Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312false2022-04-01No description of principal activity2falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12311197 2022-04-01 2023-03-31 12311197 2021-04-01 2022-03-31 12311197 2023-03-31 12311197 2022-03-31 12311197 c:Director1 2022-04-01 2023-03-31 12311197 d:CurrentFinancialInstruments 2023-03-31 12311197 d:CurrentFinancialInstruments 2022-03-31 12311197 d:Non-currentFinancialInstruments 2023-03-31 12311197 d:Non-currentFinancialInstruments 2022-03-31 12311197 d:OtherDeferredTax 2023-03-31 12311197 d:OtherDeferredTax 2022-03-31 12311197 c:FRS102 2022-04-01 2023-03-31 12311197 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 12311197 c:FullAccounts 2022-04-01 2023-03-31 12311197 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 12311197 6 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

12311197







KINGS CAIRN INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED
31 MARCH 2023































img0fcd.png

KING'S CAIRN INVESTMENTS LIMITED
REGISTERED NUMBER:12311197

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

  

Fixed assets
  

Fixed asset investments
 4 
7,649,732
6,798,949

Current assets
  

Cash at bank and in hand
  
115,753
99,386

  
115,753
99,386

Creditors: amounts falling due within one year
 5 
(8,121,932)
(6,579,360)

Net current liabilities
  
 
 
(8,006,179)
 
 
(6,479,974)

Total assets less current liabilities
  
(356,447)
318,975

  

Creditors: amounts falling due after more than one year
 6 
(789,411)
-

  
(1,145,858)
318,975

Provisions for liabilities
  

Deferred taxation
 7 
-
(66,518)

  
 
 
-
 
 
(66,518)

  

Net (liabilities)/assets
  
(1,145,858)
252,457


Capital and reserves
  

Called up share capital 
  
500
500

Profit and loss account
  
(1,146,358)
251,957

  
(1,145,858)
252,457


Page 1

KING'S CAIRN INVESTMENTS LIMITED
REGISTERED NUMBER:12311197
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the Year in question in accordance with section 476 of the Companies Act 2006.

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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J. S. McGibbon
Director

Date: 18 October 2023

The notes on pages 3 to 6 form part of these financial statements.

Page 2

KING'S CAIRN INVESTMENTS LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

King's Cairn Investment Limited ("the Company") is a limited company domiciled and incorporated in England.
The address of the Company's registered office and principal place of business is Brockbourne House, 77 Mount Ephraim, Tunbridge Wells, TN4 8BS.  

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

Monetary amounts in these financial statements are stated in sterling and rounded to the nearest whole £1.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The accounts are being prepared on the going concern basis and the directors will not repay their loan until the company has sufficient funds to do so.

 
2.3

Revenue

Revenue 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. Revenue is measured as the fair value of the consideration received or receivable.

Revenue represents notional distributions on listed investments as in recorded in the period in which the distribution is made.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

KING'S CAIRN INVESTMENTS LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The Company only enters into basic financial instrument 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 related parties and investments in ordinary shares.

Page 4

KING'S CAIRN INVESTMENTS LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

3.


Employees

The average monthly number of employees, including the directors, during the Year was as follows:


        2023
        2022
            No.
            No.







Directors
2
2


4.


Fixed asset investments





Listed investments
Unlisted investments
Total

£
£
£



Cost or valuation


At 1 April 2022
5,949,947
849,000
6,798,947


Additions
2,146,242
212,484
2,358,726


Revaluations
(446,457)
(1,061,484)
(1,507,941)



At 31 March 2023
7,649,732
-
7,649,732





5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other creditors
8,116,652
6,574,380

Accruals and deferred income
5,280
4,980

8,121,932
6,579,360



6.


Creditors: Amounts falling due after more than five years

2023
2022
£
£

Other creditors
789,411
-


Page 5

KING'S CAIRN INVESTMENTS LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Deferred taxation




2023


£






At beginning of year
(66,518)


Charged to profit or loss
66,518



At end of year
-

The deferred taxation balance is made up as follows:

2023
2022
£
£


Fair value movement
-
(66,518)


8.


Related party transactions

At the year-end, the company owed the directors £8,906,063 (2022: £6,574,380)
Included within this figure is a loan of £789,411 held as bare trustee by the directors on behalf of their children, which is interest bearing at a rate of 2% per annum with a maturity date of 1 January 2030. This balance is included within other creditors due in more than 5 years.
The balance of the loan is interest-free, unsecured and repayable on demand. The balance is included
within other creditors falling due within one year.

 
Page 6