Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30The principal activity of the company is that of property investmentfalse2023-07-01truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11345744 2023-07-01 2024-06-30 11345744 2024-06-30 11345744 2023-06-30 11345744 c:Director3 2023-07-01 2024-06-30 11345744 d:LeaseholdInvestmentProperty 2024-06-30 11345744 d:LeaseholdInvestmentProperty 2023-06-30 11345744 d:CurrentFinancialInstruments 2024-06-30 11345744 d:CurrentFinancialInstruments 2023-06-30 11345744 d:Non-currentFinancialInstruments 2024-06-30 11345744 d:Non-currentFinancialInstruments 2023-06-30 11345744 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 11345744 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 11345744 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 11345744 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 11345744 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-06-30 11345744 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-06-30 11345744 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-06-30 11345744 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-06-30 11345744 d:ShareCapital 2024-06-30 11345744 d:ShareCapital 2023-06-30 11345744 d:OtherMiscellaneousReserve 2024-06-30 11345744 d:OtherMiscellaneousReserve 2023-06-30 11345744 d:RetainedEarningsAccumulatedLosses 2024-06-30 11345744 d:RetainedEarningsAccumulatedLosses 2023-06-30 11345744 c:OrdinaryShareClass1 2023-07-01 2024-06-30 11345744 c:OrdinaryShareClass1 2024-06-30 11345744 c:OrdinaryShareClass2 2023-07-01 2024-06-30 11345744 c:OrdinaryShareClass2 2024-06-30 11345744 c:OrdinaryShareClass3 2023-07-01 2024-06-30 11345744 c:OrdinaryShareClass3 2024-06-30 11345744 c:OrdinaryShareClass4 2023-07-01 2024-06-30 11345744 c:OrdinaryShareClass4 2024-06-30 11345744 c:FRS102 2023-07-01 2024-06-30 11345744 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 11345744 c:FullAccounts 2023-07-01 2024-06-30 11345744 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 11345744 c:PublicLimitedCompanyPLCNotQuotedOnAnyExchange 2023-07-01 2024-06-30 11345744 6 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 11345744














WEST KENSINGTON ENTERPRISES LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
WEST KENSINGTON ENTERPRISES LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 7


 
WEST KENSINGTON ENTERPRISES LIMITED
REGISTERED NUMBER:11345744

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
25
25

Investment property
 5 
9,235,000
9,235,000

  
9,235,025
9,235,025

Current assets
  

Debtors: amounts falling due within one year
 6 
53,541
81,659

Cash at bank and in hand
 7 
4,064
694

  
57,605
82,353

Creditors: amounts falling due within one year
 8 
(687,805)
(5,144,091)

Net current liabilities
  
 
 
(630,200)
 
 
(5,061,738)

Total assets less current liabilities
  
8,604,825
4,173,287

Creditors: amounts falling due after more than one year
 9 
(4,712,795)
(300,000)

  

Net assets
  
3,892,030
3,873,287


Capital and reserves
  

Called up share capital 
 11 
3,824,474
3,824,474

Non-distributable profit and loss reserve
  
21,503
21,503

Profit and loss account
  
46,053
27,310

  
3,892,030
3,873,287


1

 
WEST KENSINGTON ENTERPRISES LIMITED
REGISTERED NUMBER:11345744
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 profit and loss account 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 by: 




................................................
B Kennedy
Director

Date: 25 September 2024

The notes on pages 3 to 7 form part of these financial statements.

2

 
WEST KENSINGTON ENTERPRISES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

West Kensington Enterprises Limited is a private company, limited by shares, registered in England and Wales, registration number 11345744.
The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.
The principal activity of the company is that of property investment.
 
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 company is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking and not about its group.
The company's functional and presentational currency is pound sterling.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover from rental of property investments is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

 
2.3

Finance costs

Finance costs are charged to the Profit and loss account 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.

 
2.4

Investment property

Investment property is carried at fair value determined annually by external valuers or directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Profit and loss account. 

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and loss account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

3

 
WEST KENSINGTON ENTERPRISES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.6

 Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.7

 Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.8

 Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

 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 creditors, loans from banks and  related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Fixed asset investments





Investments in subsidiary companies
Other fixed asset investments
Total

£
£
£



Cost or valuation


At 1 July 2023
4
21
25



At 30 June 2024
4
21
25




4

 
WEST KENSINGTON ENTERPRISES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Investment property


Long term leasehold investment property

£



Valuation


At 1 July 2023
9,235,000



At 30 June 2024
9,235,000

The 2024 valuations were made by directors, on an open market value for existing use basis.




6.


Debtors

2024
2023
£
£


Other debtors
26,767
31,772

Prepayments
26,774
49,887

53,541
81,659



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
4,064
694

Less: bank overdrafts
-
(5,261)

4,064
(4,567)


5

 
WEST KENSINGTON ENTERPRISES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
-
5,261

Bank loans
-
4,446,250

Trade creditors
19,159
3,071

Other taxation and social security
-
1,455

Other creditors
469,332
537,696

Accruals and deferred income
199,314
150,358

687,805
5,144,091


The bank loan of £NIL (2023 - £4,446,250) included in creditors due within one year is secured by a fixed and floating charges over the company's properties.
 

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
4,712,795
300,000


The bank loans of £4,712,795 (2023 - £300,000) are secured by fixed and floating charges over the company's properties.


10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
-
4,446,250


Amounts falling due 2-5 years

Bank loans
4,412,795
-

Amounts falling due after more than 5 years

Bank loans
300,000
300,000

4,712,795
4,746,250


6

 
WEST KENSINGTON ENTERPRISES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



900 Ordinary shares of £1.00 each
900
900
200 A Ordinary shares of £1.00 each
200
200
700 B Ordinary shares of £1.00 each
700
700
3,822,674 Preference shares of £1.00 each
3,822,674
3,822,674

3,824,474

3,824,474



12.Directors' personal guarantees

The bank loan facility is secured by a personal guarantee by Eithne Kennedy and Brian Kennedy (who are directors and shareholders of the company) for the sum of £480,000.

13.


Related party transactions

As at the period end, the directors were owed £351,088 (2023 - £426,316). The loan is repayable on demand and interest free. 
 
7