REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 August 2024 |
for |
KEM Investments Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 August 2024 |
for |
KEM Investments Ltd |
KEM Investments Ltd (Registered number: 07750068) |
Contents of the Financial Statements |
for the Year Ended 31 August 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
KEM Investments Ltd |
Company Information |
for the Year Ended 31 August 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Thatcher House |
12 Mount Ephraim |
Tunbridge Wells |
Kent |
TN4 8AS |
KEM Investments Ltd (Registered number: 07750068) |
Balance Sheet |
31 August 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Share premium | 9 |
Retained earnings | 9 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
KEM Investments Ltd (Registered number: 07750068) |
Balance Sheet - continued |
31 August 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
KEM Investments Ltd (Registered number: 07750068) |
Notes to the Financial Statements |
for the Year Ended 31 August 2024 |
1. | STATUTORY INFORMATION |
KEM Investments Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
TANGIBLE FIXED ASSETS |
Plant and machinery etc | - |
INVESTMENTS |
Investments are valued at cost, less provision for any permanent diminution in value. |
GROUP ACCOUNTS |
Exemption has been taken from preparing group accounts on the grounds that the group qualifies as a small group. |
DEFERRED TAX |
Deferred tax is not recognised in respect of all timing differences that have originated but not reversed at the balance sheet date as these are considered immaterial. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Racing |
boat |
£ |
COST |
At 1 September 2023 |
and 31 August 2024 |
DEPRECIATION |
At 1 September 2023 |
Charge for year |
At 31 August 2024 |
NET BOOK VALUE |
At 31 August 2024 |
At 31 August 2023 |
KEM Investments Ltd (Registered number: 07750068) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2024 |
5. | FIXED ASSET INVESTMENTS |
Unlisted |
investments |
£ |
COST |
At 1 September 2023 |
and 31 August 2024 |
NET BOOK VALUE |
At 31 August 2024 |
At 31 August 2023 |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: |
Nature of business: |
% |
Class of shares: | holding |
Registered office: |
Nature of business: |
% |
Class of shares: | holding |
6. | DEBTORS |
2024 | 2023 |
£ | £ |
Amounts falling due within one year: |
Other debtors |
Amounts falling due after more than one year: |
Amounts owed by associates |
Aggregate amounts |
The directors consider the carrying value of trade and other receivables approximate to their fair values. |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Accrued expenses |
KEM Investments Ltd (Registered number: 07750068) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued |
The directors consider the carrying amounts of current liabilities approximate to their fair values. |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other loans more than 1 year | 5,873,212 | 6,873,212 |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Other loans more than 1 year |
9. | RESERVES |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
At 1 September 2023 | ( |
) | (4,836,601 | ) |
Deficit for the year | ( |
) | ( |
) |
At 31 August 2024 | ( |
) | (4,857,558 | ) |
The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve. |
10. | RELATED PARTY DISCLOSURES |
At the year end Sir K E Mills (Director) was owed £5,873,212 (2023 : £6,873,212) from KEM Investments Ltd. |
At the year end, Origin Sports Group Ltd owed £Nil (2023 : £247,177) and KEM Management Ltd owed |
£100,000 (2023 : £100,000) to KEM Investments Ltd under a loan that is interest free and repayable on demand. |
11. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is Sir K E Mills, director of the company by virtue of his controlling interest in KEM Investments Limited. |
12. | GOING CONCERN |
In the opinion of the directors, the company can continue to be treated as a going concern due to the support of the directors, which will continue for the foreseeable future. |