1 February 2023 false No description of principal activity Taxfiler 2024.6 true 13136821business:PrivateLimitedCompanyLtd2023-02-012024-01-31 131368212023-01-31 131368212023-02-012024-01-31 13136821business:AuditExempt-NoAccountantsReport2023-02-012024-01-31 13136821business:FilletedAccounts2023-02-012024-01-31 131368212024-01-31 13136821business:Director12023-02-012024-01-31 13136821business:Director22023-02-012024-01-31 13136821business:RegisteredOffice2023-02-012024-01-31 131368212023-01-31 13136821core:WithinOneYear2024-01-31 13136821core:WithinOneYear2023-01-31 13136821core:AfterOneYear2024-01-31 13136821core:AfterOneYear2023-01-31 13136821core:ShareCapitalcore:PreviouslyStatedAmount2024-01-31 13136821core:ShareCapitalcore:PreviouslyStatedAmount2023-01-31 13136821core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-01-31 13136821core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-01-31 13136821core:PreviouslyStatedAmount2024-01-31 13136821core:PreviouslyStatedAmount2023-01-31 13136821business:SmallEntities2023-02-012024-01-31 13136821countries:EnglandWales2023-02-012024-01-31 13136821business:OrdinaryShareClass12023-02-012024-01-31 13136821business:OrdinaryShareClass12022-02-012023-01-31 131368212022-02-012023-01-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 13136821 (England and Wales)
Karenor Partners Ltd Unaudited accounts for the year ended 31 January 2024
Karenor Partners Ltd Unaudited accounts Contents
Page
- 2 -
Karenor Partners Ltd Company Information for the year ended 31 January 2024
Directors
Mr Martin Hudec Karenor Rugby LLP
Company Number
13136821 (England and Wales)
Registered Office
62 Grosvenor Street London W1K 3JF
- 3 -
Karenor Partners Ltd Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investment property
9,632,719 
9,362,176 
Current assets
Debtors
53,872 
122,021 
Cash at bank and in hand
6,662 
167 
60,534 
122,188 
Creditors: amounts falling due within one year
(5,863,951)
(5,299,937)
Net current liabilities
(5,803,417)
(5,177,749)
Total assets less current liabilities
3,829,302 
4,184,427 
Creditors: amounts falling due after more than one year
(4,491,958)
(4,616,788)
Net liabilities
(662,656)
(432,361)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(662,756)
(432,461)
Shareholders' funds
(662,656)
(432,361)
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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2024 and were signed on its behalf by
Mr Martin Hudec Director Company Registration No. 13136821
- 4 -
Karenor Partners Ltd Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
Karenor Partners Ltd is a private company, limited by shares, registered in England and Wales, registration number 13136821. The registered office is 62 Grosvenor Street, London, W1K 3JF.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Judgements and key sources of estimation uncertainty
In the application of the Company's accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The Directors do not consider there are any critical judgments or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed below.
Going concern
Notwithstanding the adverse financial position of the company, the Financial Statements have been prepared in accordance with the accounting principles appropriate to a going concern. This being dependant upon the continued provision of financial support by the company's creditors in respect of which the directors are confident that continued support will be made available or alternative facilities could be obtained.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
- 5 -
Karenor Partners Ltd Notes to the Accounts for the year ended 31 January 2024
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Investment property
2024 
£ 
Fair value at 1 February 2023
9,362,176 
Additions
270,543 
At 31 January 2024
9,632,719 
The investment property is stated at director's estimation of open market value.
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
53,872 
121,921 
Other debtors
- 
100 
53,872 
122,021 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
- 
14 
VAT
19,310 
25,864 
Trade creditors
- 
4,659 
Amounts owed to group undertakings and other participating interests
4,706,267 
4,709,862 
Other creditors
1,135,374 
556,538 
Accruals
3,000 
3,000 
5,863,951 
5,299,937 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
4,191,958 
4,316,788 
Amounts owed to group undertakings and other participating interests
300,000 
300,000 
4,491,958 
4,616,788 
- 6 -
Karenor Partners Ltd Notes to the Accounts for the year ended 31 January 2024
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
9
Transactions with related parties
The company has taken advantage of the exemptions conferred by FRS 102 Section 1A and has not disclosed details of transactions with group member undertakings.
10
Controlling party
The company was controlled throughout the period by Karenor Rugby LLP, a company registered in England & Wales.
11
Average number of employees
During the year the average number of employees was 1 (2023: 1).
- 7 -