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REGISTERED NUMBER: 09845225 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

KEA NEW LTD

KEA NEW LTD (REGISTERED NUMBER: 09845225)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


KEA NEW LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mrs C R F Sage
K M H Houson





REGISTERED OFFICE: High Holborn House
52-54 High Holborn
London
WC1V 6RL





REGISTERED NUMBER: 09845225 (England and Wales)





ACCOUNTANTS: TC Group
Baird House
Seebeck Place
Knowlhill
Milton Keynes
Buckinghamshire
MK5 8FR

KEA NEW LTD (REGISTERED NUMBER: 09845225)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 1,951,194 1,951,194

CURRENT ASSETS
Debtors 5 82,187 2,054
Cash at bank 516 516
82,703 2,570
CREDITORS
Amounts falling due within one year 6 2,024,019 1,943,766
NET CURRENT LIABILITIES (1,941,316 ) (1,941,196 )
TOTAL ASSETS LESS CURRENT LIABILITIES 9,878 9,998

CAPITAL AND RESERVES
Called up share capital 1,834 1,834
Share premium 7,511 7,511
Retained earnings 533 653
9,878 9,998

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

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

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 27 August 2024 and were signed on its behalf by:





K M H Houson - Director


KEA NEW LTD (REGISTERED NUMBER: 09845225)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Kea New 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.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Capital contributions
The capital contribution represent payments made to the employee ownership trust.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 1,951,194
NET BOOK VALUE
At 31 December 2023 1,951,194
At 31 December 2022 1,951,194

KEA NEW LTD (REGISTERED NUMBER: 09845225)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 2,000 2,000
Amounts owed by associates 80,133 -
Other debtors 54 54
82,187 2,054

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 2,024,019 1,943,766

7. CONTINGENT LIABILITIES

On the 27th September 2023, 100% of the shares in Kea New Ltd were acquired by The Kea Employee Ownership Trust.The trustees of which being Trident Trust Company (U.K.) Limited.

During the year Kea Consultants Limited a 100% subsidiary of the company, gifted £1,250,000 to the Employee Ownership Trust which is treated as a reduction in equity via capital contribution.

As at 31 December 2023, £18,981,795 is outstanding for which the company acts as guarantor to the trust. This will be repaid by the trust inline with an agreed payment plan, on the basis that the group remains profitable in the future.

8. RELATED PARTY DISCLOSURES

During the year, the company received dividends of £1,250,000 (2022: £4,569,047) from Kea Global
Limited, its subsidiary company. During the year, the company paid out dividends of £NIL (2022: £1,656,406) to Mrs C Sage and Mrs C Allen. At the year end, the company owed £2,024,019 (2022: £1,951,665) to Kea Consultants Limited. Kea Consultants Limited is a subsidiary of Kea Global Limited.

At the balance sheet date Kea Global Limited owed the company £2,000 (2022: £2,000).

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is The Kea Employee Ownership Trust. The trustees of which being Trident Trust Company (U.K.) Limited.The trust holds the controlling stake in the company for the benefit of the employees.

10. EMPLOYEE OWNERSHIP TRUST

During the year the company gifted £1,250,000 to the Employee Ownership Trust which is treated as a reduction in equity via capital contribution.from retaining earnings.


At the balance sheet date the employee ownership trust owed the company £80,133 (2022: £Nil).