Registration number:
Kingsbury Investment Management Ltd
for the Year Ended 31 December 2023
Kingsbury Investment Management Ltd
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Kingsbury Investment Management Ltd
Company Information
Directors |
Mr D A Monk Mr J H Slade |
Registered office |
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Accountants |
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Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Kingsbury Investment Management Ltd
for the Year Ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Kingsbury Investment Management Ltd for the year ended 31 December 2023 as set out on pages 3 to 9 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
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Kingsbury Investment Management Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Kingsbury Investment Management Ltd and state those matters that we have agreed to state to the Board of Directors of Kingsbury Investment Management Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kingsbury Investment Management Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Kingsbury Investment Management Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Kingsbury Investment Management Ltd. You consider that Kingsbury Investment Management Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Kingsbury Investment Management Ltd. 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 accounts.
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6 Houndiscombe Road
Plymouth
Devon
PL4 6HH
Kingsbury Investment Management Ltd
(Registration number: 13077141)
Balance Sheet as at 31 December 2023
2023 |
(As restated) |
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Fixed assets |
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Tangible assets |
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Investment property |
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|
|
|
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
Net current liabilities |
( |
( |
Net assets |
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|
Capital and reserves |
||
Called up share capital |
600 |
600 |
Retained earnings |
211,418 |
139,798 |
Shareholders' funds |
212,018 |
140,398 |
Kingsbury Investment Management Ltd
(Registration number: 13077141)
Balance Sheet as at 31 December 2023
For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Mr D A Monk
Director
.........................................
Mr J H Slade
Director
Kingsbury Investment Management Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover represents the consultancy fees charged by the directors for their expertise in the property sector, and also rental income received from the company’s investment properties. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
Consultancy income is recognized on completion of the consultancy work. Rental income is time apportioned and recognised at the time of supply.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Kingsbury Investment Management Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Fixtures & Fittings |
15% reducing balance |
Investment property
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Kingsbury Investment Management Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 January 2023 |
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At 31 December 2023 |
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Depreciation |
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At 1 January 2023 |
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Charge for the year |
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At 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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Investment properties |
2023 |
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At 1 January |
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Additions |
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At 31 December |
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Investment property is carried at fair value as determined by the directors. The directors are satisfied that the values remain reasonable at the balance sheet date, but that a further review will be conducted in 2024.
There has been no valuation of investment property by an independent valuer.
Debtors |
2023 |
2022 |
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Trade debtors |
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Prepayments |
- |
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Kingsbury Investment Management Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Transition to FRS 102 |
Balance Sheet at 1 January 2022
As originally reported |
Reclassification |
Remeasurement |
As restated |
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Fixed assets |
||||
Tangible assets |
98,988 |
(101,008) |
2,020 |
- |
Investment property |
- |
101,008 |
- |
101,008 |
98,988 |
- |
2,020 |
101,008 |
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Current assets |
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Debtors |
1,060 |
- |
- |
1,060 |
Cash at bank and in hand |
2,733 |
- |
- |
2,733 |
3,793 |
- |
- |
3,793 |
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Creditors: Amounts falling due within one year |
(23,041) |
- |
- |
(23,041) |
Net current liabilities |
(19,248) |
- |
- |
(19,248) |
Net assets |
79,740 |
- |
2,020 |
81,760 |
Capital and reserves |
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Called up share capital |
(600) |
- |
- |
(600) |
Retained earnings |
(79,140) |
- |
(2,020) |
(81,160) |
Kingsbury Investment Management Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
As originally reported |
Reclassification |
Remeasurement |
As restated |
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Total equity |
(79,740) |
- |
(2,020) |
(81,760) |
Balance Sheet at 31 December 2022
As originally reported |
Reclassification |
Remeasurement |
As restated |
|
Fixed assets |
||||
Tangible assets |
291,608 |
(297,667) |
6,990 |
931 |
Investment property |
- |
297,667 |
- |
297,667 |
291,608 |
- |
6,990 |
298,598 |
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Current assets |
||||
Debtors |
2,629 |
- |
- |
2,629 |
Cash at bank and in hand |
5,140 |
- |
- |
5,140 |
7,769 |
- |
- |
7,769 |
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Total assets less current liabilities |
299,377 |
- |
6,990 |
306,367 |
Creditors: Amounts falling due after more than one year |
(165,969) |
- |
- |
(165,969) |
Net assets |
133,408 |
- |
6,990 |
140,398 |
Capital and reserves |
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Called up share capital |
(600) |
- |
- |
(600) |
Retained earnings |
(132,808) |
- |
(6,990) |
(139,798) |
Total equity |
(133,408) |
- |
(6,990) |
(140,398) |