mr V M Patel
Mr K M Patel
Mr V N Patel
Mr N N Patel





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





REGISTERED NUMBER: 14684153 (England and Wales)





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

KMP (Whitechapel) Limited (Registered number: 14684153)

Statement of Financial Position
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 3,000,000 2,067,069

CURRENT ASSETS
Debtors 5 19,176 11,439
Cash at bank 46,101 68,972
65,277 80,411
CREDITORS
Amounts falling due within one year 6 2,190,496 2,139,438
NET CURRENT LIABILITIES (2,125,219 ) (2,059,027 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

874,781

8,042

PROVISIONS FOR LIABILITIES 7 233,233 -
NET ASSETS 641,548 8,042

CAPITAL AND RESERVES
Called up share capital 8 120 120
Non-distributable reserves 9 699,698 -
Retained earnings 9 (58,270 ) 7,922
SHAREHOLDER FUNDS 641,548 8,042

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 (Whitechapel) Limited (Registered number: 14684153)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 June 2025 and were signed on its behalf by:





Mr V M Patel - Director


KMP (Whitechapel) Limited (Registered number: 14684153)

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

1. STATUTORY INFORMATION

KMP (Whitechapel) Limited 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
The financial statements have been prepared on a going concern basis, notwithstanding the fact that there is a net current deficit of £2,125,219 (2023: £2,059,027) on the balance sheet. The directors, having made adequate enquiries, are satisfied that the company will continue to receive necessary support from its shareholders to maintain the company as a going concern. Therefore, the directors are of the opinion that it is appropriate to adopt the going concern basis in preparing the financial statements for the year ended. The financial statements do not reflect the adjustments that would be required if the company was not a going concern.

Turnover
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 generated by rent receivable recognised for the period which it is due and measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 Statement of Income and Retained Earnings, 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 (Whitechapel) Limited (Registered number: 14684153)

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 4 (2023 - 4 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023 2,067,069
Revaluations 932,931
At 30 September 2024 3,000,000
NET BOOK VALUE
At 30 September 2024 3,000,000
At 30 September 2023 2,067,069

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2023 932,931
Cost 2,067,069
3,000,000

If investment property had not been revalued it would have been included at the following historical cost:

30.9.24 30.9.23
£    £   
Cost 2,067,069 2,067,069

Investment properties were valued on an open market basis on 18 July 2023 by Cushman & Wakefield .

In the opinion of the directors the fair value of the investment properties as at balance sheet date are not significantly different from their book value

KMP (Whitechapel) Limited (Registered number: 14684153)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 4,045 178
Other debtors 11,804 7,576
Prepayments and accrued income 3,327 3,685
19,176 11,439

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors - 17,393
Tax - 1,858
Other creditors 11,684 1,007,456
Due to related parties 2,154,647 1,080,000
Accrued expenses 24,165 32,731
2,190,496 2,139,438

7. PROVISIONS FOR LIABILITIES
30.9.24 30.9.23
£    £   
Deferred tax 233,233 -

Deferred
tax
£   
Provided during year 233,233
Balance at 30 September 2024 233,233

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
120 Ordinary £1 120 120

9. RESERVES
Retained Non-distributable
earnings reserves Totals
£    £    £   

At 1 October 2023 7,922 - 7,922
Profit for the year 633,506 633,506
Non-distributable reserves (699,698 ) 699,698 -
At 30 September 2024 (58,270 ) 699,698 641,428

KMP (Whitechapel) Limited (Registered number: 14684153)

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

10. RELATED PARTY DISCLOSURES

As at balance sheet date the company owed £2,154,647 (2023: £1,080,000) to KMP PropFin Ltd, a related party entity.

National Westminster Bank Plc has fixed and floating charge over all the property and undertaking of the company against a loan advanced to KMP Propfin Limited, a related party entity.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is not known.