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REGISTERED NUMBER: 00542980 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

KEN TEA COMPANY LIMITED

KEN TEA COMPANY LIMITED (REGISTERED NUMBER: 00542980)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KEN TEA COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mrs J.R. Dean
Miss R Dean





REGISTERED OFFICE: Second Floor South
The Fitted Rigging House
Anchor Wharf, The Historic Dockyard
Chatham
Kent
ME4 4TZ





REGISTERED NUMBER: 00542980 (England and Wales)





ACCOUNTANTS: Carleys
Second Floor South
The Fitted Rigging House
The Historic Dockyard
Chatham
Kent
ME4 4TZ

KEN TEA COMPANY LIMITED (REGISTERED NUMBER: 00542980)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 45,434 44,887
Investment property 5 478,400 478,400
523,834 523,287

CURRENT ASSETS
Debtors 6 5,887 7,758
Cash at bank 39,337 23,325
45,224 31,083
CREDITORS
Amounts falling due within one year 7 12,187 12,029
NET CURRENT ASSETS 33,037 19,054
TOTAL ASSETS LESS CURRENT
LIABILITIES

556,871

542,341

PROVISIONS FOR LIABILITIES 26,122 26,017
NET ASSETS 530,749 516,324

CAPITAL AND RESERVES
Called up share capital 8 100 100
Revaluation reserve 36,381 36,381
Fair value reserve 392,991 392,991
Retained earnings 101,277 86,852
SHAREHOLDERS' FUNDS 530,749 516,324

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.

KEN TEA COMPANY LIMITED (REGISTERED NUMBER: 00542980)

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 24 September 2024 and were signed on its behalf by:





Mrs J.R. Dean - Director


KEN TEA COMPANY LIMITED (REGISTERED NUMBER: 00542980)

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


1. STATUTORY INFORMATION

Ken Tea Company 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided
Plant and machinery etc - 15% on reducing balance

The company's land and buildings included within tangible assets are valued at fair value.

Investment property
Investment properties are included in the financial statements at fair value. Gains and losses are recognised in the income statement. Deferred taxation is provided on these gains and losses at the rate expected to apply when the properties are sold.

Current and deferred 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.

Deferred tax balances are recognised in respect of timing differences that have originated but not reversed by the balance sheet date.

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.

3. EMPLOYEES AND DIRECTORS

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

KEN TEA COMPANY LIMITED (REGISTERED NUMBER: 00542980)

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


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 41,600 5,840 47,440
Additions - 1,560 1,560
At 31 December 2023 41,600 7,400 49,000
DEPRECIATION
At 1 January 2023 - 2,553 2,553
Charge for year - 1,013 1,013
At 31 December 2023 - 3,566 3,566
NET BOOK VALUE
At 31 December 2023 41,600 3,834 45,434
At 31 December 2022 41,600 3,287 44,887

Cost or valuation at 31 December 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 1990 14,086 - 14,086
Valuation in 2003 7,095 - 7,095
Valuation in 2009 13,600 - 13,600
Valuation in 2017 2,000 - 2,000
Valuation in 2021 (400 ) - (400 )
Cost 5,219 7,400 12,619
41,600 7,400 49,000

If freehold property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 5,218 5,218

The freehold property was valued on an open market basis on 31 December 2023 by the directors .

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 478,400
NET BOOK VALUE
At 31 December 2023 478,400
At 31 December 2022 478,400

KEN TEA COMPANY LIMITED (REGISTERED NUMBER: 00542980)

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


5. INVESTMENT PROPERTY - continued

Fair value at 31 December 2023 is represented by:
£   
Valuation in 1990 161,995
Valuation in 2003 81,593
Valuation in 2009 156,400
Valuation in 2017 23,000
Valuation in 2021 (4,600 )
Cost 60,012
478,400

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 60,012 60,012

Investment property was valued on an open market basis on 31 December 2023 by the directors .

The investment properties have been measured at fair value which is the open market value of the properties. The fair value adjustment has been taken through to the Income Statement.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,110 4,366
Other debtors 3,777 3,392
5,887 7,758

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 4,569 1,340
Other creditors 7,618 10,689
12,187 12,029

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
51 Ordinary A £1 51 51
49 Ordinary B £1 49 49
100 100