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REGISTERED NUMBER: 10892243 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

KN Holdings Limited

KN Holdings Limited (Registered number: 10892243)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


KN Holdings Limited (Registered number: 10892243)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Investments 4 2,519,683 2,519,683

CURRENT ASSETS
Debtors 5 4,871 -
Cash at bank 36,632 787,580
41,503 787,580
CREDITORS
Amounts falling due within one year 6 131,135 99,396
NET CURRENT (LIABILITIES)/ASSETS (89,632 ) 688,184
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,430,051

3,207,867

CAPITAL AND RESERVES
Called up share capital 7 259 360
Share premium 1,157,143 1,157,143
Capital redemption reserve 101 -
Retained earnings 1,272,548 2,050,364
SHAREHOLDERS' FUNDS 2,430,051 3,207,867

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.

KN Holdings Limited (Registered number: 10892243)

Balance Sheet - continued
31 December 2023


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 28 June 2024 and were signed on its behalf by:




J P Smith - Director



Mrs J L Wright - Director


KN Holdings Limited (Registered number: 10892243)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

KN Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10892243

Registered office: 4315 Park Approach
Thorpe Park
Leeds
West Yorkshire
LS15 8GB

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 UK and Republic of Ireland" and the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to give a true and fair view.

The financial statements have been prepared under the historical cost convention.

The functional and presentational currency of the company is considered to be pounds sterling.

Preparation of consolidated financial statements
The financial statements contain information about KN Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction costs) unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

The following assets and liabilities are classified as basic financial instruments - cash and bank balances and other creditors. These are measured at the amortised cost equivalent to the undiscounted amount of cash or other consideration expected to be paid or received.

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.

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.

KN Holdings Limited (Registered number: 10892243)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Investment in subsidiaries
Investments in subsidiary undertakings are measured at cost less impairment.

Taxation
Current tax, including UK corporation tax is provided at amounts expected to be paid (or received) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Impairment of assets
Assets are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit and loss as described below.

Non financial assets

An asset is impaired when there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Financial assets

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had the impairment loss not been recognised.

Income from shares in group undertakings

Income from shares in group undertakings is recognised at the point of declaration by the subsidiary company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - NIL ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 2,519,683
NET BOOK VALUE
At 31 December 2023 2,519,683
At 31 December 2022 2,519,683

KN Holdings Limited (Registered number: 10892243)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 4,871 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed to group undertakings 16,600 -
Taxation and social security 91,000 246
Other creditors 23,535 99,150
131,135 99,396

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid shares total £259 (2022 £360).

On 13 March 2023 the company repurchased 101 B ordinary shares of £1 each for a consideration of £1,085,400. These shares were cancelled upon purchase and the nominal value, being £101, has been transferred to the capital redemption reserve.