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Registered number: 13863282
KIBCO HOLDINGS LTD
Unaudited Financial Statements
For The Year Ended 31 January 2024
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 13863282
31 January 2024 31 January 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 443,472 449,241
Investments 5 168,503 168,503
611,975 617,744
CURRENT ASSETS
Debtors 6 20,254 2,250
Cash at bank and in hand 10,815 42,535
31,069 44,785
Creditors: Amounts Falling Due Within One Year 7 (622,938 ) (654,741 )
NET CURRENT ASSETS (LIABILITIES) (591,869 ) (609,956 )
TOTAL ASSETS LESS CURRENT LIABILITIES 20,106 7,788
PROVISIONS FOR LIABILITIES
Deferred Taxation (329 ) -
NET ASSETS 19,777 7,788
CAPITAL AND RESERVES
Called up share capital 8 100 100
Income Statement 19,677 7,688
SHAREHOLDERS' FUNDS 19,777 7,788
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For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr P Kibel
Director
21/10/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
KIBCO HOLDINGS LTD is a private company, limited by shares, incorporated in England & Wales, registered number 13863282 . The registered office is Unit 1a Webbers Way, Dartington, Totnes, TQ9 6JY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Property 2% reducing balance
Land Not depreciated
Plant & Machinery 25% reducing balance
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.  The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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2.4. Financial Instruments
Financial Instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
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4. Tangible Assets
Land & Property
Property Land Plant & Machinery Total
£ £ £ £
Cost
As at 1 February 2023 440,298 17,764 - 458,062
Additions 1,140 - 2,339 3,479
As at 31 January 2024 441,438 17,764 2,339 461,541
Depreciation
As at 1 February 2023 8,821 - - 8,821
Provided during the period 8,638 - 610 9,248
As at 31 January 2024 17,459 - 610 18,069
Net Book Value
As at 31 January 2024 423,979 17,764 1,729 443,472
As at 1 February 2023 431,477 17,764 - 449,241
5. Investments
Unlisted
£
Cost
As at 1 February 2023 168,503
As at 31 January 2024 168,503
Provision
As at 1 February 2023 -
As at 31 January 2024 -
Net Book Value
As at 31 January 2024 168,503
As at 1 February 2023 168,503
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6. Debtors
31 January 2024 31 January 2023
£ £
Due within one year
Trade debtors 17,539 2,000
Prepayments and accrued income 250 250
Other debtors 2,465 -
20,254 2,250
7. Creditors: Amounts Falling Due Within One Year
31 January 2024 31 January 2023
£ £
Trade creditors 2,316 92
Corporation tax 4,509 3,941
VAT 962 803
Other creditors 6,977 -
Accruals and deferred income 2,275 2,006
Directors' loan accounts 605,899 647,899
622,938 654,741
8. Share Capital
31 January 2024 31 January 2023
£ £
Allotted, Called up and fully paid 100 100
9. Contingent Liabilities
There is a fixed and floating charge dated 24 March 2023 in respect of Lloyds Bank Plc.
10. Related Party Transactions
The rent income was from related parties, £20,000 Fishtek Limited and £15,000 Fishtek Marine Limited.
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