REGISTERED NUMBER: 03951792

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

28 FEBRUARY 2025

FOR

K & M ESTATES LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Investment property

5

1,039,999

1,390,999

CURRENT ASSETS

Debtors

6

481,898

493,940

Cash at bank

6,887

21,289

488,785

515,229

CREDITORS

Amounts falling due within one year

7

20,301

16,439

NET CURRENT ASSETS

468,484

498,790

TOTAL ASSETS LESS CURRENT LIABILITIES

1,508,483

1,889,789

CREDITORS

Amounts falling due after more than one year

8

(390,022

)

(658,451

)

PROVISIONS FOR LIABILITIES

11

(139,004

)

(244,246

)

NET ASSETS

979,457

987,092

CAPITAL AND RESERVES

Called up share capital

12

2

2

Revaluation reserve

13

604,875

732,737

Retained earnings

13

374,580

254,353

SHAREHOLDERS' FUNDS

979,457

987,092

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and Loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 November 2025 and were signed by:

Mr K Peevor - Director

1.	STATUTORY INFORMATION

K & M Estates Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address are as below:

Registered number:

03951792

Registered office:

Pharmacy Chambers

High Street

Wadhurst

East Sussex

TN5 6AP

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents the value of rents receivable.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Investment properties are shown at fair value at each reporting date with changes in value recognised in profit or loss. Having reviewed the sold prices of similar properties in the area, the director considers that the property values have not changed materially since last balance sheet date and therefore the valuation is correct.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities, like trade and other accounts receivable and payable, loans from banks and other third parties and loans to / from related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the present value of the future cash flows and subsequently measured at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted transaction price less any impairment.

If the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of the estimated cash flows discounted at the asset's original effective rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet and measured as detailed above.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Finance costs are charged to the profit and loss over the term of the financial asset / liability using the effective interest method so that the amount charged is at a constant rate on the carrying amount.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss account, 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 March 2024

1,390,999

Disposals

(117,896

)

Revaluations

(233,104

)

At 28 February 2025

1,039,999

NET BOOK VALUE

At 28 February 2025

1,039,999

At 29 February 2024

1,390,999

Fair value at 28 February 2025 is represented by:

£

Valuation in 2025

1,039,999

Investment property comprises residential properties held for their earnings and capital appreciation. The valuation is carried out by the director on an annual basis by reference to market evidence of transaction prices for similar properties.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Director's current account

359,302

371,344

Tax recoverable

122,596

122,596

481,898

493,940

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Corporation tax

18,862

12,784

Accruals and deferred income

1,439

3,655

20,301

16,439

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans (see note 9)

390,022

658,451

9.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due between two and five years:

Bank loans - 2-5 years

390,022

658,451

10.	SECURED DEBTS

Barclays Bank PLC have a fixed charge over the the properties in the company.

11.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Accelerated capital allowances

139,004

244,246

Deferred

tax

£

Balance at 1 March 2024

244,246

Provided during year

(105,242

)

Balance at 28 February 2025

139,004

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

2

Ordinary

£1

2

2

13.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 March 2024

254,353

732,737

987,090

Profit for the year

199,619

199,619

Dividends

(38,777

)

(38,777

)

Transfer

(40,615

)

(127,862

)

(168,477

)

At 28 February 2025

374,580

604,875

979,455

14.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2025 and 29 February 2024:

2025

2024

£

£

Mr K Peevor

Balance outstanding at start of year

371,344

363,247

Amounts advanced

8,129

8,097

Amounts repaid

(20,173

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

359,300

371,344

Interest is charged on the Director's current account balance at the HMRC official rate of 2.25%.