Company registration number 04615726 (England and Wales)
KHP SECURITIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
KHP SECURITIES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
KHP SECURITIES LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
1,542,537
1,542,537
Current assets
Debtors
4
446,588
456,341
Creditors: amounts falling due within one year
5
(1,431,669)
(1,440,748)
Net current liabilities
(985,081)
(984,407)
Net assets
557,456
558,130
Capital and reserves
Called up share capital
6
118,250
118,250
Share premium account
1,125
1,125
Capital redemption reserve
6,750
6,750
Profit and loss reserves
431,331
432,005
Total equity
557,456
558,130

For the financial year ended 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 of its financial statements for the year in question in accordance with section 476.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 22 October 2024 and are signed on its behalf by:
Mr G M Davies
Director
Company registration number 04615726 (England and Wales)
KHP SECURITIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 2 -
1
Accounting policies
Company information

KHP Securities Limited is a private company limited by shares incorporated in England and Wales. The registered office is Suite 1, Laval House, Great West Quarter, Great West Road, Brentford, TW8 0GL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

KHP SECURITIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 3 -
Classification of financial liabilities

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

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
3
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
1,542,537
1,542,537
KHP SECURITIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 4 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
446,588
456,341

Amounts owed by group undertakings is interest free and repayable on demand.

5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
8,731
66,043
Trade creditors
253,106
218,890
Amounts owed to group undertakings
1,129,080
1,129,530
Corporation tax
-
0
4,116
Other taxation and social security
14,343
13,946
Other creditors
26,409
8,223
1,431,669
1,440,748

Amounts due to group undertakings is interest free and repayable on demand.

6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
118,250
118,250
118,250
118,250

Each ordinary share carries one vote in general meetings, entitlement to dividends should there be sufficient profits and entitlement to a return of capital on liquidation or otherwise once liabilities have been discharged.

7
Ultimate controlling party

There is no ultimate controlling party.

KHP SECURITIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 5 -
8
Related party transactions

The company has taken advantage of the exemption given in FRS 102 not to disclose transactions with entities that are wholly owned within the Group.

 

During the year the company made net management recharges of £10,389 (2023: £10,237) to a subsidiary in which the company has an 85% interest. At the balance sheet date the company had trade debtors of £7,196 (2023: £9,576) due from this company.

2024-01-312023-02-01false22 October 2024CCH SoftwareCCH Accounts Production 2024.210No description of principal activityMr G M DaviesMs P ArmstrongMr P J NichollsMr P Taylor- WrightMr J ThomasJ MossMr P J Nichollsfalsefalse046157262023-02-012024-01-31046157262024-01-31046157262023-01-3104615726core:CurrentFinancialInstrumentscore:WithinOneYear2024-01-3104615726core:CurrentFinancialInstrumentscore:WithinOneYear2023-01-3104615726core:CurrentFinancialInstruments2024-01-3104615726core:CurrentFinancialInstruments2023-01-3104615726core:ShareCapital2024-01-3104615726core:ShareCapital2023-01-3104615726core:SharePremium2024-01-3104615726core:SharePremium2023-01-3104615726core:CapitalRedemptionReserve2024-01-3104615726core:CapitalRedemptionReserve2023-01-3104615726core:RetainedEarningsAccumulatedLosses2024-01-3104615726core:RetainedEarningsAccumulatedLosses2023-01-3104615726bus:Director12023-02-012024-01-31046157262022-02-012023-01-3104615726bus:PrivateLimitedCompanyLtd2023-02-012024-01-3104615726bus:SmallCompaniesRegimeForAccounts2023-02-012024-01-3104615726bus:FRS1022023-02-012024-01-3104615726bus:AuditExemptWithAccountantsReport2023-02-012024-01-3104615726bus:Director22023-02-012024-01-3104615726bus:Director32023-02-012024-01-3104615726bus:Director42023-02-012024-01-3104615726bus:Director52023-02-012024-01-3104615726bus:Director62023-02-012024-01-3104615726bus:CompanySecretary12023-02-012024-01-3104615726bus:FullAccounts2023-02-012024-01-31xbrli:purexbrli:sharesiso4217:GBP