| K & R ESTATES DEVELOPMENTS LTD |
| Registered number: |
10859809 |
| Balance Sheet |
| as at 31 July 2024 |
| Notes |
|
|
2024 |
|
|
2023 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
1,650,000 |
|
|
1,610,000 |
| Investments |
4 |
|
|
210 |
|
|
210 |
|
|
|
|
1,650,210 |
|
|
1,610,210 |
|
| Current assets |
| Debtors |
5 |
|
434,669 |
|
|
429,100 |
| Cash at bank and in hand |
|
|
17,427 |
|
|
3,523 |
|
|
|
452,096 |
|
|
432,623 |
|
| Creditors: amounts falling due within one year |
6 |
|
(1,074,446) |
|
|
(1,068,757) |
|
| Net current liabilities |
|
|
|
(622,350) |
|
|
(636,134) |
|
| Total assets less current liabilities |
|
|
|
1,027,860 |
|
|
974,076 |
|
| Creditors: amounts falling due after more than one year |
7 |
|
|
(930,000) |
|
|
(920,000) |
|
| Provisions for liabilities |
|
|
|
(12,179) |
|
|
(4,579) |
|
|
| Net assets |
|
|
|
85,681 |
|
|
49,497 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
200 |
|
|
200 |
| Revaluation reserve |
8 |
|
|
51,921 |
|
|
19,521 |
| Profit and loss account |
|
|
|
33,560 |
|
|
29,776 |
|
| Shareholders' funds |
|
|
|
85,681 |
|
|
49,497 |
|
|
|
|
|
|
|
|
| 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 V Raithatha |
| Director |
| Approved by the board on 29 July 2025 |
|
| K & R ESTATES DEVELOPMENTS LTD |
| Notes to the Accounts |
| for the year ended 31 July 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 represents rent receivable during year. |
|
|
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: |
|
|
Investment properties |
At valuation |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
|
|
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. |
|
| 2 |
Employees |
2024 |
|
2023 |
| Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Investment Properties |
| £ |
|
Cost/Valuation |
|
At 1 August 2023 |
1,610,000 |
|
Surplus on revaluation |
40,000 |
|
At 31 July 2024 |
1,650,000 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 July 2024 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 July 2024 |
1,650,000 |
|
At 31 July 2023 |
1,610,000 |
|
|
|
|
|
|
|
|
|
|
|
Investment Properties: |
2024 |
|
2023 |
| £ |
£ |
|
Historical cost |
1,585,900 |
|
1,585,900 |
|
Cumulative depreciation based on historical cost |
- |
|
- |
|
|
|
|
|
|
1,585,900 |
|
1,585,900 |
|
| 4 |
Investments |
| Investments in |
| subsidiary |
| undertakings |
| £ |
|
Cost |
|
At 1 August 2023 |
210 |
|
|
At 31 July 2024 |
210 |
|
|
The investments in subsidiary undertakings relate to the investments in K & R Estates Ltd and K & R Investments Ltd, both companies are incorporated in the UK and are 100% owned by K & R Developments Ltd |
|
|
The Company has taken advantage of the exemption under section 405 of Companies Act 2006, not to prepare Consolidated Accounts, as the group qualifies as a small group. |
|
|
| 5 |
Debtors |
2024 |
|
2023 |
| £ |
£ |
|
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest (see note 8 below) |
|
429,100 |
|
429,100 |
|
Other debtors |
5,569 |
|
- |
|
|
|
|
|
|
434,669 |
|
429,100 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Taxation and social security costs |
- |
|
(2,513) |
|
Other creditors |
1,074,446 |
|
1,071,270 |
|
|
|
|
|
|
1,074,446 |
|
1,068,757 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Bank loan |
930,000 |
|
920,000 |
|
|
|
|
|
|
|
|
|
|
The bank loan is secured by a mortgage over the company investment properties and personal guarantees provided by directors of the company. |
|
| 8 |
Revaluation reserve |
2024 |
|
2023 |
| £ |
£ |
|
|
At 1 August 2023 |
19,521 |
|
173,421 |
|
Gain/(loss) on revaluation of land and buildings |
40,000 |
|
(190,000) |
|
Deferred taxation arising on the revaluation of land and buildings |
(7,600) |
|
36,100 |
|
|
At 31 July 2024 |
51,921 |
|
19,521 |
|
|
|
|
|
|
|
|
|
|
This related to the gain on revaluation of the company's Investment Properties at 31 July 2024. |
|
The revaluation was done by the directors based on market value and there has been no change in |
|
valuation since the last valuation. |
|
| 9 |
Related party transaction |
|
|
At the year end, K & R Developments Limited was owed £409,100 ( 2023 - £409,100) by K & R Estates Limited, a company which is 100% owned by K & R Developments Limited, as disclosed in note 5 above. |
|
|
At the year end, K & R Developments Limited was owed £20,000 ( 2023 - £20,000) by K & R Investments Limited, a company which is 100% owned by K & R Developments Limited, as disclosed in note 5 above. |
|
| 10 |
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. |
|
|
| 11 |
Other information |
|
|
K & R ESTATES DEVELOPMENTS LTD is a private company limited by shares and incorporated in England. Its registered office is: |
|
309 Hoe Street |
|
Walthamstow |
|
London |
|
E17 9BG |