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REGISTERED NUMBER: 07750068 (England and Wales)










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: Sir K E Mills
Lady M E Mills
Mrs A L C Miller
A J E Mills





REGISTERED OFFICE: The Grange
Franks Hollow Road
Bidborough
Tunbridge Wells
England
TN3 0UD





REGISTERED NUMBER: 07750068 (England and Wales)





ACCOUNTANTS: Ward Mackenzie Ltd
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 - 18,539
Investments 5 1,010,015 1,010,015
1,010,015 1,028,554

CURRENT ASSETS
Debtors 6 100,000 947,177
Cash at bank 907,292 1,062,451
1,007,292 2,009,628
CREDITORS
Amounts falling due within one year 7 (1,653 ) (1,571 )
NET CURRENT ASSETS 1,005,639 2,008,057
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,015,654

3,036,611

CREDITORS
Amounts falling due after more than one year 8 (5,873,212 ) (6,873,212 )
NET LIABILITIES (3,857,558 ) (3,836,601 )

CAPITAL AND RESERVES
Called up share capital 1,000,000 1,000,000
Share premium 9 20,019 20,019
Retained earnings 9 (4,877,577 ) (4,856,620 )
SHAREHOLDERS' FUNDS (3,857,558 ) (3,836,601 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

KEM Investments Ltd (Registered number: 07750068)

Balance Sheet - continued
31 August 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 22 November 2024 and were signed on its behalf by:





Sir K E Mills - Director


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 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 50% on cost

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 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Racing
boat
£   
COST
At 1 September 2023
and 31 August 2024 37,078
DEPRECIATION
At 1 September 2023 18,539
Charge for year 18,539
At 31 August 2024 37,078
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 18,539

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 1,010,015
NET BOOK VALUE
At 31 August 2024 1,010,015
At 31 August 2023 1,010,015

The company's investments at the Balance Sheet date in the share capital of companies include the following:

KEM Management Ltd
Registered office:
Nature of business: Business Suppport Services
%
Class of shares: holding
Ordinary 100.00

Origin Sports Group Ltd
Registered office:
Nature of business: Other sports activities
%
Class of shares: holding
Ordinary 75.00

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Other debtors - 600,000

Amounts falling due after more than one year:
Amounts owed by associates 100,000 347,177

Aggregate amounts 100,000 947,177

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 34 29
Accrued expenses 1,619 1,542
1,653 1,571

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 5,873,212 6,873,212

9. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 September 2023 (4,856,620 ) 20,019 (4,836,601 )
Deficit for the year (20,957 ) (20,957 )
At 31 August 2024 (4,877,577 ) 20,019 (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.