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Registration number: 09462215

K and E Holdings Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

K and E Holdings Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 8

 

K and E Holdings Ltd

Company Information

Directors

Mrs K L Williams

Mr A Dangerfield

Mr W Dangerfield

Registered office

Kyne View
Amerton
Stafford
ST18 0LA

Accountants

Coates and Partners Limited
The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP

 

K and E Holdings Ltd

(Registration number: 09462215)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

3,200,000

3,200,000

Current assets

 

Cash at bank and in hand

 

58,719

2,427

Creditors: Amounts falling due within one year

6

(112,437)

(161,002)

Net current liabilities

 

(53,718)

(158,575)

Total assets less current liabilities

 

3,146,282

3,041,425

Creditors: Amounts falling due after more than one year

6

(1,324,186)

(1,384,324)

Provisions for liabilities

(213,500)

(162,295)

Net assets

 

1,608,596

1,494,806

Capital and reserves

 

Allotted, called up and fully paid share capital

100

100

Other reserves

640,684

691,889

Profit and loss account

967,812

802,817

 

1,608,596

1,494,806

Total equity

 

1,608,596

1,494,806

 

K and E Holdings Ltd

(Registration number: 09462215)
Balance Sheet as at 28 February 2023 (continued)

For the financial year ending 28 February 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 and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland'.

Approved and authorised by the Board on 13 September 2023 and signed on its behalf by:
 

.........................................
Mrs K L Williams
Director

.........................................
Mr A Dangerfield
Director

 
     
 

K and E Holdings Ltd

Notes to the Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital incorporated in England and Wales registration number: 09462215.

The address of its registered office is:
Kyne View
Amerton
Stafford
ST18 0LA
United Kingdom

These financial statements were authorised for issue by the Board on 13 September 2023.

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.

The presentation currency is £ sterling.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown gross of sales, 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.

 

K and E Holdings Ltd

Notes to the Financial Statements for the Year Ended 28 February 2023 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

Investment property

Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

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.

3

Staff numbers

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

 

K and E Holdings Ltd

Notes to the Financial Statements for the Year Ended 28 February 2023 (continued)

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 March 2022

3,200,000

3,200,000

At 28 February 2023

3,200,000

3,200,000

Depreciation

Carrying amount

At 28 February 2023

3,200,000

3,200,000

At 28 February 2022

3,200,000

3,200,000

Included within the net book value of land and buildings above is £3,200,000 (2022 - £3,200,000) in respect of freehold land and buildings.
 

5

Investment properties

The investment properties class of fixed assets was revalued on 28 February 2023 by Mrs K L Williams, a director who is internal to the company. The property was valued on the basis of open market value by the director.

There has been no movement on the valuation of the investment properties for the 12 month period ending 28 February 2023.

 

K and E Holdings Ltd

Notes to the Financial Statements for the Year Ended 28 February 2023 (continued)

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

50,000

100,000

Taxation and social security

 

38,702

36,110

Accruals and deferred income

 

23,735

24,892

 

112,437

161,002

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

284,800

534,800

Other creditors

 

1,039,386

849,524

 

1,324,186

1,384,324

2023
£

2022
£

Due after more than five years

After more than five years not by instalments

44,800

144,800

-

-

Creditors include loans which are secured, by way of fixed charge on the property, of £290,000 (2022 - £590,000).

 

K and E Holdings Ltd

Notes to the Financial Statements for the Year Ended 28 February 2023 (continued)

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

284,800

534,800

Included in the loans and borrowings are the following amounts due after more than five years:

Other loans after five years

Other loans payable after 5 years amounts to £44,800, there are no formal terms of repayment and interest is payable by the company at a market rate.