Silverfin false 30/04/2023 01/05/2022 30/04/2023 N Kalms 29/11/2021 B Radstone 29/11/2021 20 October 2023 The principal activity of Kalmstone Investments Limited is that of the development of building projects. 13772050 2023-04-30 13772050 bus:Director1 2023-04-30 13772050 bus:Director2 2023-04-30 13772050 2022-04-30 13772050 core:CurrentFinancialInstruments 2023-04-30 13772050 core:CurrentFinancialInstruments 2022-04-30 13772050 core:ShareCapital 2023-04-30 13772050 core:ShareCapital 2022-04-30 13772050 core:RetainedEarningsAccumulatedLosses 2023-04-30 13772050 core:RetainedEarningsAccumulatedLosses 2022-04-30 13772050 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-04-30 13772050 core:RemainingRelatedParties core:CurrentFinancialInstruments 2022-04-30 13772050 bus:OrdinaryShareClass1 2023-04-30 13772050 2022-05-01 2023-04-30 13772050 bus:FullAccounts 2022-05-01 2023-04-30 13772050 bus:SmallEntities 2022-05-01 2023-04-30 13772050 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 13772050 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 13772050 bus:Director1 2022-05-01 2023-04-30 13772050 bus:Director2 2022-05-01 2023-04-30 13772050 2021-05-01 2022-04-30 13772050 core:CurrentFinancialInstruments 2022-05-01 2023-04-30 13772050 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 13772050 bus:OrdinaryShareClass1 2021-05-01 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13772050 (England and Wales)

KALMSTONE INVESTMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2023
Pages for filing with the registrar

KALMSTONE INVESTMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2023

Contents

KALMSTONE INVESTMENTS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 April 2023
KALMSTONE INVESTMENTS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 April 2023
2023 2022
£ £
Current assets
Stocks 309,074 169,260
Debtors 3 187,386 100
496,460 169,360
Creditors: amounts falling due within one year 4 ( 310,751) ( 170,772)
Net current assets/(liabilities) 185,709 (1,412)
Total assets less current liabilities 185,709 (1,412)
Net assets/(liabilities) 185,709 ( 1,412)
Capital and reserves
Called-up share capital 5 100 100
Profit and loss account 185,609 ( 1,512 )
Total shareholders' funds/(deficit) 185,709 ( 1,412)

For the financial year ending 30 April 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Kalmstone Investments Limited (registered number: 13772050) were approved and authorised for issue by the Director. They were signed on its behalf by:

N Kalms
Director
B Radstone
Director

20 October 2023

KALMSTONE INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
KALMSTONE INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Kalmstone Investments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

The principal activity of Kalmstone Investments Limited is that of the development of building projects.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover comprises revenue on sale of properties when completion of sales contracts occurs during the accounting period.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Borrowing costs

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Debtors

2023 2022
£ £
Amounts owed by related parties 187,286 0
Other debtors 100 100
187,386 100

Amounts owed by related parties are unsecured, interest-free, have no fixed date of repayment and are repayable on demand.

4. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 0 132,500
Amounts owed to related parties 0 36,772
Other loans 263,109 0
Accruals 2,700 1,500
Other taxation and social security 44,942 0
310,751 170,772

Amounts owed to related parties are unsecured, interest-free, have no fixed date of repayment and are repayable on demand.

5. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

6. Related party transactions

Included within other debtors is a balance of £187,286 (2022: £Nil) owed by companies in which the directors have an interest either as directors or participators. The balance is unsecured and interest free with no fixed repayment terms.

Included within other creditors is a balance of £Nil (2022: £36,772) owed by companies in which the directors have an interest either as directors or participators. The balance is unsecured and interest free with no fixed repayment terms.