Silverfin false 31/12/2021 31/12/2021 18/12/2020 Mr S Cairns 18/12/2020 Mr T O'Rourke 18/12/2020 30 August 2022 The company was incorporated on 18 December 2020 and commenced trading on 1 April 2021.

The principal activity of the Company during the financial period was that of a holding company and corporate landlord for non-residential properties.
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Company No: 13090003 (England and Wales)

TB KITCHENER & CO (HOLDINGS) LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL PERIOD FROM 18 DECEMBER 2020 TO 31 DECEMBER 2021
PAGES FOR FILING WITH THE REGISTRAR

TB KITCHENER & CO (HOLDINGS) LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 18 DECEMBER 2020 TO 31 DECEMBER 2021

Contents

TB KITCHENER & CO (HOLDINGS) LTD

BALANCE SHEET

AS AT 31 DECEMBER 2021
TB KITCHENER & CO (HOLDINGS) LTD

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2021
Note 31.12.2021
£
Fixed assets
Investment property 3 619,500
Investments 4 1,142,428
1,761,928
Current assets
Debtors 5 938
Cash at bank and in hand 6 1,124
2,062
Creditors
Amounts falling due within one year 7 ( 1,756,201)
Net current liabilities (1,754,139)
Total assets less current liabilities 7,789
Net assets 7,789
Capital and reserves
Called-up share capital 8 4
Profit and loss account 7,785
Total shareholders' funds 7,789

For the financial period ending 31 December 2021 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of TB Kitchener & Co (Holdings) Ltd (registered number: 13090003) were approved and authorised for issue by the Director on 30 August 2022. They were signed on its behalf by:

Mr S Cairns
Director
TB KITCHENER & CO (HOLDINGS) LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 18 DECEMBER 2020 TO 31 DECEMBER 2021
TB KITCHENER & CO (HOLDINGS) LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 18 DECEMBER 2020 TO 31 DECEMBER 2021
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

TB Kitchener & Co (Holdings) Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O MV Commercial Limited, Watling Street, Flamstead, St. Albans, Hertfordshire, England, AL3 8HB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The financial statements have been prepared on the going concern basis as the directors considers it appropriate to do so. In coming to this conclusion, the trading subsidiary has agreed to support the company for at least twelve months following the date of approval of these accounts. In addition, the trading subsidiary, the related company and the directors will not seek repayment of their loans until all other creditors have been met.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Reporting period length

The financial statements have been prepared for the period from incorporation on 18 December 2020 to 31 December 2021. This is the company's first period of trading.

Turnover

Turnover represents amounts receivable for property rental net of VAT.

Rental income is recognised on a straight line basis over the term of the lease.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

Leases


The Company as lessor
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies, are recognised at transaction price.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

Period from
18.12.2020 to
31.12.2021
Number
Monthly average number of persons employed by the Company during the period, including directors 2

3. Investment property

Investment property
£
Valuation
As at 18 December 2020 0
Additions 619,500
As at 31 December 2021 619,500

Valuation

The fair value of the investment property is the cost of the property when purchased. The directors consider that there has been no material change in the value of the property since that date.

4. Fixed asset investments

Investments in subsidiaries

31.12.2021
£
Cost
At 18 December 2020 0
Additions 1,142,428
At 31 December 2021 1,142,428
Carrying value at 31 December 2021 1,142,428

5. Debtors

31.12.2021
£
Trade debtors 938

6. Cash and cash equivalents

31.12.2021
£
Cash at bank and in hand 1,124

7. Creditors: amounts falling due within one year

31.12.2021
£
Amounts owed to own subsidiaries 1,138,428
Other creditors 607,333
Corporation tax 7,690
Other taxation and social security 2,750
1,756,201

8. Called-up share capital

31.12.2021
£
Allotted, called-up and fully-paid
4 Ordinary shares of £ 1.00 each 4

9. Related party transactions

Transactions with entities in which the entity itself has a participating interest

31.12.2021
£
Loan from subsidiary 1,138,428

The loan is unsecured, interest free and repayable on demand.

Transactions with the entity's directors

31.12.2021
£
Loans from directors 100,000

The loans are unsecured, interest free and repayable on demand.

Other related party transactions

31.12.2021
£
Loan from connected company 500,000

The loan is unsecured, interest free and repayable on demand.