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REGISTERED NUMBER: 03816356 (England and Wales)
























Financial Statements

for the Year Ended 31 July 2023

for

Kevin Kirby Limited

Kevin Kirby Limited (Registered number: 03816356)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Kevin Kirby Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: K M Kirby
Mrs E A Kirby





SECRETARY: Mrs E A Kirby





REGISTERED OFFICE: 140 Rayne Road
Braintree
Essex
CM7 2QR





BUSINESS ADDRESS: Bodsey Tollhouse
Bodsey Toll Road
Ramsey
Huntingdon
Cambridgeshire
PE26 2XH





REGISTERED NUMBER: 03816356 (England and Wales)





ACCOUNTANTS: Baverstocks Group Limited
140 Rayne Road
Braintree
Essex
CM7 2QR

Kevin Kirby Limited (Registered number: 03816356)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 909,836 781,658
Investment property 5 888,033 840,633
1,797,869 1,622,291

CURRENT ASSETS
Stocks 376,550 255,350
Debtors 6 74,044 272,139
Cash at bank 55,289 201,739
505,883 729,228
CREDITORS
Amounts falling due within one year 7 766,803 817,944
NET CURRENT LIABILITIES (260,920 ) (88,716 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,536,949

1,533,575

CREDITORS
Amounts falling due after more than one
year

8

(240,747

)

(407,261

)

PROVISIONS FOR LIABILITIES (163,558 ) (101,491 )
NET ASSETS 1,132,644 1,024,823

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 10 59,868 59,868
Retained earnings 1,072,676 964,855
SHAREHOLDERS' FUNDS 1,132,644 1,024,823

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

Kevin Kirby Limited (Registered number: 03816356)

Balance Sheet - continued
31 July 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 April 2024 and were signed on its behalf by:





K M Kirby - Director


Kevin Kirby Limited (Registered number: 03816356)

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

1. STATUTORY INFORMATION

Kevin Kirby 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.

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.

Turnover
Turnover represents invoiced hirings and sales excluding value added tax as appropriate.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Agricultural machinery - 25% on reducing balance and 20% on reducing balance
Plant & machinery - 25% on reducing balance
Hospitality assets & cabin - see note below
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Kevin Kirby Limited (Registered number: 03816356)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Revaluation of tangible fixed assets
The investment property is carried at fair value at the balance sheet date. The valuation is made by the directors.

Depreciation
Depreciation on the hospitality assets and the cabin is charged at 25% reducing balance and 5% on cost respectively.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Freehold Agricultural Plant &
property machinery machinery
£    £    £   
COST OR VALUATION
At 1 August 2022 254,991 985,967 78,049
Additions - 125,000 30,938
Disposals - (82,015 ) -
At 31 July 2023 254,991 1,028,952 108,987
DEPRECIATION
At 1 August 2022 - 737,925 66,127
Charge for year - 73,943 10,719
Eliminated on disposal - (78,690 ) -
At 31 July 2023 - 733,178 76,846
NET BOOK VALUE
At 31 July 2023 254,991 295,774 32,141
At 31 July 2022 254,991 248,042 11,922

Kevin Kirby Limited (Registered number: 03816356)

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

4. TANGIBLE FIXED ASSETS - continued

Hospitality
assets & Motor Computer
cabin vehicles equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 August 2022 270,026 68,110 5,038 1,662,181
Additions 47,699 39,795 - 243,432
Disposals - - - (82,015 )
At 31 July 2023 317,725 107,905 5,038 1,823,598
DEPRECIATION
At 1 August 2022 38,512 33,220 4,739 880,523
Charge for year 14,325 12,868 74 111,929
Eliminated on disposal - - - (78,690 )
At 31 July 2023 52,837 46,088 4,813 913,762
NET BOOK VALUE
At 31 July 2023 264,888 61,817 225 909,836
At 31 July 2022 231,514 34,890 299 781,658

Cost or valuation at 31 July 2023 is represented by:

Freehold Agricultural Plant &
property machinery machinery
£    £    £   
Valuation in 2016 295,000 1,540,856 93,337
Valuation in 2017 8,500 (206,265 ) 3,825
Valuation in 2018 (48,509 ) (139,635 ) 469
Valuation in 2019 - 31,774 -
Valuation in 2020 - 71,000 (28,849 )
Valuation in 2021 - (159,938 ) 1,161
Valuation in 2022 - (151,825 ) 8,106
Valuation in 2023 - 42,985 30,938
254,991 1,028,952 108,987

Hospitality
assets & Motor Computer
cabin vehicles equipment Totals
£    £    £    £   
Valuation in 2016 26,517 22,115 4,289 1,982,114
Valuation in 2017 - - - (193,940 )
Valuation in 2018 48,509 - 577 (138,589 )
Valuation in 2019 - - - 31,774
Valuation in 2020 - - - 42,151
Valuation in 2021 - - - (158,777 )
Valuation in 2022 195,000 45,995 172 97,448
Valuation in 2023 47,699 39,795 - 161,417
317,725 107,905 5,038 1,823,598

Kevin Kirby Limited (Registered number: 03816356)

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

4. TANGIBLE FIXED ASSETS - continued

If freehold property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 254,991 254,991

Value of land in freehold land and buildings 254,991 254,991

Freehold property was valued on an open market basis on 31 July 2023 by the director, Mr K Kirby .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Agricultural Motor
machinery vehicles Totals
£    £    £   
COST OR VALUATION
At 1 August 2022 487,951 45,995 533,946
Additions 125,000 39,795 164,795
Transfer to ownership (16,950 ) - (16,950 )
At 31 July 2023 596,001 85,790 681,791
DEPRECIATION
At 1 August 2022 344,992 11,499 356,491
Charge for year 50,314 12,769 63,083
Transfer to ownership (565 ) - (565 )
At 31 July 2023 394,741 24,268 419,009
NET BOOK VALUE
At 31 July 2023 201,260 61,522 262,782
At 31 July 2022 142,959 34,496 177,455

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022 840,633
Additions 47,400
At 31 July 2023 888,033
NET BOOK VALUE
At 31 July 2023 888,033
At 31 July 2022 840,633

The investment property was purchased in July 2016 and substantial property improvements have been carried out in the 2023, 2022 and 2021 years. The director, Mr K M Kirby, considers the fair market value as at 31 July 2023 to be £888,033.

Kevin Kirby Limited (Registered number: 03816356)

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

5. INVESTMENT PROPERTY - continued

Fair value at 31 July 2023 is represented by:
£   
Valuation in 2016 488,383
Valuation in 2017 21,250
Valuation in 2021 230,000
Valuation in 2022 101,000
Valuation in 2023 47,400
888,033

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 71,100 265,957
Other debtors 580 3,632
Directors' current accounts 564 -
Prepayments 1,800 2,550
74,044 272,139

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 352,935 296,906
Hire purchase contracts 146,150 149,041
Trade creditors 176,705 316,984
Tax 32,105 34,918
Social security and other taxes 55,108 13,477
Directors' current accounts - 2,598
Accrued expenses 3,800 4,020
766,803 817,944

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 54,948 53,518
Bank loans - 2-5 years 59,344 109,437
Hire purchase contracts 126,455 244,306
240,747 407,261

Kevin Kirby Limited (Registered number: 03816356)

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

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 467,227 459,861
Hire purchase contracts 272,605 393,347
739,832 853,208

The bank loan is secured by a legal charge on the freehold property of the company.

10. RESERVES
Fair
value
reserve
£   
At 1 August 2022
and 31 July 2023 59,868

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2023 and 31 July 2022:

2023 2022
£    £   
K M Kirby
Balance outstanding at start of year - 123,753
Amounts advanced 564 -
Amounts repaid - (123,753 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 564 -

The company does not charge interest on the overdrawn director's loan account.

12. RELATED PARTY DISCLOSURES

In July 2011 the company lent the director's self invested pension scheme (The Woodview Trust) an amount of £108,835 for the purchase of freehold commercial property held within the scheme. This loan is repayable to the company over 15 years and interest on the loan is to be charged to The Woodfield Trust at a rate of 3%. The loan was fully repaid in the year ended 31 July 2021.The company paid The Woodfield Trust £25,726 rent for the use of the property in the 2023 year.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the director, Mr K Kirby, through his shareholding in this company.