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REGISTERED NUMBER: 05760541 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 November 2023

for

Kennoway Investments Ltd

Kennoway Investments Ltd (Registered number: 05760541)






Contents of the Financial Statements
for the year ended 30 November 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Kennoway Investments Ltd

Company Information
for the year ended 30 November 2023







DIRECTORS: P L Madden
B McRory
R Clark





REGISTERED OFFICE: 22-28 Willow Street
Accrington
Lancashire
BB5 1LP





REGISTERED NUMBER: 05760541 (England and Wales)





ACCOUNTANTS: Mayes Business Partnership Ltd
Chartered Certified Accountants
22-28 Willow Street
Accrington
Lancashire
BB5 1LP

Kennoway Investments Ltd (Registered number: 05760541)

Abridged Balance Sheet
30 November 2023

30/11/23 30/11/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,567 10,078
Investment property 5 2,280,000 2,280,000
2,288,567 2,290,078

CURRENT ASSETS
Debtors 214,782 229,337
Cash at bank 62,213 87,692
276,995 317,029
CREDITORS
Amounts falling due within one year 112,632 112,159
NET CURRENT ASSETS 164,363 204,870
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,452,930

2,494,948

CREDITORS
Amounts falling due after more than one year 6 (1,693,840 ) (1,748,459 )

PROVISIONS FOR LIABILITIES (155,361 ) (128,573 )
NET ASSETS 603,729 617,916

CAPITAL AND RESERVES
Called up share capital 8 750 750
Revaluation reserve 9 539,965 539,965
Retained earnings 63,014 77,201
SHAREHOLDERS' FUNDS 603,729 617,916

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

Kennoway Investments Ltd (Registered number: 05760541)

Abridged Balance Sheet - continued
30 November 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 November 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 16 August 2024 and were signed on its behalf by:





P L Madden - Director


Kennoway Investments Ltd (Registered number: 05760541)

Notes to the Financial Statements
for the year ended 30 November 2023

1. STATUTORY INFORMATION

Kennoway Investments Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income is recognised when rent becomes payable to the company.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Investment property
Investment properties are valued by independent valuers on an open market basis as an investment.

Basic financial instruments
Basic financial assets, including trade and other receivables, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, 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.
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

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.


Kennoway Investments Ltd (Registered number: 05760541)

Notes to the Financial Statements - continued
for the year ended 30 November 2023

2. ACCOUNTING POLICIES - continued
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 3 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 December 2022
and 30 November 2023 33,187
DEPRECIATION
At 1 December 2022 23,109
Charge for year 1,511
At 30 November 2023 24,620
NET BOOK VALUE
At 30 November 2023 8,567
At 30 November 2022 10,078

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 2,280,000
NET BOOK VALUE
At 30 November 2023 2,280,000
At 30 November 2022 2,280,000

Kennoway Investments Ltd (Registered number: 05760541)

Notes to the Financial Statements - continued
for the year ended 30 November 2023

5. INVESTMENT PROPERTY - continued

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2019 666,623
Cost 1,613,377
2,280,000

If Investment properties had not been revalued they would have been included at the following historical cost:

30/11/23 30/11/22
£    £   
Cost 1,620,871 1,620,871
Aggregate depreciation (7,494 ) (7,494 )

Investment properties were valued on investment property basis on 1 May 2019 by Colliers Int. Property Cons. Ltd .

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
30/11/23 30/11/22
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 320,358 5,067

7. SECURED DEBTS

The following secured debts are included within creditors:

30/11/23 30/11/22
£    £   
Bank loans 1,018,584 1,084,025

The mortgages are secured on the properties.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/11/23 30/11/22
value: £    £   
750 Ordinary £1 750 750

Kennoway Investments Ltd (Registered number: 05760541)

Notes to the Financial Statements - continued
for the year ended 30 November 2023

9. RESERVES
Revaluation
reserve
£   
At 1 December 2022
and 30 November 2023 539,965

10. RELATED PARTY DISCLOSURES

The directors and their partners are collectively owed £732,570 (2022: £720,966). These amounts are included in Creditors: amounts falling due after more than one year.