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REGISTERED NUMBER: 12137314 (England and Wales)


Unaudited Financial Statements for the Year Ended 30 September 2024

for

KMP (NORTH DULWICH) LIMITED

KMP (NORTH DULWICH) LIMITED (Registered number: 12137314)






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 (NORTH DULWICH) LIMITED

Company Information
for the Year Ended 30 September 2024







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





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





REGISTERED NUMBER: 12137314 (England and Wales)





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

KMP (NORTH DULWICH) LIMITED (Registered number: 12137314)

Statement of Financial Position
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 39,236 95,847
Investment property 5 7,450,000 7,450,000
7,489,236 7,545,847

CURRENT ASSETS
Debtors 6 31,288 42,427
Cash at bank 42,449 28,068
73,737 70,495
CREDITORS
Amounts falling due within one year 7 97,925 84,175
NET CURRENT LIABILITIES (24,188 ) (13,680 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,465,048

7,532,167

CREDITORS
Amounts falling due after more than one
year

8

(5,728,224

)

(5,630,803

)

PROVISIONS FOR LIABILITIES 11 (611,126 ) (638,675 )
NET ASSETS 1,125,698 1,262,689

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 1,803,952 1,844,139
Retained earnings (678,354 ) (581,550 )
SHAREHOLDER FUNDS 1,125,698 1,262,689

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 (NORTH DULWICH) LIMITED (Registered number: 12137314)

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 11 June 2025 and were signed on its behalf by:





Mr V M Patel - Director


KMP (NORTH DULWICH) LIMITED (Registered number: 12137314)

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

1. STATUTORY INFORMATION

KMP (NORTH DULWICH) 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 £24,188 (2023: £13,680) 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty
In preparing the financial statements, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant and reasonable under the circumstances. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

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 amounts receivable for rent and services. Rent is recognised for the period for which it is due.

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 - straight line over 3 years
Fixtures and fittings - straight line over 3 years

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.

KMP (NORTH DULWICH) LIMITED (Registered number: 12137314)

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

2. ACCOUNTING POLICIES - continued

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.

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 ) .

KMP (NORTH DULWICH) LIMITED (Registered number: 12137314)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 October 2023
and 30 September 2024 116,422 62,973 179,395
DEPRECIATION
At 1 October 2023 38,807 44,741 83,548
Charge for year 38,808 17,803 56,611
At 30 September 2024 77,615 62,544 140,159
NET BOOK VALUE
At 30 September 2024 38,807 429 39,236
At 30 September 2023 77,615 18,232 95,847

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023 7,450,000
Additions 53,582
Revaluations (53,582 )
At 30 September 2024 7,450,000
NET BOOK VALUE
At 30 September 2024 7,450,000
At 30 September 2023 7,450,000

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2022 2,458,852
Valuation in 2024 (53,582 )
Cost 5,044,730
7,450,000

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

30.9.24 30.9.23
£    £   
Cost 5,044,730 4,991,148

Investment properties were valued on an open market basis on 28 October 2022 by Strutt & Parker .

KMP (NORTH DULWICH) LIMITED (Registered number: 12137314)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 2,400 -
Other debtors 28,888 42,427
31,288 42,427

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors (1 ) (1 )
Other creditors 45,839 23,966
Accrued expenses 52,087 60,210
97,925 84,175

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans (see note 9) 3,658,512 3,680,088
Other loans (see note 9) 2,069,712 1,950,715
5,728,224 5,630,803

9. LOANS

An analysis of the maturity of loans is given below:

30.9.24 30.9.23
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 3,658,512 3,680,088
Other loans - 2-5 years 2,069,712 1,950,715
5,728,224 5,630,803

10. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Bank loans 3,658,512 3,680,088

The bank loan from Lloyds Bank is secured by way of fixed and floating charge over all the property and undertaking of the company.

KMP (NORTH DULWICH) LIMITED (Registered number: 12137314)

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

11. PROVISIONS FOR LIABILITIES
30.9.24 30.9.23
£    £   
Deferred tax
Accelerated capital allowances 9,809 23,962
Deferred tax 601,317 614,713
611,126 638,675

Deferred
tax
£   
Balance at 1 October 2023 638,675
Provided during year (27,549 )
Balance at 30 September 2024 611,126

12. RELATED PARTY DISCLOSURES

Included in the other loans is an amount of £2,069,712 (2023: £1,905,715) owed by the company to KMP Propfin Ltd, a related party entity and during the year interest amount o £38,997 (2023: £90,715) was charged to the company by KMP PropFin Ltd.This loan is non-instalment and repayable within 2 to 5 years.

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 loan is interest free and payable on demand.

Natwest Bank Plc has a fixed and floating charge over all company assets and undertakings against a loan advanced to KMP Propfin Ltd, a company under common control.

13. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.