KEME Properties Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 11592179

KEME Properties Limited

Filleted Unaudited Financial Statements

28 February 2025

KEME Properties Limited

Statement of Financial Position

28 February 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	4	160,000	160,000

Current assets

Debtors	5	138	–
Cash at bank and in hand		61	1,089
		----	-------
		199	1,089

Creditors: amounts falling due within one year	6	83,788	81,687
		--------	--------
Net current liabilities		83,589	80,598
		---------	---------
Total assets less current liabilities		76,411	79,402

Creditors: amounts falling due after more than one year	7	72,824	76,289
		--------	--------
Net assets		3,587	3,113
		--------	--------

Capital and reserves

Called up share capital	2	2
Profit and loss account	3,585	3,111
	-------	-------
Shareholders funds	3,587	3,113
	-------	-------

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 28 February 2025 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 .

KEME Properties Limited

Statement of Financial Position (continued)

28 February 2025

These financial statements were approved by the board of directors and authorised for issue on 27 November 2025 , and are signed on behalf of the board by:

Mr M E Holt

Director

Company registration number: 11592179

KEME Properties Limited

Notes to the Financial Statements

Year ended 28 February 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Mill, 9 Soar Lane, Leicester, LE3 5DE.

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for property rental services rendered. Revenue is recognised in the accounting period in which the company obtains the right to consideration in exchange for its performance.

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. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure and revalued to its fair value at each reporting date.

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

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

4. Tangible assets

	Investment property
	£
Cost
At 1 March 2024 and 28 February 2025	160,000
	---------
Depreciation
At 1 March 2024 and 28 February 2025	–
	---------
Carrying amount
At 28 February 2025	160,000
	---------
At 29 February 2024	160,000
	---------

The directors consider that the investment property is disclosed at its fair value.

5. Debtors

	2025	2024
	£	£
Other debtors	138	–
	----	----

6. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	3,305	3,097
Trade creditors	1,056	960
Corporation tax	306	801
Other creditors	79,121	76,829
	--------	--------
	83,788	81,687
	--------	--------

The bank loans and overdraft due within one year are secured by Handelsbanken plc who hold a legal charge secured on the investment property.

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

	2025	2024
	£	£
Bank loans and overdrafts	72,824	76,289
	--------	--------

The bank loans and overdraft due after more than one year are secured by Handelsbanken plc who hold a legal charge secured on the investment property.

Included within creditors: amounts falling due after more than one year is an amount of £59,603 (2024: £63,901) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

8. Directors' advances, credits and guarantees

At the balance sheet date the directors were owed £77,687(2023: £74,893) by the company.