KFF HOLDINGS LTD |
Unaudited Financial Statements |
for the Period 15th February 2022 to 28th February 2023 |
KFF HOLDINGS LTD |
Unaudited Financial Statements |
for the Period 15th February 2022 to 28th February 2023 |
KFF HOLDINGS LTD (REGISTERED NUMBER: 13917026) |
Contents of the Financial Statements |
for the period 15th February 2022 to 28th February 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
KFF HOLDINGS LTD |
Company Information |
for the period 15th February 2022 to 28th February 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
KFF HOLDINGS LTD (REGISTERED NUMBER: 13917026) |
Balance Sheet |
28th February 2023 |
Notes | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET LIABILITIES | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 7 |
Retained earnings | ( |
) |
( |
) |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
KFF HOLDINGS LTD (REGISTERED NUMBER: 13917026) |
Balance Sheet - continued |
28th February 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
KFF HOLDINGS LTD (REGISTERED NUMBER: 13917026) |
Notes to the Financial Statements |
for the period 15th February 2022 to 28th February 2023 |
1. | STATUTORY INFORMATION |
KFF Holdings Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
Estimates and judgements are continually evaluated and are based on historical experience and other |
factors, including expectations of future events that are believed to be reasonable under the circumstances. |
The estimates and assumptions that have a high risk of causing a material adjustment to the carrying amount |
of assets and liabilities within the next financial year are: |
Investment properties are reviewed annually and are revalued in line with managements' opinion of the |
value of those properties at each balance sheet date. The revaluation is based on historical experience as |
well as considering future events which may impact the value of investment property, such as changes in |
market demands. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Financial instruments |
Debtors, creditors and directors loan (being repayable on demand) are measured at the undiscounted |
amount of cash or other consideration expected to be paid or received. |
Debtors |
Short term debtors are measured at transaction price, less any impairment. |
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. |
Creditors |
Short term creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
KFF HOLDINGS LTD (REGISTERED NUMBER: 13917026) |
Notes to the Financial Statements - continued |
for the period 15th February 2022 to 28th February 2023 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
Revaluations | 5,917 |
At 28th February 2023 |
NET BOOK VALUE |
At 28th February 2023 |
Fair value at 28th February 2023 is represented by: |
£ |
Valuation in 2023 | 5,917 |
Cost | 249,083 |
255,000 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other creditors |
Directors' current accounts | 378,300 |
Accrued expenses |
KFF HOLDINGS LTD (REGISTERED NUMBER: 13917026) |
Notes to the Financial Statements - continued |
for the period 15th February 2022 to 28th February 2023 |
7. | RESERVES |
Fair |
value |
reserve |
£ |
Property revaluation | 4,983 |
At 28th February 2023 |
8. | RELATED PARTY DISCLOSURES |
Included in creditors is an amount of £378,300 owed to the directors. |
Included in other debtors is an amount of £669 owed from Prima Property Services Ltd, a company where Mr Farrer-Newey and Ms Korrison are also directors/shareholders. |