Company registration number 13181757 (England and Wales)
Kelsa Holdings Limited
Unaudited financial statements
For the year ended 31 August 2023
Kelsa Holdings Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 3
Kelsa Holdings Limited
Statement of financial position
As at 31 August 2023
31 August 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment property
2
1,252,192
1,252,192
Investments
3
1,000
1,000
1,253,192
1,253,192
Current assets
Debtors
4
688,722
13,087
Creditors: amounts falling due within one year
5
(18,490)
(12,403)
Net current assets
670,232
684
Net assets
1,923,424
1,253,876
Capital and reserves
Called up share capital
2,000
1,000
Profit and loss reserves
1,921,424
1,252,876
Total equity
1,923,424
1,253,876
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 15 February 2024 and are signed on its behalf by:
Mrs A Longdon
Director
Company Registration No. 13181757
Kelsa Holdings Limited
Notes to the financial statements
For the year ended 31 August 2023
- 2 -
1
Accounting policies
Company information
Kelsa Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bowden Hay Mill, Bowden Lane, Chapel-en-le-Frith, High Peak, Derbyshire, England, SK23 0JQ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
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.
1.2
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.3
Fixed asset investments
Investments in subsidiary undertakings are recognised at cost.
1.4
Financial instruments
Basic financial assets and liabilities are initially measured at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future cash flows discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
1.5
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Kelsa Holdings Limited
Notes to the financial statements (continued)
For the year ended 31 August 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
2
Investment property
2023
£
Fair value
At 1 September 2022 and 31 August 2023
1,252,192
3
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
1,000
1,000
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
688,722
13,087
5
Creditors: amounts falling due within one year
2023
2022
£
£
Taxation and social security
18,490
12,403