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Registered number: 00953631










KENTWOOD HOUSE INVESTMENTS









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
KENTWOOD HOUSE INVESTMENTS LIMITED
 

CONTENTS



Page
Company Information
1
Balance Sheet
2
Statement of Changes in Equity
3
Notes to the Financial Statements
4 - 9

 
KENTWOOD HOUSE INVESTMENTS LIMITED
 

COMPANY INFORMATION


Directors
Ms J A Adams 
Mrs J A Woodward 




Company secretary
Mrs J A Woodward



Registered number
00953631



Registered office
James Cowper Kreston
Reading Bridge House

George Street

Reading

Berkshire

RG1 8LS




Independent auditors
James Cowper Kreston Audit
Chartered Accountants and Statutory Auditor

2 Communications Road

Greenham Business Park

Greenham

Newbury

Berkshire

RG19 6AB




Page 1

 
KENTWOOD HOUSE INVESTMENTS LIMITED
REGISTERED NUMBER: 00953631

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
674
-

Investment property
 5 
2,373,634
2,373,634

  
2,374,308
2,373,634

Current assets
  

Debtors: amounts falling due within one year
 6 
10,079
7,049

Cash at bank and in hand
  
904,982
1,032,909

  
915,061
1,039,958

Creditors: amounts falling due within one year
 7 
(78,096)
(68,233)

Net current assets
  
 
 
836,965
 
 
971,725

Total assets less current liabilities
  
3,211,273
3,345,359

Provisions for liabilities
  

Deferred tax
 8 
(301,193)
(301,024)

  
 
 
(301,193)
 
 
(301,024)

Net assets
  
2,910,080
3,044,335


Capital and reserves
  

Called up share capital 
  
9,900
9,900

Revaluation reserve
  
1,523,553
1,523,553

Other reserves
  
7,604
7,604

Profit and loss account
  
1,369,023
1,503,278

  
2,910,080
3,044,335


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 comprehensive income 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 on 27 August 2024.


Ms J A Adams
Director

The notes on pages 4 to 9 form part of these financial statements.
Page 2

 
KENTWOOD HOUSE INVESTMENTS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Revaluation reserve
Other reserves
Profit and loss account
Total equity

£
£
£
£
£

At 1 January 2023
9,900
1,523,553
7,604
1,503,278
3,044,335


Comprehensive income for the year

Profit for the year
-
-
-
166,088
166,088

Dividends: Equity capital
-
-
-
(300,343)
(300,343)


At 31 December 2023
9,900
1,523,553
7,604
1,369,023
2,910,080


The notes on pages 4 to 9 form part of these financial statements.


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2022


Called up share capital
Revaluation reserve
Other reserves
Profit and loss account
Total equity

£
£
£
£
£

At 1 January 2022
9,900
1,523,553
7,604
1,579,917
3,120,974


Comprehensive income for the year

Profit for the year
-
-
-
177,121
177,121

Dividends: Equity capital
-
-
-
(253,760)
(253,760)


At 31 December 2022
9,900
1,523,553
7,604
1,503,278
3,044,335


The notes on pages 4 to 9 form part of these financial statements.
Page 3

 
KENTWOOD HOUSE INVESTMENTS LIMITED
 

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

1.


General information

Kentwood House Investments Limited is a private company limited by share capital and incorporated in England and Wales. Its registered office is Reading Bridge house, George street, Reading, Berkshire, RG1 8LS. The principal activity of the company is that of property investment.

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

Turnover

Turnover comprises rents receivable. Rental income is recognised in the income statement on a straight-line basis over the term of the lease 

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.


Office equipment
-
25% straight line and 15% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Investment property

Investment property is carried at fair value determined by the 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. Changes in fair value are recognised in the Statement of Comprehensive Income. No depreciation is provided, with the fair value model being applied.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
KENTWOOD HOUSE INVESTMENTS LIMITED
 

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

2.Accounting policies (continued)

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 32 days. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

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.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.10

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.11

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.

Page 5

 
KENTWOOD HOUSE INVESTMENTS LIMITED
 

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

2.Accounting policies (continued)

 
2.12

Current and deferred taxation

The tax expense for the year 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 balance sheet 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 balance sheet 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 balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 6

 
KENTWOOD HOUSE INVESTMENTS LIMITED
 

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

4.


Tangible fixed assets





Office equipment

£



Cost


At 1 January 2023
637


Additions
899


Disposals
(542)



At 31 December 2023

994



Depreciation


At 1 January 2023
637


Charge for the year
225


Disposals
(542)



At 31 December 2023

320



Net book value



At 31 December 2023
674



At 31 December 2022
-


5.


Investment property


Investment properties

£



Valuation


At 1 January 2023
2,373,634



At 31 December 2023
2,373,634

The 2023 valuations were made by the directors, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
608,233
608,233

608,233
608,233

Page 7

 
KENTWOOD HOUSE INVESTMENTS LIMITED
 

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

6.


Debtors

2023
2022
£
£


Trade debtors
8,097
5,640

Other debtors
1,982
1,409

10,079
7,049



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
2,781
337

Corporation tax
50,432
41,547

Other taxation and social security
1,270
1,398

Other creditors
-
303

Accruals and deferred income
23,613
24,648

78,096
68,233



8.


Deferred taxation




2023
2022


£

£






At beginning of year
(301,024)
(301,024)


Charged to profit or loss
(169)
-



At end of year
(301,193)
(301,024)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Capital gains
(301,024)
(301,024)

Fixed asset timing difference
(169)
-

(301,193)
(301,024)

Page 8

 
KENTWOOD HOUSE INVESTMENTS LIMITED
 

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

9.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 28 August 2024 by Alexander Peal BSc(Hons) FCA DChA (Senior Statutory Auditor) on behalf of James Cowper Kreston Audit.


Page 9