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Registered number: 06241732














KNBY LND PR1 LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

 
KNBY LND PR1 LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1
Notes to the Financial Statements
 
2 - 6


 
KNBY LND PR1 LIMITED
REGISTERED NUMBER:06241732

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible fixed assets
 4 
332,083
348,788

Current assets
  

Debtors: amounts falling due within one year
 5 
965,666
957,470

Cash at bank and in hand
  
26,643
15,213

  
992,309
972,683

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(2,735,030)
(2,709,828)

Net current liabilities
  
 
 
(1,742,721)
 
 
(1,737,145)

  

Net liabilities
  
(1,410,638)
(1,388,357)


Capital and reserves
  

Called up share capital 
 7 
1
1

Profit and loss account
  
(1,410,639)
(1,388,358)

  
(1,410,638)
(1,388,357)


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 11 September 2024.




S Pakula
Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
KNBY LND PR1 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

KNBY LND PR1 Limited is a private company, limited by shares, incorporated in England and Wales. Its registered and business address is Bob Bob Ricard, 1-3 Upper James Street, London, W1F 9DF.
The principal activity of the company is the rental of a restaurant property to a fellow group company.
The functional and presentational currency of the Company is £ Sterling. 

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Company made a loss for the year and at the reporting date had net current liabilities and net liabilities. The principal activity of the Company is the rental of a property used in the restaurant trade of a fellow group company. The directors of the Company have obtained assurances from the parent company that it has the ability and will provide financial support to the Company, so that the Company is able to meet its obligations as and when they fall due. On this basis the directors consider it appropriate to adopt the going concern basis in preparing the accounts.

 
2.3

Revenue

Turnover comprises rent receivable, net of VAT. 
Rent is recognised in the period to which it relates. Rent received in advance is carried forward as deferred income.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. 
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.5

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.

 
2.6

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.

Page 2

 
KNBY LND PR1 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Short-term leasehold property
-
over the period of the lease

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 the Statement of Comprehensive Income.

 
2.7

Debtors

Short term debtors are measured at the transaction price.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and trade creditors and loans to and from related parties.

 
2.9

Creditors

Short term creditors are measured at the transaction price.

 
2.10

Operating leases: the Company as lessee

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

 
2.11

Taxation

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 reporting 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 Statement of Financial Position 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.

Page 3

 
KNBY LND PR1 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

3.


Employees

The Company has no employees other than the directors, who did not receive any remuneration (2022 - £NIL).


4.


Tangible fixed assets





Short-term leasehold property

£



Cost


At 1 July 2022
714,211



At 30 June 2023

714,211



Depreciation


At 1 July 2022
365,423


Charge for the year on owned assets
16,705



At 30 June 2023

382,128



Net book value



At 30 June 2023
332,083



At 30 June 2022
348,788


5.


Debtors

2023
2022
£
£


Trade debtors
-
3,629

Amounts owed by group undertakings
796,485
710,520

Other debtors
61
72,748

Prepayments and accrued income
169,120
170,573

965,666
957,470


Page 4

 
KNBY LND PR1 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
34,006
4,046

Amounts owed to group undertakings
2,523,557
2,519,633

Accruals and deferred income
177,467
186,149

2,735,030
2,709,828



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1.00
1
1



8.


Commitments under operating leases

At 30 June 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
690,311
690,311

Later than 1 year and not later than 5 years
2,761,244
2,761,244

Later than 5 years
9,554,531
10,182,087

13,006,086
13,633,642


9.


Guarantee

There is a fixed and floating charge on the Company's assets in respect of bank borrowings by a related company.


10.


Controlling party

The immediate parent undertaking is KNBY (UK) Limited, a company registered in England and Wales. It is the smallest group of which the Company is a member, and for which group accounts are made up and publicly available.

Page 5

 
KNBY LND PR1 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

11.


Auditors' information

The auditors' report on the financial statements for the year ended 30 June 2023 was unqualified.

The audit report was signed on 24 September 2024 by Stephen Iseman FCA (Senior Statutory Auditor) on behalf of Sopher + Co LLP.

 
Page 6