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REGISTERED NUMBER: 10406353 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Killerby Estates Limited

Killerby Estates Limited (Registered number: 10406353)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Killerby Estates Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr S Pye
Mrs B H J Pye





REGISTERED OFFICE: Rowan House
7 West Bank
Scarborough
North Yorkshire
YO12 4DX





REGISTERED NUMBER: 10406353 (England and Wales)





ACCOUNTANTS: Asquith & Co Accountants Limited
Rowan House
7 West Bank
SCARBOROUGH
North Yorkshire
YO12 4DX

Killerby Estates Limited (Registered number: 10406353)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 82,500 99,000
Tangible assets 5 445,042 467,942
Investment property 6 4,269,862 3,560,435
4,797,404 4,127,377

CURRENT ASSETS
Stocks 104,202 46,747
Debtors 7 42,655 21,983
Cash at bank 7 3,390
146,864 72,120
CREDITORS
Amounts falling due within one year 8 1,090,678 973,987
NET CURRENT LIABILITIES (943,814 ) (901,867 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,853,590

3,225,510

CREDITORS
Amounts falling due after more than one
year

9

(1,091,042

)

(1,144,085

)

PROVISIONS FOR LIABILITIES (564,156 ) (416,641 )
NET ASSETS 2,198,392 1,664,784

CAPITAL AND RESERVES
Called up share capital 4 4
Fair value reserve 11 2,279,211 1,716,035
Retained earnings (80,823 ) (51,255 )
SHAREHOLDERS' FUNDS 2,198,392 1,664,784

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Killerby Estates Limited (Registered number: 10406353)

Balance Sheet - continued
31 March 2024


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 2 September 2024 and were signed on its behalf by:





Mr S Pye - Director


Killerby Estates Limited (Registered number: 10406353)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Killerby Estates Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance, 15% on reducing balance and 10% on cost

Investment property
Investment properties are held to earn rental and letting income.

Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in fair value of investment properties are recognised in the fair value reserve in the period in which they arise. Deferred taxation is provided on these gains at the rate expected to apply when the properties are sold.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


Killerby Estates Limited (Registered number: 10406353)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 165,000
AMORTISATION
At 1 April 2023 66,000
Charge for year 16,500
At 31 March 2024 82,500
NET BOOK VALUE
At 31 March 2024 82,500
At 31 March 2023 99,000

Killerby Estates Limited (Registered number: 10406353)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 610,538
Additions 59,862
Disposals (11,600 )
At 31 March 2024 658,800
DEPRECIATION
At 1 April 2023 142,596
Charge for year 74,381
Eliminated on disposal (3,219 )
At 31 March 2024 213,758
NET BOOK VALUE
At 31 March 2024 445,042
At 31 March 2023 467,942

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 60,705
DEPRECIATION
At 1 April 2023 15,176
Charge for year 11,382
At 31 March 2024 26,558
NET BOOK VALUE
At 31 March 2024 34,147
At 31 March 2023 45,529

Killerby Estates Limited (Registered number: 10406353)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 3,560,435
Additions 14,148
Revaluations 695,279
At 31 March 2024 4,269,862
NET BOOK VALUE
At 31 March 2024 4,269,862
At 31 March 2023 3,560,435

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2021 350,000
Valuation in 2022 1,221,186
Valuation in 2023 547,377
Valuation in 2024 695,279
Cost 1,456,020
4,269,862

If the investment properties had not been revalued they would have been included at the following historical cost:

31.3.24 31.3.23
£    £   
Cost 1,456,020 1,441,872

Investment property was valued on an open market basis on 9 July 2024 by the directors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 34,963 5,815
Other debtors 7,692 16,168
42,655 21,983

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 127,674 47,024
Hire purchase contracts 6,784 7,117
Trade creditors 63,233 92,194
Taxation and social security 36,872 3,663
Other creditors 856,115 823,989
1,090,678 973,987

Killerby Estates Limited (Registered number: 10406353)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 1,042,395 1,088,987
Hire purchase contracts 48,647 55,098
1,091,042 1,144,085

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 1,086,241 1,130,311

The bank loan is secured by a fixed and floating charge over the company's assets.

11. RESERVES
Fair
value
reserve
£   
At 1 April 2023 1,716,035
Revaluation in year 563,176

At 31 March 2024 2,279,211

12. RELATED PARTY DISCLOSURES

At the year end £25,552 was owed from Killerby Estates Limited to SP Plumbing Limited, of which Mr S Pye and Mrs B Pye are both directors and shareholders (2023: £33,330). The loan is interest free and is repayable on demand.

At the year end £4,603 was owed from Killerby Estates Limited to Smoothflo Fightwear Limited, of which Mr S Pye and Mrs B Pye are both directors and shareholders (2023: £82 owed from Smoothflo Fightwear Limited). The loan is interest free and is repayable on demand.

At the year end £263,548 was owed from Killerby Estates Limited to Peasholm Estates Limited, of which Mr S Pye and Mrs B Pye are both directors and shareholders (2023: £134,000). The loan is interest free and is repayable on demand.

At the year end £1,000 was owed from Nine Eighty Bar & Bistro Limited to Killerby Estates Limited, of which Mr S Pye and Mrs B Pye are both directors and shareholders (2023: NIL). The loan is interest free and is repayable on demand.