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REGISTERED NUMBER: 05517199 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Kelgray Holdings Limited

Kelgray Holdings Limited (Registered number: 05517199)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Kelgray Holdings Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: K Smith
T Smith
A R Smith
D W Smith
D J Smith





REGISTERED OFFICE: Kelgray House
Spindle Way
Crawley
West Sussex
RH10 1TH





REGISTERED NUMBER: 05517199 (England and Wales)





ACCOUNTANTS: Warren House Accountants Limited
4 The Courtyard
Holmsted Farm
Staplefield Road
Haywards Heath
RH17 5JF

Kelgray Holdings Limited (Registered number: 05517199)

Statement of Financial Position
31 March 2023

31.3.23 31.3.22
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,870,000 1,075,499
Investments 5 1,000,000 1,000,000
2,870,000 2,075,499

CURRENT ASSETS
Debtors 6 203 1,464
Investments 7 715,501 150,000
Cash at bank 242,270 776,987
957,974 928,451
CREDITORS
Amounts falling due within one year 8 247,486 151,858
NET CURRENT ASSETS 710,488 776,593
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,580,488

2,852,092

PROVISIONS FOR LIABILITIES 198,625 -
NET ASSETS 3,381,863 2,852,092

CAPITAL AND RESERVES
Called up share capital 9 1,500,000 1,500,000
Fair value reserve 870,456 274,580
Retained earnings 1,011,407 1,077,512
SHAREHOLDERS' FUNDS 3,381,863 2,852,092

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

Kelgray Holdings Limited (Registered number: 05517199)

Statement of Financial Position - continued
31 March 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 September 2023 and were signed on its behalf by:





T Smith - Director


Kelgray Holdings Limited (Registered number: 05517199)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Kelgray Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold properties are included in the balance sheet at their open market value and are not depreciated.

The directors undertook an impairment review in respect of the carrying value of the freehold property property and do not consider that any depreciation or reduction in its carrying value is necessary.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

Kelgray Holdings Limited (Registered number: 05517199)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST OR VALUATION
At 1 April 2022 1,075,499
Revaluations 794,501
At 31 March 2023 1,870,000
NET BOOK VALUE
At 31 March 2023 1,870,000
At 31 March 2022 1,075,499

Cost or valuation at 31 March 2023 is represented by:

Freehold
property
£   
Valuation in 2022 794,501
Cost 1,075,499
1,870,000

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2022
and 31 March 2023 1,000,000
NET BOOK VALUE
At 31 March 2023 1,000,000
At 31 March 2022 1,000,000

All investments in group companies are stated at cost. The directors undertook a diminution review in respect of the valuation of the group investments and do not consider that any provision or reduction in their value, as stated, is necessary.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
as restated
£    £   
Other debtors 203 1,464

Kelgray Holdings Limited (Registered number: 05517199)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. CURRENT ASSET INVESTMENTS
31.3.23 31.3.22
as restated
£    £   
Bank term deposits 715,501 150,000

The above represents cash in term deposits.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
as restated
£    £   
Amounts owed to group undertakings 231,326 151,615
Taxation and social security 16,160 243
247,486 151,858

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: as restated
£    £   
1,000,000 Ordinary 1 1,000,000 1,000,000
500,000 Ordinary B 1 500,000 500,000
1,500,000 1,500,000

In accordance with the Articles of Association each ordinary share and ordinary B share provides the:
- right to receive all approved dividend distributions attaching to the class, entitlement to vote
- each share held being entitled to one vote, and
- participation in any distribution of surplus capital on a winding up of the company.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are Mr K Smith and Mr T Smith.