REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023 |
FOR |
KING HOLDINGS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023 |
FOR |
KING HOLDINGS LIMITED |
KING HOLDINGS LIMITED (REGISTERED NUMBER: 06009405) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
KING HOLDINGS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Windsor House |
40/41 Great Castle Street |
London |
W1W 8LU |
KING HOLDINGS LIMITED (REGISTERED NUMBER: 06009405) |
BALANCE SHEET |
30 NOVEMBER 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
KING HOLDINGS LIMITED (REGISTERED NUMBER: 06009405) |
BALANCE SHEET - continued |
30 NOVEMBER 2023 |
The financial statements were approved by the director and authorised for issue on |
KING HOLDINGS LIMITED (REGISTERED NUMBER: 06009405) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is the total amount receivable by the company excluding Value Added Tax, in the ordinary course of its business and comprises rental income, fees and other income. |
Tangible fixed assets |
Tangible fixed assets are stated at cost less depreciation. Depreciation has been calculated to write off the cost of tangible fixed assets over their expected useful lives at the following rates based on reduced values: |
Leasehold property | Nil |
Fixtures & fittings | 25% |
No depreciation is provided on leasehold property as the director considers that there is no depreciable amount. This accounting policy is a departure from the Companies Act 2006. The director considers that this accounting policy results in the accounts giving a true and fair view. Deprecation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. |
Exchange differences are taken into account in arriving at the operating result, except for exchange differences on foreign currency assets and borrowings and which are taken to revaluation reserve. |
2. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
KING HOLDINGS LIMITED (REGISTERED NUMBER: 06009405) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
3. | TANGIBLE FIXED ASSETS |
Short | Fixtures |
leasehold | & fittings | Totals |
£ | £ | £ |
COST |
At 1 December 2022 |
Additions |
At 30 November 2023 |
DEPRECIATION |
At 1 December 2022 |
Charge for year |
At 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 30 November 2022 |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST OR VALUATION |
At 1 December 2022 |
Revaluations |
At 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 30 November 2022 |
Cost or valuation at 30 November 2023 is represented by: |
Shares in |
group |
undertakings |
£ |
Valuation in 2023 | 539,408 |
Cost | 339,546 |
878,954 |
KING HOLDINGS LIMITED (REGISTERED NUMBER: 06009405) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
4. | FIXED ASSET INVESTMENTS - continued |
The company holds 100% of the ordinary share capital of Enterprise Digital Solutions Ltd, a company which provides business development consultancy services and 100% of the ordinary share capital of Lentar Anstalt, a dormant company. |
The aggregate amount of share capital and reserves of Enterprise Digital Solutions Ltd as at 31 May 2023 was £31,398 (2022: £70,800) and the loss for the year then ended was £19,402 (2022: £12,757). |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed by group undertakings |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Amounts owed to group undertakings |
Director's current account | 349,751 | 221,959 |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans due between |
2 & 5 years |
8. | RESERVES |
Revaluation |
reserve |
£ |
At 1 December 2022 |
Foreign currency asset and borrowing revaluation |
6,694 |
Fixed asset investment revaluation | 226,529 |
At 30 November 2023 |