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Company registration number: 10767714
Kyra Holdings Limited
Unaudited filleted financial statements
31 March 2023
Kyra Holdings Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Kyra Holdings Limited
Directors and other information
Director Mr G Pashley
Company number 10767714
Registered office Lower End
Bubbenhall
Coventry
Warwickshire
CV8 3BW
Kyra Holdings Limited
Statement of financial position
31 March 2023
2023 2022
Note £ £ £ £
Current assets
Debtors 4 100 100
Investments 5 648,385 4,173,496
Cash at bank and in hand 2,342 21,468
_______ _______
650,827 4,195,064
Creditors: amounts falling due
within one year 6 ( 608,484) ( 4,102,336)
_______ _______
Net current assets 42,343 92,728
_______ _______
Total assets less current liabilities 42,343 92,728
Provisions for liabilities - ( 18,774)
_______ _______
Net assets 42,343 73,954
_______ _______
Capital and reserves
Called up share capital 100 100
Fair value reserve 3,907 98,809
Profit and loss account 38,336 ( 24,955)
_______ _______
Shareholders funds 42,343 73,954
_______ _______
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 19 June 2023 , and are signed on behalf of the board by:
Mr G Pashley
Director
Company registration number: 10767714
Kyra Holdings Limited
Statement of changes in equity
Year ended 31 March 2023
Called up share capital Fair value reserve Profit and loss account Total
£ £ £ £
At 1 April 2021 100 - 1,876 1,976
Profit/(loss) for the year ( 26,831) ( 26,831)
Other comprehensive income for the year:
User defined other comprehensive income movement 1 - 98,809 - 98,809
_______ _______ _______ _______
Total comprehensive income for the year - 98,809 ( 26,831) 71,978
_______ _______ _______ _______
At 31 March 2022 and 1 April 2022 100 98,809 ( 24,955) 73,954
Profit/(loss) for the year 63,291 63,291
Other comprehensive income for the year:
User defined other comprehensive income movement 1 - ( 94,902) - ( 94,902)
_______ _______ _______ _______
Total comprehensive income for the year - ( 94,902) 63,291 ( 31,611)
_______ _______ _______ _______
At 31 March 2023 100 3,907 38,336 42,343
_______ _______ _______ _______
Kyra Holdings Limited
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is The Manor House, Lower End, Bubbenhall, Coventry, Warwickshire, CV8 3BW.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Debtors
2023 2022
£ £
Other debtors 100 100
_______ _______
5. Investments
2023 2022
£ £
Tilney portfolio investments 648,385 4,173,496
_______ _______
6. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 8,134 1,502,036
Other creditors 600,350 2,600,300
_______ _______
608,484 4,102,336
_______ _______
7. Financial instruments
The carrying amount for each category of financial instrument is as follows:
2023 2022
£ £
Financial assets measured at fair value through profit or loss
Investments 648,385 4,173,496
_______ _______
Financial assets that are debt instruments measured at amortised cost
Cash at bank and in hand 2,325 21,468
_______ _______
Financial liabilities measured at amortised cost
Bank and other loans 8,134 1,502,036
_______ _______
8. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Mr G Pashley ( 100,300) ( 50) ( 100,350)
_______ _______ _______
2022
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Mr G Pashley ( 100,200) ( 100) ( 100,300)
_______ _______ _______