ACCOUNTS - Final Accounts preparation

KAM PROPERTIES MANAGEMENT LIMITED - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2023-07-312023-07-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2true2022-08-01falseNo description of principal activity2 05869410 2022-08-01 2023-07-31 05869410 2021-08-01 2022-07-31 05869410 2023-07-31 05869410 2022-07-31 05869410 c:Director1 2022-08-01 2023-07-31 05869410 d:CurrentFinancialInstruments 2023-07-31 05869410 d:CurrentFinancialInstruments 2022-07-31 05869410 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 05869410 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 05869410 d:ShareCapital 2023-07-31 05869410 d:ShareCapital 2022-07-31 05869410 d:RetainedEarningsAccumulatedLosses 2023-07-31 05869410 d:RetainedEarningsAccumulatedLosses 2022-07-31 05869410 c:FRS102 2022-08-01 2023-07-31 05869410 c:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 05869410 c:FullAccounts 2022-08-01 2023-07-31 05869410 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 05869410 2 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure

Registered number: 05869410

KAM PROPERTIES MANAGEMENT LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2023

KAM PROPERTIES MANAGEMENT LIMITED

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF KAM PROPERTIES MANAGEMENT LIMITED
FOR THE YEAR ENDED 31 JULY 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of KAM Properties Management Limited for the year ended 31 July 2023 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of KAM Properties Management Limited, as a body, in accordance with the terms of our engagement letter dated 15 November 2022. Our work has been undertaken solely to prepare for your approval the financial statements of KAM Properties Management Limited and state those matters that we have agreed to state to the Board of directors of KAM Properties Management Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than KAM Properties Management Limited and its Board of directors, as a body, for our work or for this report.

It is your duty to ensure that KAM Properties Management Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of KAM Properties Management Limited. You consider that KAM Properties Management Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of KAM Properties Management Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

BAGINSKY COHEN

CHARTERED ACCOUNTANTS

930 HIGH ROAD

LONDON

N12 9RT

29 September 2023

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KAM PROPERTIES MANAGEMENT LIMITED

REGISTERED NUMBER: 05869410

BALANCE SHEET

AS AT 31 JULY 2023

	2023	2023	2022	2022
Note	£	£	£	£


CURRENT ASSETS
Debtors: amounts falling due within one year	4	147		568
Cash at bank and in hand	5	48,347		35,386
		48,494		35,954
Creditors: amounts falling due within one year	6	(22,625)		(22,327)

NET ASSETS			25,869		13,627

CAPITAL AND RESERVES
Called up share capital	1	1
Profit and loss account	25,868	13,626
	25,869	13,627

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 September 2023.

R. M. BERELOWITZ

Director

The notes on pages 3 to 6 form part of these financial statements.

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KAM PROPERTIES MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

1.ACCOUNTING POLICIES

1.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 2).

The following principal accounting policies have been applied:

1.2

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

1.3

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

1.4

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

1.5

TAXATION

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

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KAM PROPERTIES MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

1.ACCOUNTING POLICIES (CONTINUED)

1.6

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

1.7

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

1.8

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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KAM PROPERTIES MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

1.ACCOUNTING POLICIES (CONTINUED)

1.9

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

2.	JUDGMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the Company's accounting policies, which are described in note 1, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from those estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods.

EMPLOYEES

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

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KAM PROPERTIES MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

DEBTORS

					2023	2022
					£	£


Prepayments and accrued income	147	568

5.	CASH AND CASH EQUIVALENTS
		2023	2022
		£	£

	Cash at bank and in hand	48,347	35,386

6.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2023	2022
		£	£

Corporation tax	2,872	2,839
Other taxation and social security	1,127	837
Accruals and deferred income	18,626	18,651
	22,625	22,327

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