REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 August 2023 |
for |
KHH Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 August 2023 |
for |
KHH Limited |
KHH Limited (Registered number: 05360918) |
Contents of the Financial Statements |
for the Year Ended 31 August 2023 |
Page |
Abridged Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
KHH Limited (Registered number: 05360918) |
Abridged Balance Sheet |
31 August 2023 |
31.8.23 | 31.8.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 5 | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
KHH Limited (Registered number: 05360918) |
Abridged Balance Sheet - continued |
31 August 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 director and authorised for issue on |
KHH Limited (Registered number: 05360918) |
Notes to the Financial Statements |
for the Year Ended 31 August 2023 |
1. | STATUTORY INFORMATION |
KHH Limited is a |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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. |
Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets. |
Taxation |
Taxation for the year 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. |
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 year 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 year was |
KHH Limited (Registered number: 05360918) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2023 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 September 2022 |
and 31 August 2023 |
NET BOOK VALUE |
At 31 August 2023 |
At 31 August 2022 |
Investment property comprises freehold property. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 August 2023 by the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. |
5. | PROVISIONS FOR LIABILITIES |
31.8.22 |
£ |
Deferred tax | 3,841 |
Deferred |
tax |
£ |
Balance at 1 September 2022 |
Trading losses carried forward | (11,035 | ) |
Revaluation of assets |
Balance at 31 August 2023 | ( |
) |
6. | RELATED PARTY DISCLOSURES |
Included in Creditors: amounts falling due after more than one year is an amount of £193,368 (2022: £149,515) in respect of a loan owed to the immediate parent company, Eat Work Art Limited. The loan is not expected to be repaid until such time that the company has resources available to repay the loan. |
Included in Creditors: amounts falling due after more than one year is an amount of £385 (2022: £385) in respect of a loan owed to Holetown Limited, a company within the group of companies ultimately controlled by Creative Network Partners Limited. The loan is not expected to be repaid until such time that the company has resources available to repay the loan. |
Included in Creditors: amounts falling due after more than one year is an amount of £29,057 (2022: £15,955) in respect of a loan owed to Creative Network Communications Ltd, a company within the group of companies ultimately controlled by Creative Network Partners Limited. The loan is not expected to be repaid until such time that the company has resources available to repay the loan. |
7. | ULTIMATE CONTROLLING PARTY |
The controlling party is Creative Network Partners Ltd. |