Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-05-032024-03-312024-05-03false2023-04-01falseNo description of principal activity33truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00649947 2023-04-01 2024-03-31 00649947 2022-04-01 2023-03-31 00649947 2024-03-31 00649947 2023-03-31 00649947 c:Director1 2023-04-01 2024-03-31 00649947 d:FurnitureFittings 2023-04-01 2024-03-31 00649947 d:OfficeEquipment 2023-04-01 2024-03-31 00649947 d:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 00649947 d:OtherPropertyPlantEquipment 2024-03-31 00649947 d:OtherPropertyPlantEquipment 2023-03-31 00649947 d:FreeholdInvestmentProperty 2024-03-31 00649947 d:FreeholdInvestmentProperty 2023-03-31 00649947 d:CurrentFinancialInstruments 2024-03-31 00649947 d:CurrentFinancialInstruments 2023-03-31 00649947 d:Non-currentFinancialInstruments 2024-03-31 00649947 d:Non-currentFinancialInstruments 2023-03-31 00649947 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 00649947 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 00649947 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 00649947 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 00649947 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 00649947 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 00649947 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 00649947 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 00649947 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-03-31 00649947 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 00649947 d:ShareCapital 2024-03-31 00649947 d:ShareCapital 2023-03-31 00649947 d:RetainedEarningsAccumulatedLosses 2024-03-31 00649947 d:RetainedEarningsAccumulatedLosses 2023-03-31 00649947 c:FRS102 2023-04-01 2024-03-31 00649947 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 00649947 c:FullAccounts 2023-04-01 2024-03-31 00649947 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 00649947 d:OtherDeferredTax 2024-03-31 00649947 d:OtherDeferredTax 2023-03-31 00649947 2 2023-04-01 2024-03-31 00649947 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 00649947










K.G.T INVESTMENT COMPANY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
K.G.T INVESTMENT COMPANY LIMITED
 
 
  
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF K.G.T INVESTMENT COMPANY LIMITED
FOR THE YEAR ENDED 31 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of K.G.T Investment Company Limited for the year ended 31 March 2024 which comprise the Statement of financial position and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountantswe are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal .com/uk/en/about-us /regulation/ethics /acca-rulebook.html.

This report is made solely to the Board of directors of K.G.T Investment Company Limited, as a body, in accordance with the terms of our engagement letter dated 21st May 2018Our work has been undertaken solely to prepare for your approval the financial statements of K.G.T Investment Company Limited  and state those matters that we have agreed to state to the Board of directors of K.G.T Investment Company Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal .com/content/dam /ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than K.G.T Investment Company Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that K.G.T Investment Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of K.G.T Investment Company Limited. You consider that K.G.T Investment Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of K.G.T Investment Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Ashleys (Hitchin) Limited
 
Chartered Certified Accountants
  
Invision House
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY
3 May 2024
Page 1

 
K.G.T INVESTMENT COMPANY LIMITED
REGISTERED NUMBER: 00649947

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 5 
1,399,000
1,399,000

  
1,399,000
1,399,000

Current assets
  

Debtors: amounts falling due within one year
 6 
294,463
291,565

Cash at bank and in hand
  
25,747
67,248

  
320,210
358,813

Creditors: amounts falling due within one year
 7 
(80,188)
(143,609)

Net current assets
  
 
 
240,022
 
 
215,204

Total assets less current liabilities
  
1,639,022
1,614,204

Creditors: amounts falling due after more than one year
 8 
(130,918)
(146,042)

Provisions for liabilities
  

Deferred tax
 10 
(205,031)
(154,858)

  
 
 
(205,031)
 
 
(154,858)

Net assets
  
1,303,073
1,313,304


Capital and reserves
  

Called up share capital 
  
2,875
2,875

Profit and loss account
  
1,300,198
1,310,429

  
1,303,073
1,313,304


Page 2

 
K.G.T INVESTMENT COMPANY LIMITED
REGISTERED NUMBER: 00649947
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 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 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 3 May 2024.




N J Theobald
Director

The notes on pages 4 to 12 form part of these financial statements.

Page 3

 
K.G.T INVESTMENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.Accounting policies

 
1.1

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 following principal accounting policies have been applied:

 
1.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
1.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
1.4

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.

 
1.5

Borrowing costs

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

Page 4

 
K.G.T INVESTMENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.Accounting policies (continued)

 
1.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
1.7

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.

 
1.8

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 5

 
K.G.T INVESTMENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.Accounting policies (continued)


1.8
Tangible fixed assets (continued)

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:

Fixtures & Fittings
-
25%
straight-line
Office Equipment
-
25%
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.

 
1.9

Investment property

Investment property is carried at fair value determined annually by external valuers 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 profit or loss.

 
1.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
1.11

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.12

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.

 
1.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 6

 
K.G.T INVESTMENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.Accounting policies (continued)

 
1.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
1.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 7

 
K.G.T INVESTMENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.


General information

KGT Investment Company Limited is a private company, limited by shares, incorporated in England. 
Its registered number is 00649947.
Its Registered Office is:
Invision House
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


4.


Tangible fixed assets





Other fixed assets

£





At 1 April 2023
26,159


Disposals
(26,159)



At 31 March 2024

-





At 1 April 2023
26,159


Disposals
(26,159)



At 31 March 2024

-



Net book value



At 31 March 2024
-



At 31 March 2023
-

Page 8

 
K.G.T INVESTMENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
1,399,000



At 31 March 2024
1,399,000

The 2024 valuations were made by the director on 31st March 2024, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
360,339
360,339

360,339
360,339


6.


Debtors

2024
2023
£
£


Trade debtors
8,250
9,866

Other debtors
285,714
281,271

Prepayments and accrued income
499
428

294,463
291,565


Page 9

 
K.G.T INVESTMENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
17,895
18,378

Corporation tax
18,651
85,080

Other creditors
7,938
11,905

Accruals and deferred income
35,704
28,246

80,188
143,609



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
130,918
146,042

130,918
146,042


Page 10

 
K.G.T INVESTMENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
17,895
18,378


17,895
18,378

Amounts falling due 1-2 years

Bank loans
18,565
18,828


18,565
18,828

Amounts falling due 2-5 years

Bank loans
44,036
50,299


44,036
50,299

Amounts falling due after more than 5 years

Bank loans
68,317
76,915

68,317
76,915

148,813
164,420



10.


Deferred taxation




2024


£






At beginning of year
(154,858)


Charged to profit or loss
(50,173)



At end of year
(205,031)

Page 11

 
K.G.T INVESTMENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
 
10.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Unrealised capital gain on investment properties
(205,031)
(154,858)

(205,031)
(154,858)

 
Page 12