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Registered Number: 4169725
England and Wales

 

 

 

KENS ESTATE LTD.


Abridged Accounts
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
 
 
Notes
 
31/03/2024
£
  31/03/2023
£
Fixed assets      
Tangible fixed assets 3 1,431    3,738 
1,431    3,738 
Current assets      
Debtors 46,073    39,253 
Cash at bank and in hand 86,140    139,005 
132,213    178,258 
Creditors: amount falling due within one year (143,489)   (165,537)
Net current assets (11,276)   12,721 
 
Total assets less current liabilities (9,845)   16,459 
Creditors: amount falling due after more than one year (675,513)   (479,388)
Net assets (685,358)   (462,929)
 

Capital and reserves
     
Called up share capital 4 100    100 
Profit and loss account (685,458)   (463,029)
Shareholders' funds (685,358)   (462,929)
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 16 December 2024 and were signed on its behalf by:


-------------------------------
G Sato
Director
1
General Information
Kens Estate Ltd. is a private company, limited by shares, registered in England and Wales, registration number 4169725, registration address 3 Nisbett Walk, Sidcup, England, DA14 6BT.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The financial statements have been prepared on a going concern basis notwithstanding the
 fact that the company has a deficiency on total equity at the end of the year. The directors
 consider this basis to be appropriate as the company has sufficient facilities available from
 its shareholders to fund its working capital requirements for a period of at least twelve months   from the date these financial statements were approved.
Cash and cash equivalents
 Cash and cash equivalents are basic financial assets and include cash in hand, deposits
 held at call with banks, other short-term liquid investments with original maturities of three
 months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current
 liabilities.
Revenue
 Revenue is recognised to the extent that it is probable that the economic benefits will flow to  the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added  tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of Services
 Revenue from a contract to provide services is recognised in the period in which the services
 are provided in accordance with the stage of completion of the contract when all of the
 following conditions are satisfied:
     - the amount of revenue can be measured reliably;
     - it is probable that the Company will receive the consideration due under the contact;
     - the stage of completion of the contract at the end of the reporting period can be measured
       reliably; and
     - the costs incurred and the costs to complete the contract can be measured reliably.
Financial instruments
The company has elected to apply Section 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

The company's policies for its major classes of the financial assets and financial liabilities are set out below.
Financial assets
Basic financial assets, including trade and other debtors, cash and bank balances and intercompany working capital balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Financial liabilities
Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instrument are subsequently carried at a amortised cost, using the effective interest rate method.
Hire purchase and leasing commitments
 Rentals paid under operating leases are charged to profit or loss on a straight line basis over   the period of the lease. 
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Straight Line
Computer Equipment 25% Straight Line
2.

Average number of employees

Average number of employees during the year was 7 (2023 : 6).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Computer Equipment   Total
  £   £   £
At 01 April 2023 3,834    3,805    7,639 
Additions    
Disposals (1,259)   (358)   (1,617)
At 31 March 2024 2,575    3,447    6,022 
Depreciation
At 01 April 2023 1,560    2,343    3,903 
Charge for year 767    663    1,430 
On disposals (536)   (206)   (742)
At 31 March 2024 1,791    2,800    4,591 
Net book values
Closing balance as at 31 March 2024 784    647    1,431 
Opening balance as at 01 April 2023 2,276    1,462    3,738 


4.

Share Capital

Allotted, called up and fully paid
31/03/2024
£
  31/03/2023
£
100 Ordinary shares of £1.00 each 100    100 
100    100 

2