Company registration number 03376856 (England and Wales)
KAPITAL PROPERTY DEVELOPMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
KAPITAL PROPERTY DEVELOPMENTS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
KAPITAL PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03376856)
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
3
308
431
Current assets
Stocks
3,583,818
4,461,020
Debtors
4
402,819
633,833
Cash at bank and in hand
73,294
392,788
4,059,931
5,487,641
Creditors: amounts falling due within one year
5
(1,081,892)
(1,564,635)
Net current assets
2,978,039
3,923,006
Total assets less current liabilities
2,978,347
3,923,437
Creditors: amounts falling due after more than one year
6
(1,510,638)
(2,292,447)
Provisions for liabilities
10,809
(108)
Net assets
1,478,518
1,630,882
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
1,478,418
1,630,782
Total equity
1,478,518
1,630,882

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

The director acknowledges his 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.

KAPITAL PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03376856)
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2024
30 June 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 23 December 2024
Mr R G Beardwell
Director
KAPITAL PROPERTY DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information

Kapital Property Developments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 10 Upper Grosvenor Road, Tunbridge Wells, England, TN1 2EP.

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 £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value received or receivable from property development on the legal completion of a transaction.

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:

Computer equipment
25% on straight line

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
Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

KAPITAL PROPERTY DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
1.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Computer equipment
£
Cost
At 1 July 2023 and 30 June 2024
493
Depreciation and impairment
At 1 July 2023
62
Depreciation charged in the year
123
At 30 June 2024
185
Carrying amount
At 30 June 2024
308
At 30 June 2023
431
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
402,819
633,833
KAPITAL PROPERTY DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
7,414
7,553
Taxation and social security
33,505
41,415
Other creditors
1,040,973
1,515,667
1,081,892
1,564,635
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,510,638
2,292,447

The long term loans are secured against the assets of the company.

7
Prior period adjustment
Reconciliation of changes in equity
The prior period adjustments do not give rise to any effect upon equity.
Notes to reconciliation

A prior year adjustment has been recognised to correct an historic error on stock.

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