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Registration number: 11142410

Tom Kerridge London Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2023

 

Tom Kerridge London Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Tom Kerridge London Ltd

Company Information

Directors

Mr T Kerridge

Mrs B Cullen-Kerridge

Registered office

The Mill Pury Hill Business Park
Alderton Road
Towcester
Northants
NN12 7LS

Accountants

KRW Accountants Ltd
The Mill
Pury Hill Business Park
Alderton Road
Towcester
NN12 7LS

 

Tom Kerridge London Ltd

(Registration number: 11142410)
Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

2,610,602

-

Current assets

 

Debtors

5

47,815

-

Cash at bank and in hand

 

2,792

100

 

50,607

100

Creditors: Amounts falling due within one year

6

(935,631)

-

Net current (liabilities)/assets

 

(885,024)

100

Total assets less current liabilities

 

1,725,578

100

Creditors: Amounts falling due after more than one year

6

(1,725,630)

-

Net (liabilities)/assets

 

(52)

100

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(152)

-

Shareholders' (deficit)/funds

 

(52)

100

For the financial year ending 31 January 2023 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 29 September 2023 and signed on its behalf by:
 

.........................................
Mrs B Cullen-Kerridge
Director

 

Tom Kerridge London Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
The Mill Pury Hill Business Park
Alderton Road
Towcester
Northants
NN12 7LS
United Kingdom

These financial statements were authorised for issue by the Board on 29 September 2023.

The company registration number is 11142410

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis as the Directors have agreed to support the company for a period of 12 months post the date of signing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Tom Kerridge London Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. The company subsequently considers the recoverable value of the trade debtors. When assessing impairment of trade debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Investment properties

2023
£

Additions

2,610,602

At 31 January

2,610,602

There has been no valuation of investment property by an independent valuer.

 

Tom Kerridge London Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

5

Debtors

Current

2023
£

2022
£

Other debtors

47,815

-

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

114,116

-

Trade creditors

 

29

-

Accruals and deferred income

 

18,760

-

Other creditors

 

802,726

-

 

935,631

-

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

1,725,630

-

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         
 

Tom Kerridge London Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

1,725,630

-

2023
£

2022
£

Current loans and borrowings

Bank borrowings

114,116

-

9

Related party transactions

Other transactions with directors

At the year end, the Directors owed the company £95, which is repayable within 9 months of the balance sheet date.

Summary of transactions with all associates

Tom Kerridge Consultancy Limited
During the year Tom Kerridge London Limited was loaned £225,000 byTom Kerridge Consultancy Limited, a company under common control, to fund the purchase of a property. Tom Kerridge London Limited loaned £12,288 to Tom Kerridge Consultancy Limited during the year.
At the balance sheet date, Tom Kerridge Consultancy Limited was owed £212,862 by Tom Kerridge London Limited.

Tom Kerridge Media Limited
During the year Tom Kerridge London Limited was loaned £175,000 byTom Kerridge Media Limited , a company under common control, to fund the purchase of a property.
At the balance sheet date, Tom Kerridge London Limited owed £175,000 toTom Kerridge Media Limited.

The Coach (Marlow) Limited
During the year Tom Kerridge London Limited was loaned £296,100.90 byThe Coach (Marlow) Limited, a company under common control, to fund the purchase of a property. Tom Kerridge London Limited invoiced The Coach (Marlow) Limited for rental expenses of £8,000.
At the balance sheet date, The Coach (Marlow) Limited was owed £286,500.90 by Tom Kerridge London Limited.

The Butcher's Tap & Grill Limited
The Butcher's Tap & Grill Limited, a company under common control, loaned £14,000 to Tom Kerridge London Limited in the year.
At the balance sheet date, Tom Kerridge London Limited owed £14,000 to The Butcher's Tap & Grill Limited.

Hand and Flowers Limited
During the year Tom Kerridge London Limited was loaned £114,364.10 by Hand and Flowers Limited, a company under common control, to fund the purchase of a property.
At the balance sheet date, Tom Kerridge London Limited owed £114,364.10 to Hand and Flowers Limited.