Caseware UK (AP4) 2023.0.135 2023.0.135 2023-01-01falseThe company's principal activity during the year was that of financial management consultancy.84truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09877141 2023-01-01 2023-11-30 09877141 2022-01-01 2022-12-31 09877141 2023-11-30 09877141 2022-12-31 09877141 c:Director1 2023-01-01 2023-11-30 09877141 d:MotorVehicles 2023-01-01 2023-11-30 09877141 d:MotorVehicles 2023-11-30 09877141 d:MotorVehicles 2022-12-31 09877141 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-11-30 09877141 d:FurnitureFittings 2023-01-01 2023-11-30 09877141 d:FurnitureFittings 2023-11-30 09877141 d:FurnitureFittings 2022-12-31 09877141 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-11-30 09877141 d:OwnedOrFreeholdAssets 2023-01-01 2023-11-30 09877141 d:ComputerSoftware 2023-11-30 09877141 d:ComputerSoftware 2022-12-31 09877141 d:CurrentFinancialInstruments 2023-11-30 09877141 d:CurrentFinancialInstruments 2022-12-31 09877141 d:Non-currentFinancialInstruments 2023-11-30 09877141 d:Non-currentFinancialInstruments 2022-12-31 09877141 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 09877141 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09877141 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 09877141 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 09877141 d:ShareCapital 2023-11-30 09877141 d:ShareCapital 2022-12-31 09877141 d:RetainedEarningsAccumulatedLosses 2023-11-30 09877141 d:RetainedEarningsAccumulatedLosses 2022-12-31 09877141 c:FRS102 2023-01-01 2023-11-30 09877141 c:AuditExemptWithAccountantsReport 2023-01-01 2023-11-30 09877141 c:FullAccounts 2023-01-01 2023-11-30 09877141 c:PrivateLimitedCompanyLtd 2023-01-01 2023-11-30 09877141 d:ComputerSoftware d:InternallyGeneratedIntangibleAssets 2023-01-01 2023-11-30 09877141 2 2023-01-01 2023-11-30 09877141 4 2023-01-01 2023-11-30 09877141 6 2023-01-01 2023-11-30 09877141 d:ComputerSoftware d:OwnedIntangibleAssets 2023-01-01 2023-11-30 09877141 e:PoundSterling 2023-01-01 2023-11-30 iso4217:GBP xbrli:pure

Registered number: 09877141










Kent Finance Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Period Ended 30 November 2023

 
Kent Finance Limited
 
  
Chartered Accountants' Report to the Director on the preparation of the Unaudited Statutory Financial Statements of Kent Finance Limited for the Period Ended 30 November 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kent Finance Limited for the period ended 30 November 2023 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of Kent Finance Limited in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Kent Finance Limited  and state those matters that we have agreed to state to the director of Kent Finance Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kent Finance Limited and its director for our work or for this report. 

It is your duty to ensure that Kent Finance Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Kent Finance Limited. You consider that Kent Finance Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of Kent Finance Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ
18 December 2023
Page 1

 
Kent Finance Limited
Registered number: 09877141

Balance Sheet
As at 30 November 2023

30 November
31 December
2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
59,976
37,000

Tangible assets
 5 
86,294
77,750

Investments
 6 
100
100

  
146,370
114,850

Current assets
  

Debtors: amounts falling due within one year
 7 
201,285
116,029

Cash at bank and in hand
  
-
155

  
201,285
116,184

Creditors: amounts falling due within one year
 8 
(269,968)
(130,919)

Net current liabilities
  
 
 
(68,683)
 
 
(14,735)

Total assets less current liabilities
  
77,687
100,115

Creditors: amounts falling due after more than one year
 9 
(23,416)
(44,859)

Provisions for liabilities
  

Deferred tax
  
(11,648)
(7,766)

  
 
 
(11,648)
 
 
(7,766)

Net assets
  
42,623
47,490


Capital and reserves
  

Called up share capital 
  
102
102

Profit and loss account
  
42,521
47,388

  
42,623
47,490


Page 2

 
Kent Finance Limited
Registered number: 09877141

Balance Sheet (continued)
As at 30 November 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr W V Napier-Fenning
Director

Date: 18 December 2023

The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
Kent Finance Limited
 

 
Notes to the Financial Statements
For the Period Ended 30 November 2023

1.


General information

The Company is a private company limited by share capital, incorporated in England and Wales.
The Company's registered office and principal place of business is:
1 Sunflower Pluckley
Ashford
United Kingdom
TN27 0PD

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
Kent Finance Limited
 

 
Notes to the Financial Statements
For the Period Ended 30 November 2023

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows:.

Depreciation is provided on the following basis:

Motor vehicles
-
16.67%
reducing balance
Fixtures and fittings
-
33.33%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Financial instruments

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities
Page 5

 
Kent Finance Limited
 

 
Notes to the Financial Statements
For the Period Ended 30 November 2023

2.Accounting policies (continued)


2.8
Financial instruments (continued)


Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.9

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.13

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 6

 
Kent Finance Limited
 

 
Notes to the Financial Statements
For the Period Ended 30 November 2023

2.Accounting policies (continued)

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the period was 8 (2022 - 4).

Page 7

 
Kent Finance Limited
 

 
Notes to the Financial Statements
For the Period Ended 30 November 2023

4.


Intangible assets






Computer software

£



Cost


At 1 January 2023
56,821


Additions - internal
30,016



At 30 November 2023

86,837



Amortisation


At 1 January 2023
19,821


Charge for the period on owned assets
7,040



At 30 November 2023

26,861



Net book value



At 30 November 2023
59,976



At 31 December 2022
37,000



Page 8

 
Kent Finance Limited
 

 
Notes to the Financial Statements
For the Period Ended 30 November 2023

5.


Tangible fixed assets







Motor vehicles
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 January 2023
81,529
13,478
95,007


Additions
-
20,050
20,050



At 30 November 2023

81,529
33,528
115,057



Depreciation


At 1 January 2023
5,915
11,342
17,257


Charge for the period on owned assets
6,967
4,539
11,506



At 30 November 2023

12,882
15,881
28,763



Net book value



At 30 November 2023
68,647
17,647
86,294



At 31 December 2022
75,614
2,136
77,750

Page 9

 
Kent Finance Limited
 

 
Notes to the Financial Statements
For the Period Ended 30 November 2023

6.


Fixed asset investments








Investments in subsidiary companies

£



Cost  


At 1 January 2023
100



At 30 November 2023
100





7.


Debtors

30 November
31 December
2023
2022
£
£


Trade debtors
193,896
110,021

Amounts owed by group undertakings
-
5,996

Other debtors
2,397
12

Amounts recoverable on long term contracts
4,992
-

201,285
116,029



8.


Creditors: Amounts falling due within one year

30 November
31 December
2023
2022
£
£

Bank overdrafts
60,629
-

Bank loans
10,648
10,648

Corporation tax
53,184
48,197

Other taxation and social security
86,835
43,885

Obligations under finance lease and hire purchase contracts
13,510
13,510

Other creditors
45,162
14,679

269,968
130,919


Page 10

 
Kent Finance Limited
 

 
Notes to the Financial Statements
For the Period Ended 30 November 2023

9.


Creditors: Amounts falling due after more than one year

30 November
31 December
2023
2022
£
£

Bank loans
14,410
23,469

Net obligations under finance leases and hire purchase contracts
9,006
21,390

23,416
44,859



Page 11