Company registration number 12362617 (England and Wales)
KAIP PROPERTY INVESTMENTS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
KAIP PROPERTY INVESTMENTS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
KAIP PROPERTY INVESTMENTS LTD
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
534
Investment property
4
2,620,000
2,214,730
2,620,534
2,214,730
Current assets
Debtors
5
3,570
3,541
Cash at bank and in hand
60,357
20,896
63,927
24,437
Creditors: amounts falling due within one year
6
(1,190,982)
(1,206,206)
Net current liabilities
(1,127,055)
(1,181,769)
Total assets less current liabilities
1,493,479
1,032,961
Creditors: amounts falling due after more than one year
7
(630,000)
(675,000)
Provisions for liabilities
8
(101,451)
Net assets
762,028
357,961
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
761,928
357,861
Total equity
762,028
357,961
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
KAIP PROPERTY INVESTMENTS LTD
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 20 June 2025 and are signed on its behalf by:
Mr IP Butcher
Director
Company Registration No. 12362617
KAIP PROPERTY INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information
KAIP Property Investments Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 21 The Mile, Pocklington, York, YO42 2HQ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties. The principal accounting policies adopted are set out below.
1.2
Going concern
At the year end the company reported net current liabilities totalling true£1,127,055 (2023: £1,181,769 ). However, liabilities includes £548,593 (2023: £554,667) owed to the directors. The directors of the company have indicated their willingness to finance any shortages in the company's day to day finances and for such an arrangement to continue for a period of not less than one year from the date the financial statements were approved.
The company meets its day to day working capital requirements through shareholder and external borrowings.
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for a period of at least 12 months from the date of signing these financial statements. The company therefore continues to adopt the going concern basis in preparing its financial statements.
1.3
Turnover
Turnover from property rental is recognised on a straight line basis over the term of the lease.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
25%
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.6
Financial instruments
KAIP PROPERTY INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities
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.
1.7
Equity instruments
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.
1.8
Taxation
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
KAIP PROPERTY INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
3
Tangible fixed assets
Office equipment
£
Cost
At 1 January 2024
Additions
657
At 31 December 2024
657
Depreciation and impairment
At 1 January 2024
Depreciation charged in the year
123
At 31 December 2024
123
Carrying amount
At 31 December 2024
534
At 31 December 2023
4
Investment property
2024
£
Fair value
At 1 January 2024
2,214,730
Revaluations
405,270
At 31 December 2024
2,620,000
The investment property has been valued at 31 December 2024 by the director. The valuation was made on an open market value basis by reference to rental yields and market evidence of transaction prices for similar properties.
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Prepayments and accrued income
3,570
3,541
KAIP PROPERTY INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
30,864
25,679
Other creditors
1,151,693
1,172,167
Accruals and deferred income
8,425
8,360
1,190,982
1,206,206
Other creditors includes £548,593 due to the directors, this amount is interest free and repayable on demand.
Other creditors includes £558,100 due to the sole shareholder of the company, this amount is interest free and repayable on demand.
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
630,000
675,000
Other creditors consists of loans due to family members of the directors, these loans are interest free and repayable on demand.
Amounts included above which fall due after five years are as follows:
Payable by instalments
450,000
495,000
8
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
101,451
Deferred tax liabilities result from the uplift in value of the company's investment property.