Kentmere (Holdings) Limited 07456711 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is property investment and rental. Digita Accounts Production Advanced 6.30.9574.0 true true 07456711 2023-01-01 2023-12-31 07456711 2023-12-31 07456711 core:CurrentFinancialInstruments 2023-12-31 07456711 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 07456711 bus:SmallEntities 2023-01-01 2023-12-31 07456711 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 07456711 bus:FilletedAccounts 2023-01-01 2023-12-31 07456711 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07456711 bus:RegisteredOffice 2023-01-01 2023-12-31 07456711 bus:Director1 2023-01-01 2023-12-31 07456711 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07456711 countries:EnglandWales 2023-01-01 2023-12-31 07456711 2022-12-31 07456711 2022-01-01 2022-12-31 07456711 2022-12-31 07456711 core:CurrentFinancialInstruments 2022-12-31 07456711 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 07456711

Kentmere (Holdings) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Kentmere (Holdings) Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Kentmere (Holdings) Limited

(Registration number: 07456711)
Statement of Financial Position as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

1,025,000

1,000,000

Current assets

 

Debtors

5

17,143

10,475

Cash at bank and in hand

 

85,863

31,145

 

103,006

41,620

Creditors: Amounts falling due within one year

6

(718,286)

(706,647)

Net current liabilities

 

(615,280)

(665,027)

Total assets less current liabilities

 

409,720

334,973

Provisions for liabilities

(7,749)

(1,949)

Net assets

 

401,971

333,024

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

401,871

332,924

Shareholders' funds

 

401,971

333,024

 

Kentmere (Holdings) Limited

(Registration number: 07456711)
Statement of Financial Position as at 31 December 2023 (continued)

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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 20 August 2024 and signed on its behalf by:
 


Mr R B Grave
Director

 

Kentmere (Holdings) Limited

Notes to the Unaudited Financial Statements for the
Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Timberly
South Street
Axminster
Devon
EX13 5AD

Principal activity

The principal activity of the company is property investment and rental.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

Kentmere (Holdings) Limited

Notes to the Unaudited Financial Statements for the
Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

Kentmere (Holdings) Limited

Notes to the Unaudited Financial Statements for the
Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

4

Investment properties

2023
£

At 1 January

1,000,000

Fair value adjustments

25,000

At 31 December

1,025,000

Two of the three properties have been revalued by independent estate agents. The Directors do not expect the third property's value to be materially different to the value it is held at in the accounts.

5

Debtors

2023
£

2022
£

Trade debtors

17,143

10,475

17,143

10,475

 

Kentmere (Holdings) Limited

Notes to the Unaudited Financial Statements for the
Year Ended 31 December 2023 (continued)

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

13,939

23,802

Accruals and deferred income

1,664

1,548

Other creditors

702,683

681,297

718,286

706,647

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

8

Related party transactions

Other transactions with directors

At the end of the year, the company owed it's Directors £322,683.00 (2022: £305,630.00). Also included within creditors, are loans due to family members of the directors totalling £375,000.00 (2022: £375,000.00).