Company registration number 06404587 (England and Wales)
KINGDON VENTURES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
KINGDON VENTURES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
KINGDON VENTURES LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,872
4,500
Current assets
Debtors
4
435
366
Cash at bank and in hand
6,458
8,783
6,893
9,149
Creditors: amounts falling due within one year
5
(149,447)
(145,372)
Net current liabilities
(142,554)
(136,223)
Net liabilities
(138,682)
(131,723)
Capital and reserves
Called up share capital
2
2
Retained earnings
(138,684)
(131,725)
Total equity
(138,682)
(131,723)
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
KINGDON VENTURES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2023
30 November 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 28 August 2024 and are signed on its behalf by:
Mr G J Kingdon
Director
Company Registration No. 06404587
KINGDON VENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 3 -
1
Accounting policies
Company information
Kingdon Ventures Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3 Collins Road, Pennsylvania, Exeter, DEVON, EX4 5DQ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
At the balance sheet date the company was in deficit by £1true38,682. The deficit has been supported by the Shareholders' who do not anticipate withdrawing their support within the next twelve months.
The directors believe that the preparation of the accounts on a going concern basis is correct as a result of the shareholders' continued support.
1.3
Turnover
Turnover represents the amounts of rents receivable for the accounting year.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold improvements
2% on cost
Fixtures and fittings
20% on cost
Computers
33.33% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
KINGDON VENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial instruments are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts/payments discounted at a market rate of interest. Financial instruments classified as receivable or payable within one year are not amortised.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
KINGDON VENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 5 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 December 2022 and 30 November 2023
2,917
14,888
17,805
Depreciation and impairment
At 1 December 2022
604
12,701
13,305
Depreciation charged in the year
58
570
628
At 30 November 2023
662
13,271
13,933
Carrying amount
At 30 November 2023
2,255
1,617
3,872
At 30 November 2022
2,313
2,187
4,500
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
435
366
5
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
149,447
145,372
6
Related party transactions
The company pays rent to the the directors, not at an arms length value for the use of the investment property for the purposes of its trade.