Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-282024-02-282023-02-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalseNo description of principal activity1falsefalse SC757261 2023-01-31 SC757261 2023-02-01 2024-02-28 SC757261 2022-04-05 2023-01-31 SC757261 2024-02-28 SC757261 c:Director1 2023-02-01 2024-02-28 SC757261 c:Director1 2024-02-28 SC757261 c:RegisteredOffice 2023-02-01 2024-02-28 SC757261 d:FreeholdInvestmentProperty 2023-02-01 2024-02-28 SC757261 d:FreeholdInvestmentProperty 2024-02-28 SC757261 d:CurrentFinancialInstruments 2024-02-28 SC757261 d:Non-currentFinancialInstruments 2024-02-28 SC757261 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-28 SC757261 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-28 SC757261 d:ShareCapital 2024-02-28 SC757261 d:RetainedEarningsAccumulatedLosses 2024-02-28 SC757261 c:OrdinaryShareClass1 2023-02-01 2024-02-28 SC757261 c:OrdinaryShareClass1 2024-02-28 SC757261 c:FRS102 2023-02-01 2024-02-28 SC757261 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-02-28 SC757261 c:FullAccounts 2023-02-01 2024-02-28 SC757261 c:PrivateLimitedCompanyLtd 2023-02-01 2024-02-28 SC757261 e:PoundSterling 2023-02-01 2024-02-28 iso4217:GBP xbrli:shares xbrli:pure
Registered number: SC757261










KENNARD INVESTMENTS LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2024

 
KENNARD INVESTMENTS LIMITED
 

COMPANY INFORMATION


Director
Mrs K F Hirst (appointed 1 February 2023)




Registered number
SC757261



Registered office
39 Walter Lumsden Court
Freuchie

Cupar

Fife

KY15 7DZ




Accountants
EQ Accountants Limited
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
KENNARD INVESTMENTS LIMITED
REGISTERED NUMBER: SC757261

STATEMENT OF FINANCIAL POSITION
AS AT 28 FEBRUARY 2024

2024
£

Fixed assets
  

Investment property
 4 
233,846

  
233,846

Current assets
  

Debtors: amounts falling due within one year
 5 
4,334

Cash at bank and in hand
  
489

  
4,823

Creditors: amounts falling due within one year
 6 
(106,663)

Net current (liabilities)/assets
  
 
 
(101,840)

Total assets less current liabilities
  
132,006

Creditors: amounts falling due after more than one year
  
(142,926)

  

Net (liabilities)/assets
  
(10,920)


Capital and reserves
  

Called up share capital 
 8 
100

Profit and loss account
  
(11,020)

  
(10,920)


Page 1

 
KENNARD INVESTMENTS LIMITED
REGISTERED NUMBER: SC757261

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 28 FEBRUARY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mrs K F Hirst
Director

Date: 26 July 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
KENNARD INVESTMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2024

1.


General information

Kennard Investments Limited is a private company, limited by shares and incorporated in Scotland, registration number SC757261. The registered office address is 39 Walter Lumsden Court, Freuchie, Cupar, Scotland, KY15 7DZ. 
The financial activity statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis, notwithstanding the company has net liabilities as at 28 February 2024 of £10,920. The director believes the company has sufficient working capital for it to continue trading for at least 12 months from the date the financial statements are approved.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
KENNARD INVESTMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.6

Investment property

Investment property is carried at fair value determined annually by directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position 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.

Page 4

 
KENNARD INVESTMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2024

3.


Employees




The average monthly number of employees, including directors, during the period was 1.


4.


Investment property


Freehold investment property

£



Valuation


Additions at cost
233,846



At 28 February 2024
233,846

The 2024 valuations were made by the director derived from the current market rents and investment property yields for comparable real estate. The director considers the valuation of investment property to be reasonable based on current market conditions.







5.


Debtors

2024
£


Other debtors
1,800

Deferred taxation
2,534

4,334



6.


Creditors: Amounts falling due within one year

2024
£

Other creditors
104,263

Accruals and deferred income
2,400

106,663


Included in creditors are directors' loan balances of £102,463

Page 5

 
KENNARD INVESTMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2024

7.


Creditors: Amounts falling due after more than one year

2024
£

Bank loans
142,926

142,926


Secured loans
Bank loans are secured by a standard security over a property owned by the company. 
Creditors: Amounts falling due after more than 5 years
Included within bank loans due after more than 1 year are instalments totalling £142,926 which are due
after 5 years.


8.


Share capital

2024
£
Allotted, called up and fully paid


100 Ordinary shares of £1.00 each
100


During the period, 100 Ordinary shares of £1.00 each were issued.


Page 6