Kollitom Propco 1 Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 14038533

Kollitom Propco 1 Limited

Filleted Unaudited Financial Statements

31 December 2024

Kollitom Propco 1 Limited

Financial Statements

Year ended 31 December 2024

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Kollitom Propco 1 Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	5	1,585,468	1,585,468

Current assets

Debtors	6	100	1,304
Cash at bank and in hand		9,703	12,050
		-------	--------
		9,803	13,354

Creditors: amounts falling due within one year	7	950	900
		-------	--------
Net current assets		8,853	12,454
		------------	------------
Total assets less current liabilities		1,594,321	1,597,922

Creditors: amounts falling due after more than one year	8	1,563,536	1,602,266
		------------	------------
Net assets/(liabilities)		30,785	( 4,344)
		------------	------------

Capital and reserves

Called up share capital	100	100
Profit and loss account	30,685	( 4,444)
	--------	-------
Shareholders funds/(deficit)	30,785	( 4,344)
	--------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- 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 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Kollitom Propco 1 Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 22 September 2025 , and are signed on behalf of the board by:

J Y Matallah

Director

Company registration number: 14038533

Kollitom Propco 1 Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Labs Atrium, Chalk Farm Road, London, NW1 8AH, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The accounts have been prepared on a going concern basis which relies upon the continuing support of the investors.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).

5. Tangible assets

	Investment Property
	£
Cost
At 1 January 2024 and 31 December 2024	1,585,468
	------------
Depreciation
At 1 January 2024 and 31 December 2024	–
	------------
Carrying amount
At 31 December 2024	1,585,468
	------------
At 31 December 2023	1,585,468
	------------

6. Debtors

	2024	2023
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	100	100
Other debtors	–	1,204
	----	-------
	100	1,304
	----	-------

The debtors above include the following amounts falling due after more than one year:

	2024	2023
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	100	100
	----	----

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Other creditors	950	900
	----	----

Bank loans and overdrafts are secured by way of a fixed and floating charge over the property and undertakings of the company.

8. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	951,660	951,660
Amounts owed to group undertakings and undertakings in which the company has a participating interest	611,876	650,606
	------------	------------
	1,563,536	1,602,266
	------------	------------

Bank loans and overdrafts are secured by way of a fixed and floating charge over the property and undertakings of the company.

9. Controlling party

The immediate parent company is Kollitom Midco Limited, a company registered in England & Wales. The parent company's registered address is: Labs Atrium, Chalk Farm Road, London, United Kingdom, NW1 8AH. The ultimate parent company and controlling party is Kollitom Limited , a company registered in England & Wales. The parent company's registered address is: Labs Atrium, Chalk Farm Road, London, United Kingdom, NW1 8AH .