0 31/01/2023 2023-01-31 false false false false false false false false false false true false false true false false false false true false false No description of principal activities is disclosed 2022-01-21 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 13863282 2022-01-21 2023-01-31 13863282 2023-01-31 13863282 core:LandBuildings core:OwnedOrFreeholdAssets 2022-01-21 2023-01-31 13863282 bus:Director1 2022-01-21 2023-01-31 13863282 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-31 13863282 core:ShareCapital 2022-01-21 2023-01-31 13863282 core:RetainedEarningsAccumulatedLosses 2022-01-21 2023-01-31 13863282 core:WithinOneYear 2023-01-31 13863282 core:ShareCapital 2023-01-31 13863282 core:RetainedEarningsAccumulatedLosses 2023-01-31 13863282 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-01-31 13863282 core:CostValuation core:Non-currentFinancialInstruments 2023-01-31 13863282 core:Non-currentFinancialInstruments 2023-01-31 13863282 bus:SmallEntities 2022-01-21 2023-01-31 13863282 bus:AuditExempt-NoAccountantsReport 2022-01-21 2023-01-31 13863282 bus:FullAccounts 2022-01-21 2023-01-31 13863282 bus:SmallCompaniesRegimeForAccounts 2022-01-21 2023-01-31 13863282 bus:PrivateLimitedCompanyLtd 2022-01-21 2023-01-31 13863282 core:AllAssociates 2022-01-21 2023-01-31
Company registration number: 13863282
KibCo Holdings Ltd
Unaudited filleted financial statements
31 January 2023
KibCo Holdings Ltd
Contents
Statement of financial position
Statement of changes in equity
Notes to the financial statements
KibCo Holdings Ltd
Statement of financial position
31 January 2023
31/01/23
Note £ £
Fixed assets
Tangible assets 4 449,241
Investments 5 168,503
_______
617,744
Current assets
Debtors 6 2,250
Cash at bank and in hand 42,535
_______
44,785
Creditors: amounts falling due
within one year 7 ( 654,741)
_______
Net current liabilities ( 609,956)
_______
Total assets less current liabilities 7,788
_______
Net assets 7,788
_______
Capital and reserves
Called up share capital 100
Profit and loss account 7,688
_______
Shareholders funds 7,788
_______
For the period 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 financial statements for the period in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 20 October 2023 , and are signed on behalf of the board by:
Mr P Kibel
Director
Company registration number: 13863282
KibCo Holdings Ltd
Statement of changes in equity
Period ended 31 January 2023
Called up share capital Profit and loss account Total
£ £ £
At 21 January 2022 - - -
Profit for the period 7,688 7,688
_______ _______ _______
Total comprehensive income for the period - 7,688 7,688
Issue of shares 100 100
_______ _______ _______
Total investments by and distributions to owners 100 - 100
_______ _______ _______
At 31 January 2023 100 7,688 7,788
_______ _______ _______
KibCo Holdings Ltd
Notes to the financial statements
Period ended 31 January 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Unit 1a Webbers Way, Dartington, Totnes, Devon, TQ9 6JY.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property - 2 % reducing balance
There is no depreciation on Land
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Tangible assets
Freehold property Total
£ £
Cost
At 21 January 2022 - -
Additions 458,062 458,062
_______ _______
At 31 January 2023 458,062 458,062
_______ _______
Depreciation
At 21 January 2022 - -
Charge for the year 8,821 8,821
_______ _______
At 31 January 2023 8,821 8,821
_______ _______
Carrying amount
At 31 January 2023 449,241 449,241
_______ _______
5. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 21 January 2022 - -
Additions 168,503 168,503
_______ _______
At 31 January 2023 168,503 168,503
_______ _______
Impairment
At 21 January 2022 and 31 January 2023 - -
_______ _______
Carrying amount
At 31 January 2023 168,503 168,503
_______ _______
6. Debtors
31/01/23
£
Trade debtors 2,000
Other debtors 250
_______
2,250
_______
7. Creditors: amounts falling due within one year
31/01/23
£
Trade creditors 92
Corporation tax 3,941
Social security and other taxes 803
Other creditors 649,905
_______
654,741
_______
8. Related party transactions
The rent income was from related parties, £19,703 Fishtek Limited and £14,777 Fishtek Marine Limited .