KJPILLAY LIMITED


Director	K J Pillay


Company Secretary	A L Loveland


Registered Address	97 Bodycoats Road
	Chandler's Ford
	Eastleigh
	SO53 2NP


Registered Number	14260542 (England and Wales)

Notes to the Financial Statements
for the year ended 5 April 2026

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	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).

	Functional and presentation currency
	Items included in the financial statements are measured using the currency of the primary economic environment in which the company operates (the "functional currency"). The financial statements are presented in pounds sterling (£), which is the company’s functional and presentation currency.

	Going concern
	After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Revenue from rendering of services
	Revenue comprises the fair value of consideration received or receivable, excluding value added tax and net of discounts. Revenue is recognised when the company obtains the right to consideration in accordance with the terms of the signed tenancy agreements. Accrued income represents revenue that has been earned but not yet invoiced or received at the reporting date. Deferred income represents amounts received in advance of the period to which they relate and is recognised as revenue when earned.

Revenue from rendering of services

Revenue comprises the fair value of consideration received or receivable, excluding value added tax and net of discounts. Revenue is recognised when the company obtains the right to consideration in accordance with the terms of the signed tenancy agreements.

Accrued income represents revenue that has been earned but not yet invoiced or received at the reporting date. Deferred income represents amounts received in advance of the period to which they relate and is recognised as revenue when earned.

	Interest income
	Interest receivable relates to interest earned on savings accounts held with banks. It is recognised on a cash basis, at the amount received into the bank account, due to the immaterial nature of the income.

	Finance costs
	Interest payable relates to charges incurred on debt financing, including mortgages. It includes both the interest expense arising on the debt and the amortisation of any deferred finance costs, such as product fees and legal costs directly attributable to obtaining the financing. Interest is recognised in the profit and loss account on an accruals basis over the term of the loan. Although the company does not apply the effective interest rate method in full, the combined recognition of interest and amortised finance costs within a single line in the profit and loss, being "Interest payable and similar charges", results in a treatment that is not materially different and reflects the economic substance of the financing arrangement.

Finance costs

Interest payable relates to charges incurred on debt financing, including mortgages. It includes both the interest expense arising on the debt and the amortisation of any deferred finance costs, such as product fees and legal costs directly attributable to obtaining the financing.

Interest is recognised in the profit and loss account on an accruals basis over the term of the loan. Although the company does not apply the effective interest rate method in full, the combined recognition of interest and amortised finance costs within a single line in the profit and loss, being "Interest payable and similar charges", results in a treatment that is not materially different and reflects the economic substance of the financing arrangement.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	Current tax is recognised for the amount of income tax payable (or receivable) in respect of taxable profit for the current or prior reporting periods. This is based on the tax rates and laws that have been enacted or substantively enacted by the reporting date. Tax is recognised in the profit and loss account, or equity, depending on the nature of the transaction that gave rise to the tax.

	Deferred tax
	Deferred tax is recognised on temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amount used for tax purposes. The amount recognised are based on tax rates and laws that have been enacted or substantively enacted by the reporting date, and are expected to apply when the related deferred tax asset is realised or the deferred tax liability is settled. Deferred tax assets are recognised to the extent that it is probable that they will be recovered, either against future taxable profits or deferred tax liabilities. Tax is recognised in the profit and loss account, or equity, depending on the nature of the transaction that gave rise to the tax.

Deferred tax

Deferred tax is recognised on temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amount used for tax purposes. The amount recognised are based on tax rates and laws that have been enacted or substantively enacted by the reporting date, and are expected to apply when the related deferred tax asset is realised or the deferred tax liability is settled.

Deferred tax assets are recognised to the extent that it is probable that they will be recovered, either against future taxable profits or deferred tax liabilities. Tax is recognised in the profit and loss account, or equity, depending on the nature of the transaction that gave rise to the tax.

	Investment property
	The company owns residential property held for capital appreciation and to earn long-term rental income. Investment property is accounted for in accordance with FRS 102 Section 16 (Investment Property). Investment property is initially recognised at cost, which includes the purchase price and any directly attributable transaction costs, such as stamp duty and legal fees. Capital expenditure that improves or enhances the value of the investment property is subsequently capitalised. Investment properties are remeasured to fair value at the end of each financial year, with any fair value gains or losses recognised in the profit or loss for the year. The fair value of investment property is determined using an open market valuation, based on the property's existing use. Accumulated fair value gains or losses, net of associated deferred tax, are transferred to a separate reserve within equity to reflect the unrealised nature of these gains or losses.

Investment property

The company owns residential property held for capital appreciation and to earn long-term rental income. Investment property is accounted for in accordance with FRS 102 Section 16 (Investment Property). Investment property is initially recognised at cost, which includes the purchase price and any directly attributable transaction costs, such as stamp duty and legal fees. Capital expenditure that improves or enhances the value of the investment property is subsequently capitalised.

Investment properties are remeasured to fair value at the end of each financial year, with any fair value gains or losses recognised in the profit or loss for the year. The fair value of investment property is determined using an open market valuation, based on the property's existing use. Accumulated fair value gains or losses, net of associated deferred tax, are transferred to a separate reserve within equity to reflect the unrealised nature of these gains or losses.

	Trade and other debtors
	Trade debtors are initially recognised at the transaction price. Subsequently, they are measured at amortised cost, less any provision for impairment. A provision for impairment of trade debtors is recognised 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. The amount of the provision is the difference between the carrying amount of the asset and the present value of estimated future cash flows. All movements in the level of the provision are recognised in the profit and loss. Prepayments relate to expenses paid in advance of the benefit being incurred. Prepayments are recognised at the transaction price and are expensed in the period to which they relate. Accrued income represents revenue that has been earned but not yet received. Revenue is recognised in line with the company’s revenue accounting policy.

Trade and other debtors

Trade debtors are initially recognised at the transaction price. Subsequently, they are measured at amortised cost, less any provision for impairment. A provision for impairment of trade debtors is recognised 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. The amount of the provision is the difference between the carrying amount of the asset and the present value of estimated future cash flows. All movements in the level of the provision are recognised in the profit and loss.

Prepayments relate to expenses paid in advance of the benefit being incurred. Prepayments are recognised at the transaction price and are expensed in the period to which they relate. Accrued income represents revenue that has been earned but not yet received. Revenue is recognised in line with the company’s revenue accounting policy.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.

	Trade and other creditors
	Short-term creditors are initially recognised at transaction price, which is typically the invoice price. Accruals represent expenses that have been incurred but not yet paid or invoiced. An estimate is made for the expected cost to be incurred. Deferred income represents revenue that has been received but not yet earned. Revenue is recognised in line with the company's revenue recognition policy. Loans and other financial liabilities, including mortgage borrowings, are initially recognised at the amount contractually payable under the loan agreement. This includes the principal and, where applicable, any product fees or transaction costs that are added to the loan balance. Product fees and other transaction costs are recognised as a prepayment (asset) and amortised on a straight-line basis over the term of the loan. This treatment applies consistently whether the fees are added to the loan, deducted from the cash advance, or paid separately in cash. The approach approximates the effective interest rate method and is considered not materially different in the context of the company’s financial statements. As the company pays interest only the contractual liability payable remains unchanged over the loan term, the liability is held at its original amount throughout, with interest charged to the profit and loss account on an accruals basis. This method ensures that the carrying amount of the liability in the financial statements always reflects the actual amount contractually payable under the mortgage agreement, providing a true and fair view of the company’s financial position. Loans are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least 12 months after the reporting date, in which case they are classified as non-current liabilities.

Trade and other creditors

Short-term creditors are initially recognised at transaction price, which is typically the invoice price.

Accruals represent expenses that have been incurred but not yet paid or invoiced. An estimate is made for the expected cost to be incurred. Deferred income represents revenue that has been received but not yet earned. Revenue is recognised in line with the company's revenue recognition policy.

Loans and other financial liabilities, including mortgage borrowings, are initially recognised at the amount contractually payable under the loan agreement. This includes the principal and, where applicable, any product fees or transaction costs that are added to the loan balance. Product fees and other transaction costs are recognised as a prepayment (asset) and amortised on a straight-line basis over the term of the loan. This treatment applies consistently whether the fees are added to the loan, deducted from the cash advance, or paid separately in cash. The approach approximates the effective interest rate method and is considered not materially different in the context of the company’s financial statements. As the company pays interest only the contractual liability payable remains unchanged over the loan term, the liability is held at its original amount throughout, with interest charged to the profit and loss account on an accruals basis. This method ensures that the carrying amount of the liability in the financial statements always reflects the actual amount contractually payable under the mortgage agreement, providing a true and fair view of the company’s financial position. Loans are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least 12 months after the reporting date, in which case they are classified as non-current liabilities.

	Share capital
	Ordinary shares are classified as equity. These are recorded at the historical transaction price attributable to the shares when issued.

	Related parties
	For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.

2.	Staff Costs
	No remuneration was paid to employees during the current or prior year.

3.	Average number of employees


		2026		2025
	Average number of employees during the year	2		2

4.	Deferred tax
	The deferred tax balance represents a net position comprising both deferred tax assets and liabilities. It arises primarily from unrealised fair value gains and losses on investment property, as well as brought forward tax losses that are expected to be available for offset against future taxable profits. The deferred tax balance at year end is a liability of £1,999 (2025: liability of £2,423). The movement between the years represents £1,869 of deferred tax liability recognised on the fair value gain on investment property, as well as an increase of £2,293 in the deferred tax asset being historical losses accumulated to offset against future profits. The year end deferred tax balance represents an asset of £2,971 (2025: £678) in relation to historical losses to be offset against future profits. As well as a liability of £4,970 (2025: £3,101) in relation to fair value movements in investment property.

Deferred tax

The deferred tax balance represents a net position comprising both deferred tax assets and liabilities. It arises primarily from unrealised fair value gains and losses on investment property, as well as brought forward tax losses that are expected to be available for offset against future taxable profits.

The deferred tax balance at year end is a liability of £1,999 (2025: liability of £2,423). The movement between the years represents £1,869 of deferred tax liability recognised on the fair value gain on investment property, as well as an increase of £2,293 in the deferred tax asset being historical losses accumulated to offset against future profits.

The year end deferred tax balance represents an asset of £2,971 (2025: £678) in relation to historical losses to be offset against future profits. As well as a liability of £4,970 (2025: £3,101) in relation to fair value movements in investment property.

5.	Investment property
	The company holds investment property which has been valued at the reporting date using online valuation tools. This valuation reflects an open market value, based on the property's existing use. At the year end, the carrying amount of investment property is £680,163. The fair value of investment property is £690,000, resulting in a cumulative fair value gain of £9,837. The total accumulated gain has been recognised and transferred, net of deferred tax (£7,968), to a non-distributable reserve within equity titled “Other reserve”. The below table represents the movement in investment property between the prior year and current year.

Investment property

The company holds investment property which has been valued at the reporting date using online valuation tools. This valuation reflects an open market value, based on the property's existing use. 

At the year end, the carrying amount of investment property is £680,163. The fair value of investment property is £690,000, resulting in a cumulative fair value gain of £9,837. The total accumulated gain has been recognised and transferred, net of deferred tax (£7,968), to a non-distributable reserve within equity titled “Other reserve”.

The below table represents the movement in investment property between the prior year and current year.


		£
	Fair value at 06 April 25	545,000
	Additions	135,163
	Fair value adjustments	9,837
	At 05 April 26	690,000

6.	Creditors: amounts due within one year

	2026	2025
	£	£
Other creditors	174,693	172,589
Accrued liabilities and deferred income	4,219	2,217
Total	178,912	174,806


	The "Other creditors" balance relates to amounts owed to the Director - please see the "Related party transactions" note for further details.

7.	Creditors: amounts due after one year

	2026	2025
	£	£
Bank borrowings and overdrafts	521,230	368,363
Total	521,230	368,363

8.	Provisions for liabilities
	The deferred tax balance comprises both a deferred tax asset and a deferred tax liability. The deferred tax asset arises primarily from the availability of tax losses accumulated in prior periods, while the deferred tax liability mainly relates to fair value gains recognised on investment property. The deferred tax balances have been offset on a net basis, resulting in an overall deferred tax liability. Accordingly, the net deferred tax balance is presented as a provision.

Provisions for liabilities

The deferred tax balance comprises both a deferred tax asset and a deferred tax liability. The deferred tax asset arises primarily from the availability of tax losses accumulated in prior periods, while the deferred tax liability mainly relates to fair value gains recognised on investment property.

The deferred tax balances have been offset on a net basis, resulting in an overall deferred tax liability. Accordingly, the net deferred tax balance is presented as a provision.

	2026	2025
	£	£
Net deferred tax liability (asset)	1,999	2,423
Total	1,999	2,423

9.	Share capital
	At the balance sheet date, the company had 1,000 ordinary shares of £0.01 each in issue, all of which were fully paid, resulting in a total share capital of £10. There were no changes to the share capital during the year. These shares have been in issue since incorporation. All ordinary shares carry equal rights with respect to voting, dividends, and the distribution of assets upon winding up.

10.	Related party transactions
	The Director is considered a related party by virtue of their control over the company. All transactions were conducted on an informal basis, with no formal agreement in place. The loan is unsecured, interest-free, and repayable on demand. During the year, the following transactions took place between the company and the Director: - The Director personally paid £12,739 of company expenses, increasing the loan balance - The company paid £10,635 in repayments to the Director, decreasing the loan balance At the balance sheet date, the amount owed to the Director was £174,693 (2025: £172,589). This balance is included within creditors under the line item "Other creditors".

10.

Related party transactions

The Director is considered a related party by virtue of their control over the company. All transactions were conducted on an informal basis, with no formal agreement in place. The loan is unsecured, interest-free, and repayable on demand.

During the year, the following transactions took place between the company and the Director:
- The Director personally paid £12,739 of company expenses, increasing the loan balance
- The company paid £10,635 in repayments to the Director, decreasing the loan balance

At the balance sheet date, the amount owed to the Director was £174,693 (2025: £172,589). This balance is included within creditors under the line item "Other creditors".

11.	Change in reporting period and impact on comparability
	During the year, the presentation of certain property‑related expenses has been reviewed. Ground rent and service charge costs, previously presented within cost of sales, are now included within administrative expenses, as the directors consider this presentation to more appropriately reflect the nature of these costs. As a result, in the comparative figures for 2025, amounts totalling £2,471 previously included within cost of sales have been reclassified to administrative expenses. Cost of sales for the comparative period has therefore reduced from £2,471 to £nil, and administrative expenses have increased from £215 to £2,686. This reclassification affects the comparability of expense categories between periods but has no impact on profit for the year or on equity.

11.

Change in reporting period and impact on comparability

During the year, the presentation of certain property‑related expenses has been reviewed. Ground rent and service charge costs, previously presented within cost of sales, are now included within administrative expenses, as the directors consider this presentation to more appropriately reflect the nature of these costs.

As a result, in the comparative figures for 2025, amounts totalling £2,471 previously included within cost of sales have been reclassified to administrative expenses. Cost of sales for the comparative period has therefore reduced from £2,471 to £nil, and administrative expenses have increased from £215 to £2,686.

This reclassification affects the comparability of expense categories between periods but has no impact on profit for the year or on equity.

	Notes	2026		2025
		£	£	£	£
Fixed assets
Investment property	5		690,000		545,000
			690,000		545,000
Current assets
Debtors		17,801		10,385
Cash at bank and on hand		2,871		547
		20,672		10,932
Creditors amounts falling due within one year	6	(178,912)		(174,806)
Net current assets (liabilities)			(158,240)		(163,874)
Total assets less current liabilities			531,760		381,126
Creditors amounts falling due after one year	7		(521,230)		(368,363)
Provisions for liabilities	8		(1,999)		(2,423)
Net assets			8,531		10,340
Capital and reserves
Called up share capital			10		10
Other reserves			21,187		13,219
Profit and loss account			(12,666)		(2,889)
Shareholders' funds			8,531		10,340