KM Properties 2020 Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 13100916 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

KM PROPERTIES 2020 LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTORS:

L Baker

P F J McDonnell

M A Ratcliffe

REGISTERED OFFICE:

20 Havelock Road

Hastings

East Sussex

TN34 1BP

REGISTERED NUMBER:

13100916 (England and Wales)

ACCOUNTANTS:

Ashdown Hurrey

Chartered Accountants & Business Advisers

20 Havelock Road

Hastings

East Sussex

TN34 1BP

FIXED ASSETS

Investment property

4

4,350,000

CURRENT ASSETS

Debtors

5

499,259

442,287

Cash at bank

14,845

2,590

514,104

444,877

CREDITORS

Amounts falling due within one year

6

418,716

332,977

NET CURRENT ASSETS

95,388

111,900

TOTAL ASSETS LESS CURRENT
LIABILITIES

4,445,388

4,461,900

CREDITORS

Amounts falling due after more than one
year

7

(1,768,435

)

(1,798,185

)

PROVISIONS FOR LIABILITIES

(87,500

)

(87,500

)

NET ASSETS

2,589,453

2,576,215

CAPITAL AND RESERVES

Called up share capital

1

Revaluation reserve

10

262,500

Retained earnings

2,326,952

2,313,714

2,589,453

2,576,215

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2025 and were signed on its behalf by:

P F J McDonnell - Director

1.	STATUTORY INFORMATION

KM Properties 2020 Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The directors have made an assessment about the company's ability to continue as a going concern and they do not consider there to be any material uncertainties. As a result they have adopted the going concern basis of accounting.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

4,350,000

NET BOOK VALUE

At 31 December 2024

4,350,000

At 31 December 2023

4,350,000

Fair value at 31 December 2024 is represented by:

£

Valuation in 2021

350,000

Cost

4,000,000

4,350,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

16,059

15,498

Other debtors

463,935

403,935

Tax

-

10,845

Prepayments and accrued income

19,265

12,009

499,259

442,287

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts (see note 8)

169,656

168,614

Trade creditors

-

13,500

Tax

1,636

-

Other creditors

236,043

147,442

Accrued expenses

11,381

3,421

418,716

332,977

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

Bank loans (see note 8)

1,768,435

1,798,185

8.

LOANS

An analysis of the maturity of loans is given below:

31.12.24

31.12.23

£

Amounts falling due within one year or on demand:

Bank loans

169,656

168,614

Amounts falling due between one and two years:

Bank loans - 1-2 years

154,883

168,614

Amounts falling due between two and five years:

Bank loans - 2-5 years

1,613,552

1,629,571

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

Bank loans

1,938,091

1,966,799

Lloyds Bank PLC has a fixed and floating charge over the following freehold property owned by the

company:-

Land adjoining Reprodux House, Norton Road, Newhaven BN9 0BZ

Further details on all charges can be found on Companies House.

10.

RESERVES

The split between non-distributable and distributable reserves are as follows:-

31.12.23

31.12.22

£

Distributable reserves

262,500

Non-distributable reserves

2,301,039

2,333,727

Total

2,563,539

2,596,227

11.	RELATED PARTY DISCLOSURES

At the year end, the company owed KSD Support Services Limited, a company linked to the directors, Ms L Baker, Mr M A Ratcliffe & Mr P F J McDonnell, £236,042 (2023: 142,841.58). This loan is interest free and repayable on demand.

At the year end, TNC Group Holdings Limited, a company linked to the directors, Ms L Baker, Mr M A Ratcliffe & Mr P F J McDonnell, owed the company £403,934 (2023: £403,934). This loan is interest free and repayable on demand.

At the year end, Utilec Properties Limited, a company linked to the directors, Ms L Baker, Mr M A Ratcliffe & Mr P F J McDonnell, owed the company £60,000. This loan is interest free and repayable on demand.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of KM Properties 2020 Ltd for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at icaew.com/membershandbook.

This report is made solely to the Board of Directors of KM Properties 2020 Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of KM Properties 2020 Ltd and state those matters that we have agreed to state to the Board of Directors of KM Properties 2020 Ltd, as a body, in this report in accordance with icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than KM Properties 2020 Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that KM Properties 2020 Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of KM Properties 2020 Ltd. You consider that KM Properties 2020 Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of KM Properties 2020 Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ashdown Hurrey

Chartered Accountants & Business Advisers

20 Havelock Road

Hastings

East Sussex

TN34 1BP

19 September 2025