Company registration number 3618674 (England and Wales)
KEEBLE HOLDINGS LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
KEEBLE HOLDINGS LIMITED
CONTENTS
Page
Directors' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
KEEBLE HOLDINGS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
- 1 -
The directors present their annual report and financial statements for the year ended 31 December 2022.
Principal activities
The principal activity of the company continued to be that of provision of management services and accommodation to its wholly owned subsidiary.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
L G N Lodge
K Lodge
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
K Lodge
Director
30 September 2023
KEEBLE HOLDINGS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2022
31 December 2022
- 2 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
518,757
544,410
Investment property
4
1,054,161
1,054,161
Investments
5
193,340
193,340
1,766,258
1,791,911
Current assets
Debtors
6
155,056
155,433
Cash at bank and in hand
170,415
88,265
325,471
243,698
Creditors: amounts falling due within one year
7
(118,540)
(127,041)
Net current assets
206,931
116,657
Total assets less current liabilities
1,973,189
1,908,568
Creditors: amounts falling due after more than one year
8
(204,487)
(220,793)
Provisions for liabilities
(20,000)
(20,000)
Net assets
1,748,702
1,667,775
Capital and reserves
Called up share capital
13,340
13,340
Profit and loss reserves
1,735,362
1,654,435
Total equity
1,748,702
1,667,775
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
KEEBLE HOLDINGS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2022
31 December 2022
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 30 September 2023 and are signed on its behalf by:
L G N Lodge
Director
Company Registration No. 3618674
KEEBLE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
- 4 -
1
Accounting policies
Company information
Keeble Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Keeble House, 81 Island Farm Road, West Molesey, Surrey, KT8 2SA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
not provided
Motor vehicles
20% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
KEEBLE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 5 -
The fair value of investment properties amounts to £1054161 .
1.5
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities 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.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.8
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
KEEBLE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 6 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
2
2
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2022 and 31 December 2022
440,439
194,280
634,719
Depreciation and impairment
At 1 January 2022
90,309
90,309
Depreciation charged in the year
25,653
25,653
At 31 December 2022
115,962
115,962
Carrying amount
At 31 December 2022
440,439
78,318
518,757
At 31 December 2021
440,439
103,971
544,410
4
Investment property
2022
£
Fair value
At 1 January 2022 and 31 December 2022
1,054,161
5
Fixed asset investments
2022
2021
£
£
Shares in group undertakings and participating interests
193,340
193,340
KEEBLE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 7 -
6
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
56
56
Amounts owed by group undertakings
55,000
55,000
Other debtors
100,000
100,377
155,056
155,433
7
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
15,555
14,486
Amounts owed to group undertakings
50,000
50,000
Corporation tax
25,000
4,668
Other taxation and social security
20,285
466
Other creditors
7,700
57,421
118,540
127,041
8
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
204,487
220,793
9
Directors' transactions
Dividends totalling £0 (2021 - £151,182) were paid in the year in respect of shares held by the company's directors.