Kahn Landmark Limited - Filleted accounts

Registered number

03936859

Kahn Landmark Limited

Filleted Accounts

31 December 2024

Kahn Landmark Limited
Report and accounts
Contents




Page

Company information	1
Balance sheet	2
Accounting policies	3-4
Notes to the accounts	4-6
	.

Kahn Landmark Limited

Company Information

Directors

A Kahn

J Khan

Accountants

Mayden Group Ltd

Auburn House, 4th Floor

42 Upper Piccadilly

Bradford

BD1 3NU

Registered office

240 Canal Road

Bradford

BD1 4SX

Registered number

03936859

Kahn Landmark Limited
Registered number:		03936859
Balance Sheet
as at 31 December 2024
Notes			2024			2023
£				£
Fixed assets
Tangible assets	3		5,132,490			335,110
Investment properties	4		2,945,000			4,035,000
Investments	5		99			99
			8,077,589			4,370,209

Current assets
Debtors	6	4,230,940			4,486,771
Cash at bank and in hand		433,480			1,114,083
		4,664,420			5,600,854

Creditors: amounts falling due within one year	7	(7,522,109)			(5,547,067)

Net current (liabilities)/assets			(2,857,689)			53,787

Total assets less current liabilities			5,219,900			4,423,996
Other provisions			(244,944)			(244,944)
Net assets			4,974,956			4,179,052

Capital and reserves
Called up share capital	9		100			100
Profit and loss account	10		4,974,856			4,178,952

Shareholders' funds			4,974,956			4,179,052

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 member has 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.

A Kahn
Director
Approved by the board on 16 September 2025

Kahn Landmark Limited
Notes to the Accounts
for the year ended 31 December 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).

	Going concern
	The Directors have considered the going concern basis of preparation of the accounts. As disclosed in the contingent liabilities note, the Company is part of a banking group ("The Group") involving other related companies and is potentially liable for certain banking liabilities of those companies. The Group also benefits from the potential access to funds of other related companies outside of the banking group. Accordingly, the Directors have considered the going concern basis of preparation of the accounts with regard to these potential liabilities and access to other funds. Having reviewed the forecast information referred to above, the Directors are confident that the business can settle its debts as they fall due over the next 12 months. Accordingly, the Directors have concluded that no material uncertainty in relation to going concern exists and have prepared the accounts on a going concern basis.

	Turnover
	Turnover is derived from the principal activity of the Company, being rental income. Rental income is accounted for on a receivable basis, other income on an invoiced basis. Turnover is shown net of value added tax and is recognised when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.

	Tangible fixed assets
	Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
	Land & buildings			5% reducing balance
	Plant & machinery			15% reducing balance
	Fixtures & fittings			25% reducing balance
	Leasehold property			2% straight line from commencement of the lease
	Leasehold improvements			4% straight line from commencement of the lease

	Investment properties
	Investment properties are included at market fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

	Financial instruments
	Financial instruments are classified and accounted for as financial assets, financial liabilities or equity instruments according to the substance of the contractual arrangement. Equity instruments are those that entitle the holder to a residual interest in the company's assets after deducting all of its liabilities. Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

	Trade debtors
	Trade debtors are amounts due from customers for services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

	Trade creditors
	Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

	Borrowings
	Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to profit or loss over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

2	Employees								2024		2023
Number										Number
	Average number of persons employed by the company								3		3

3	Tangible fixed assets
		Leasehold Property	Leasehold improvements	Land & buildings	Plant and machinery		Fixture & fittings		Office equipment		Total
£					£	£		£		£
	Cost
	At 1 January 2024	-	-	404,656	60,670		26,645		40,109		532,080
	Additions	5,027,663	92,090	-	-		-		383		5,120,136
	Disposals	-	-	(404,656)	-		-		-		(404,656)
	At 31 December 2024	5,027,663	92,090	-	60,670		26,645		40,492		5,247,560

	Depreciation
	At 1 January 2024	-	-	84,656	52,438		20,365		39,511		196,970
	Charge for the year	-	-	-	1,154		1,402		200		2,756
	On disposals	-		(84,656)	-		-		-		(84,656)
	At 31 December 2024	-	-	-	53,592		21,767		39,711		115,070

	Net book value
	At 31 December 2024	5,027,663	92,090	-	7,078		4,878		781		5,132,490
	At 31 December 2023	-	-	320,000	8,232		6,280		598		335,110
4	Investment properties
£
	Fair value at 1 January 2024										4,035,000
	Disposal										(1,090,000)
	At 31 December 2024										2,945,000

	An independent valuation of the investment properties were undertaken in July 2022 by Eddisons Taylors, qualified surveyors. The Directors consider this to be an accurate valuation for the properties at 31 December 2024. The valuation has been based on a review of the condition, location and market factors affecting the property. Valuers have used the comparable approach in considering both rental value analysis and market sale value.

5	Investments										Subsidiary undertaking
£
	Valuation at 1 January 2024										99
	Valuation at 31 December 2024										99

6	Debtors								2024		2023
£										£

	Trade debtors								8,694		16,522
	Amounts owed by group and related undertakings								4,081,957		3,789,773
	Directors loan								2,258		354,637
	Other debtors								11,500		249,760
	Prepayments and accrued income								126,531		76,079
									4,230,940		4,486,771

7	Creditors: amounts falling due within one year								2024		2023
£										£

	Bank loans and overdrafts								1,263,247		2,349,955
	Trade creditors								192,624		87,656
	Amounts owed to group undertakings and related undertakings								4,947,953		3,041,958
	Loan from directors								1,099,509		-
	Taxation and social security costs								13,497		49,230
	Accruals			.					5,279		18,268
									7,522,109		5,547,067

8	Controlling party

	The Company is controlled by Mr A Kahn by virtue of his shareholding.

9	Exceptional income								2024		2023
£										£
	Profit on sale of properties								945,552		-

9	Called-up share capital								2024		2023
£										£
	The authorised and allotted share capital at 31 December 2024 and 31 December 2023 was:
	Equity shares
	Ordinary shares of £1 each								100		100

10	Reserves										Profit & loss account
£
	At 1 January 2024										4,178,952
	Retained profit for the financial year										795,904
	At 31 December 2024										4,974,856

11	Contingent liabilites

	The Company has provided a cross guarantee for debts owed by A Kahn Design Limited, Project Kahn Limited, Chelsea Truck Company Limited and Kensington Landmark Limited. These debts are secured by fixed and floating charges over all property, assets and rights of the Company, present and future. At 31 December 2024, the gross debt owed by these companies under the guarantee amounted to £2,080,017 The net debt of fellow group companies covered under the guarantee amounted to £816,770.

12	Other information

	Kahn Landmark Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
	240 Canal Road
	Bradford
	BD1 4SX