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KFF HOLDINGS LTD

Unaudited Financial Statements

for the Year Ended 29th February 2024






KFF HOLDINGS LTD (REGISTERED NUMBER: 13917026)






Contents of the Financial Statements
for the year ended 29th February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KFF HOLDINGS LTD

Company Information
for the year ended 29th February 2024







DIRECTORS: J Farrer-Newey
Ms G Korrison





REGISTERED OFFICE: 1 Abbots Quay
Monks Ferry
Birkenhead
CH41 5LH





REGISTERED NUMBER: 13917026 (England and Wales)






KFF HOLDINGS LTD (REGISTERED NUMBER: 13917026)

Balance Sheet
29th February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 342,500 255,000

CURRENT ASSETS
Debtors 5 1,233 4,244
Cash at bank 24,218 121,787
25,451 126,031
CREDITORS
Amounts falling due within one year 6 393,392 380,505
NET CURRENT LIABILITIES (367,941 ) (254,474 )
TOTAL ASSETS LESS CURRENT LIABILITIES (25,441 ) 526

PROVISIONS FOR LIABILITIES - 934
NET LIABILITIES (25,441 ) (408 )

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 7 - 4,983
Retained earnings (25,443 ) (5,393 )
(25,441 ) (408 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

KFF HOLDINGS LTD (REGISTERED NUMBER: 13917026)

Balance Sheet - continued
29th February 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29th November 2024 and were signed on its behalf by:





J Farrer-Newey - Director


KFF HOLDINGS LTD (REGISTERED NUMBER: 13917026)

Notes to the Financial Statements
for the year ended 29th February 2024

1. STATUTORY INFORMATION

KFF Holdings Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other
factors, including expectations of future events that are believed to be reasonable under the circumstances.

The estimates and assumptions that have a high risk of causing a material adjustment to the carrying amount
of assets and liabilities within the next financial year are:

Investment properties are reviewed annually and are revalued in line with managements' opinion of the
value of those properties at each balance sheet date. The revaluation is based on historical experience as
well as considering future events which may impact the value of investment property, such as changes in
market demands.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Debtors, creditors and directors loan (being repayable on demand) are measured at the undiscounted
amount of cash or other consideration expected to be paid or received.

Debtors
Short term debtors are measured at transaction price, less any impairment.

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.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

KFF HOLDINGS LTD (REGISTERED NUMBER: 13917026)

Notes to the Financial Statements - continued
for the year ended 29th February 2024

2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st March 2023 255,000
Additions 113,909
Revaluations (26,409 )
At 29th February 2024 342,500
NET BOOK VALUE
At 29th February 2024 342,500
At 28th February 2023 255,000

Fair value at 29th February 2024 is represented by:
£   
Valuation in 2023 5,917
Valuation in 2024 (26,409 )
Cost 362,992
342,500

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 1,125 4,244
Prepayments 108 -
1,233 4,244

KFF HOLDINGS LTD (REGISTERED NUMBER: 13917026)

Notes to the Financial Statements - continued
for the year ended 29th February 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 12,456 1,125
Directors' current accounts 379,602 378,300
Accruals and deferred income 200 -
Accrued expenses 1,134 1,080
393,392 380,505

7. RESERVES
Fair
value
reserve
£   
At 1st March 2023 4,983
Property revaluation (4,983 )

At 29th February 2024 -

8. RELATED PARTY DISCLOSURES

Included in other creditors is an amount of £11,331 owed to Prima Property Services Ltd, a company where Mr Farrer-Newey and Ms Korrison are also directors/shareholders.