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Registration number: 12456672

Kasma Property Ltd

Annual Report and Unaudited Financial Statements

for the year ended 30 September 2024

 

Kasma Property Ltd

Contents

Statement of Financial Position

1 to 2

Statement of Changes in Equity

3

Notes to the Unaudited Financial Statements

4 to 6

 

Kasma Property Ltd

(Registration number: 12456672)
Statement of Financial Position
30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

1,297,602

995,418

Current assets

 

Cash at bank and in hand

 

2,864

18,328

Creditors: Amounts falling due within one year

5

(734,495)

(337,340)

Net current liabilities

 

(731,631)

(319,012)

Total assets less current liabilities

 

565,971

676,406

Creditors: Amounts falling due after more than one year

5

(351,360)

(462,950)

Provisions for liabilities

(53,600)

(53,600)

Net assets

 

161,011

159,856

Capital and reserves

 

Called up share capital

100

100

Revaluation reserve

160,745

160,745

Retained earnings

166

(989)

Shareholders' funds

 

161,011

159,856

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 June 2025
 

 

Kasma Property Ltd

(Registration number: 12456672)
Statement of Financial Position
30 September 2024

.........................................
M T W Jones
Director

 

Kasma Property Ltd

Statement of Changes in Equity
for the year ended 30 September 2024

Share capital
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 October 2023

100

160,745

(989)

159,856

Profit for the year

-

-

1,155

1,155

At 30 September 2024

100

160,745

166

161,011

Share capital
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 October 2022

100

160,745

1,047

161,892

Loss for the year

-

-

(2,036)

(2,036)

At 30 September 2023

100

160,745

(989)

159,856

 

Kasma Property Ltd

Notes to the Unaudited Financial Statements
for the year ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit 1, 28 Goring Road
Goring By Sea
Worthing
West Sussex
BN12 4AD

These financial statements were authorised for issue by the director on 23 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

Kasma Property Ltd

Notes to the Unaudited Financial Statements
for the year ended 30 September 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Kasma Property Ltd

Notes to the Unaudited Financial Statements
for the year ended 30 September 2024

4

Investment properties

2024
£

At 1 October

995,418

Additions

302,184

At 30 September

1,297,602


The fair value of the investment property has been arrived at on the basis of a valuation carried out at 30 September 2024 by the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

-

667

Accruals and deferred income

1,380

1,440

Other creditors

733,115

335,233

734,495

337,340

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

6

351,360

462,950

6

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

351,360

462,950