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REGISTERED NUMBER: 01904908 (England and Wales)















K.N. GRANT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






K.N. GRANT LIMITED (REGISTERED NUMBER: 01904908)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 6


K.N. GRANT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mrs P A Cardovillis
N J Cardovillis





REGISTERED OFFICE: Karibu
Peacocks Road
Frithville
Boston
Lincolnshire
PE22 7AL





REGISTERED NUMBER: 01904908 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
5 Resolution Close
Endeavour Park
Boston
Lincolnshire
PE21 7TT

K.N. GRANT LIMITED (REGISTERED NUMBER: 01904908)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 385,018 394,260
Investments 6 1 1
385,019 394,261

CURRENT ASSETS
Valuation 213,281 232,859
Debtors 7 150,222 239,796
Cash at bank 394,007 332,563
757,510 805,218
CREDITORS
Amounts falling due within one year 8 185,133 315,222
NET CURRENT ASSETS 572,377 489,996
TOTAL ASSETS LESS CURRENT LIABILITIES 957,396 884,257

CAPITAL AND RESERVES
Called up share capital 9 100 100
Other reserves 2 2
Retained earnings 957,294 884,155
SHAREHOLDERS' FUNDS 957,396 884,257

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.

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 and authorised for issue by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:





Mrs P A Cardovillis - Director


K.N. GRANT LIMITED (REGISTERED NUMBER: 01904908)

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

1. STATUTORY INFORMATION

K.N. Grant 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.

Turnover
Turnover represents net invoiced and accrued sales of farm crops and basic farm payment excluding value added tax.

Sales of crops are recognised on despatch.

Basic payment scheme entitlements
Intangible assets consist of entitlement to the basic payment scheme. The entitlements are recognised at fair value and written off on a straight line basis over the period to 31 December 2019.

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 - 10% on cost, 2% on cost and not provided
Plant and machinery etc - 20% on reducing balance, 15% on reducing balance and 10% on reducing balance

Tangible assets are held at cost less depreciation.

Valuation
The valuation has been prepared at the lower of the cost and estimated selling price less costs to sell.

Biological assets and living plants are included at the lower of cost and estimated selling price less costs to sell.

Financial instruments
The company has chosen to adopt the FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 statement of financial position date.


K.N. GRANT LIMITED (REGISTERED NUMBER: 01904908)

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

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Investments
Fixed asset investments are stated at cost, unless in the opinion of the directors, there has been an impairment, in which case an appropriate adjustment has been made .

Basic payment scheme
The basic payment scheme is recognised in the financial statements in accordance with current H M Revenue & Customs guidance.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 36,818
AMORTISATION
At 1 January 2023
and 31 December 2023 36,818
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

K.N. GRANT LIMITED (REGISTERED NUMBER: 01904908)

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

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 489,741 116,298 606,039
Additions - 267 267
At 31 December 2023 489,741 116,565 606,306
DEPRECIATION
At 1 January 2023 129,141 82,638 211,779
Charge for year 3,020 6,489 9,509
At 31 December 2023 132,161 89,127 221,288
NET BOOK VALUE
At 31 December 2023 357,580 27,438 385,018
At 31 December 2022 360,600 33,660 394,260

Included in cost of land and buildings is freehold land of £ 302,402 (2022 - £ 302,402 ) which is not depreciated.

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023
and 31 December 2023 1
NET BOOK VALUE
At 31 December 2023 1
At 31 December 2022 1

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 135,260 223,748
Other debtors 14,962 16,048
150,222 239,796

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 9,496 10,722
Other creditors 175,637 304,500
185,133 315,222

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10,000 Ordinary £0.01 100 100

K.N. GRANT LIMITED (REGISTERED NUMBER: 01904908)

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

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mrs P A Cardovillis
Balance outstanding at start of year 4,036 (481 )
Amounts advanced 2,599 4,517
Amounts repaid (4,036 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,599 4,036

The loans made to the directors are unsecured, interest free and repayable on demand.