Kinrise (Trevelyan) Limited 13596982 false 2022-01-01 2022-12-31 2022-12-31 The principal activity of the company is property investment. Digita Accounts Production Advanced 6.30.9574.0 true true 13596982 2022-01-01 2022-12-31 13596982 2022-12-31 13596982 core:CurrentFinancialInstruments 2022-12-31 13596982 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 13596982 core:Non-currentFinancialInstruments 2022-12-31 13596982 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 13596982 bus:SmallEntities 2022-01-01 2022-12-31 13596982 bus:AuditExemptWithAccountantsReport 2022-01-01 2022-12-31 13596982 bus:FullAccounts 2022-01-01 2022-12-31 13596982 bus:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 13596982 bus:RegisteredOffice 2022-01-01 2022-12-31 13596982 bus:Director1 2022-01-01 2022-12-31 13596982 bus:Director2 2022-01-01 2022-12-31 13596982 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 13596982 countries:EnglandWales 2022-01-01 2022-12-31 13596982 2021-09-01 2021-12-31 13596982 2021-12-31 13596982 core:CurrentFinancialInstruments 2021-12-31 13596982 core:CurrentFinancialInstruments core:WithinOneYear 2021-12-31 13596982 core:Non-currentFinancialInstruments 2021-12-31 13596982 core:Non-currentFinancialInstruments core:AfterOneYear 2021-12-31 iso4217:GBP xbrli:pure

Registration number: 13596982

Kinrise (Trevelyan) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2022

 

Kinrise (Trevelyan) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Kinrise (Trevelyan) Limited

Company Information

Directors

George Aberdeen

Cecile Champy

Registered office

2 Noel Street
London
W1F 8GB

Accountants

SJ Accounts Solutions Ltd
Unit 11, Aylsham Business Park
Richard Oakes Road
Aylsham
Norfolk
NR11 6FD

 

Kinrise (Trevelyan) Limited

(Registration number: 13596982)
Balance Sheet as at 31 December 2022

Note

2022
£

2021
£

Fixed assets

 

Investment property

4

15,110,000

-

Current assets

 

Debtors

5

85,767

7,651

Cash at bank and in hand

 

300,803

1,558,419

 

386,570

1,566,070

Creditors: Amounts falling due within one year

6

(194,837)

(35,970)

Net current assets

 

191,733

1,530,100

Total assets less current liabilities

 

15,301,733

1,530,100

Creditors: Amounts falling due after more than one year

6

(13,874,051)

(1,553,120)

Net assets/(liabilities)

 

1,427,682

(23,020)

Capital and reserves

 

Called up share capital

2,000

100

Share premium reserve

4,378,000

-

Retained earnings

(2,952,318)

(23,120)

Shareholders' funds/(deficit)

 

1,427,682

(23,020)

For the financial year ending 31 December 2022 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Kinrise (Trevelyan) Limited

(Registration number: 13596982)
Balance Sheet as at 31 December 2022

Approved and authorised by the Board on 25 September 2023 and signed on its behalf by:
 

.........................................
George Aberdeen
Director

.........................................
Cecile Champy
Director

 

Kinrise (Trevelyan) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

1

General information

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

The address of its registered office is:
2 Noel Street
London
W1F 8GB

These financial statements were authorised for issue by the Board on 25 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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the rental income received or receivable from tenants. 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.

 

Kinrise (Trevelyan) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

Trade debtors

Trade debtors are amounts due from tenants for rental income due.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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 5 (2021 - 2).

 

Kinrise (Trevelyan) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

4

Investment properties

2022
£

Investment properties additions

17,156,926

Fair value adjustments

(2,046,926)

At 31 December

15,110,000

Investment property is valued at fair value being the price for which the property could be exchanged
between knowledgeable and willing parties in an arm's length transaction. The last valuation was
determined externally by JLL in December 2022.

5

Debtors

Current

Note

2022
£

2021
£

Amounts owed by related parties

-

1,556

Prepayments

 

30,742

-

Other debtors

 

55,025

6,095

 

Kinrise (Trevelyan) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

6

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Trade creditors

 

179,842

35,970

Amounts owed to group undertakings and undertakings in which the company has a participating interest

137

-

Other creditors

 

14,858

-

 

194,837

35,970

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

7

13,874,051

1,553,120

7

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Other borrowings

13,874,051

1,553,120