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Registered number: 11418124









KINGWELL CAPITAL LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
KINGWELL CAPITAL LIMITED
REGISTERED NUMBER: 11418124

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
137
275

Investments
 5 
2,992,075
2,697,251

  
2,992,212
2,697,526

Current assets
  

Debtors: amounts falling due within one year
 6 
98,313
79,915

Cash at bank and in hand
 7 
31,685
55,652

  
129,998
135,567

Creditors: amounts falling due within one year
 8 
(63,720)
(61,800)

Net current assets
  
 
 
66,278
 
 
73,767

Total assets less current liabilities
  
3,058,490
2,771,293

Creditors: amounts falling due after more than one year
 9 
(2,495,400)
(2,527,400)

Provisions for liabilities
  

Deferred tax
 10 
(80,711)
-

  
 
 
(80,711)
 
 
-

Net assets
  
482,379
243,893


Capital and reserves
  

Called up share capital 
  
180
180

Profit and loss account
 11 
482,199
243,713

  
482,379
243,893


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.
 
Page 1

 
KINGWELL CAPITAL LIMITED
REGISTERED NUMBER: 11418124
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024


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 income and retained earnings 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 4 October 2024.




Mr A Emery
Director

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

Page 2

 
KINGWELL CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Kingwell Capital Limited is a private company limited by shares and incorporated in England and Wales. its registered office is 30 Orange Street, London, WC2H 7HF.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Interest income

Interest income is recognised in the Statement of income and retained earnings on a received basis.

 
2.3

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.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
20%
Straight Line

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 profit or loss.

Page 3

 
KINGWELL CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Valuation of investments

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.7

Debtors

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

 
2.8

Cash

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

 
2.9

Creditors

Short term creditors are measured at the transaction price.

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 reporting 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.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees




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

Page 4

 
KINGWELL CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 April 2023
689



At 31 March 2024

689



Depreciation


At 1 April 2023
414


Charge for the year on owned assets
138



At 31 March 2024

552



Net book value



At 31 March 2024
137



At 31 March 2023
275


5.


Fixed asset investments





Listed investments

£



Cost or valuation


At 1 April 2023
2,697,251


Additions
589,318


Disposals
(644,113)


Revaluations
349,619



At 31 March 2024
2,992,075




Page 5

 
KINGWELL CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£


Kingwell Capital Partners LP
96,667
71,667

Directors Loan Account
1,212
2,112

Corporation tax repayable
434
858

Deferred taxation
-
5,278

98,313
79,915



7.


Cash

2024
2023
£
£

Cash at bank
31,685
55,652

31,685
55,652



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
1,860
-

Loan note A
60,000
60,000

Accruals
1,860
1,800

63,720
61,800


Page 6

 
KINGWELL CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
650,000
650,000

Loan note A
635,400
667,400

Loan note C
180,000
180,000

Loan note D
180,000
180,000

Loan note F
425,000
425,000

Loan note G
425,000
425,000

2,495,400
2,527,400


Loan note A has priority of repayment over the other loan notes unless the holders of Loan note A agrees otherwise. Loan note A has a term of 20 years with no interest charged.
Loan note's B-G are subordinated behind Loan note A. They are not interest bearing and are repayable over 25 years.


10.


Deferred taxation




2024


£






At beginning of year
5,278


Charged to profit or loss
(85,989)



At end of year
(80,711)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Revaluation losses / (gains)
(80,712)
5,278

(80,712)
5,278


11.


Reserves

Profit and loss account

This includes net unrealised gains of £242,136 which are not distributable reserves.

Page 7