Registered number
04670004
K & R ESTATES LIMITED
Filleted Accounts
21 February 2024
TEMPLETONS (HOLDINGS) LIMITED
CHARTERED ACCOUNTANTS
309 HOE STREET
WALTHAMSTOW
LONDON E17 9BG
K & R ESTATES LIMITED
Registered number: 04670004
Balance Sheet
as at 21 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,328,858 3,185,145
Current assets
Debtors 4 3,972,101 3,249,129
Cash at bank and in hand 110,355 38,331
4,082,456 3,287,460
Creditors: amounts falling due within one year 5 (2,260,125) (1,534,968)
Net current assets 1,822,331 1,752,492
Total assets less current liabilities 3,151,189 4,937,637
Creditors: amounts falling due after more than one year 6 - (1,586,476)
Provisions for liabilities (1,375) (51,456)
Net assets 3,149,814 3,299,705
Capital and reserves
Called up share capital 200 200
Revaluation reserve 7 - 213,506
Profit and loss account 3,149,614 3,085,999
Shareholders' funds 3,149,814 3,299,705
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr R Raithatha
Director
Approved by the board on 19 June 2025
K & R ESTATES LIMITED
Notes to the Accounts
for the period from 1 March 2023 to 21 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services and rental income from Investment Properties.. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15 % reducing balance
Motor Vehicles 25 % reducing balance
Investment Properties At valuation
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost or Valuation
At 1 March 2023 3,159,802 86,370 19,341 3,265,513
Additions 1,350,289 1,676 36,498 1,388,463
Disposals (3,228,961) - (19,341) (3,248,302)
At 21 February 2024 1,281,130 88,046 36,498 1,405,674
Depreciation
At 1 March 2023 - 64,100 16,269 80,369
Charge for the period - 3,591 9,124 12,715
On disposals - - (16,268) (16,268)
At 21 February 2024 - 67,691 9,125 76,816
Net book value
At 21 February 2024 1,281,130 20,355 27,373 1,328,858
At 28 February 2023 3,159,802 22,270 3,072 3,185,144
Freehold land and buildings: 2024 2023
£ £
Historical cost 1,279,455 2,896,214
Cumulative depreciation based on historical cost - -
1,279,455 2,896,214
4 Debtors 2024 2023
£ £
Trade debtors 77,684 207,405
Amounts owed by group undertakings and undertakings in which the company has a participating interest 3,857,617 3,041,724
Advance and deposits 36,800 -
3,972,101 3,249,129
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loan and credit card balance 836 21,601
Trade creditors 9,467 12,625
Amounts owed to group undertakings and undertakings in which the company has a participating interest 408,920 408,920
Corporation tax 27,443 14,232
Other taxes and social security costs 9,915 17,506
Other creditors 1,803,544 1,060,084
2,260,125 1,534,968
Included under other creditors is a balance o £252,695 (2023: £658,952) owed to Bestlines Limited. This loan was taken on a commercial basis and an amount of interest payable of £29,115 (2023: £69,944) was accrued at the year end with interest rate ranging between 4.5 % to 5.5% per annum.
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loan ( see note below) - 1,586,476
The loans were fully repaid during the year.
7 Revaluation reserve 2024 2023
£ £
At 1 March 2023 213,506 335,661
Loss on revaluation of land and buildings (263,587) (150,809)
Deferred taxation arising on the revaluation of land and buildings 50,081 28,654
At 21 February 2024 - 213,506
This related to the loss arising on disposal and revaluation of the company's Investment properties
as at 21 February 2024 . The valuation was carried out by the company directors' based on market
values. The directors are not aware of any material change in value since the date of the valuation.
8 Related party transactions 2024 2023
£ £
i) K & R Developments Limited
K & R Estates Limited is 100 % owned by K & R Developments Limited.
At the year end the balances between the 2 companies were as follows:
Payable to K & R Developments Limited 408,920 408,920
(disclosed in note 5 under creditors above)
Related party transactions ( continuation)
ii) K & R Estates Investments Limited
K & R Estates Investments Limited is 100 % owned by K & R
Development Limited, which is also the parent company of
K & R Estates Limited
At the year end the balances between the 2 companies were as follows:
Receivable from K & R Estates Investments Limited 3,765,428 2,949,536
(disclosed in note 4 under debtors above)
iii) K & R Estates (London) LLP
Mr R V Raithatha and Mrs K Raithatha are the partners in K & R Estates (London) LLP
At the year end the balances between the 2 companies were as follows:
Receivable from K & R Estates (London ) LLP 92,032 92,032
(disclosed in note 4 under debtors above)
9 Controlling party
The company was under the control of Mr R V Raithatha and Mrs K R Raithatha, both Directors of the company throughout the year.
10 Other information
K & R ESTATES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
309 Hoe Street
Walthamstow
London
E17 9BG
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