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REGISTERED NUMBER: 00810627 (England and Wales)



















KINSTENE CO. LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






KINSTENE CO. LIMITED (REGISTERED NUMBER: 00810627)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


KINSTENE CO. LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr J Hirschler
Mr S Hirschler





SECRETARIES: Mrs C R Hirschler
Mr S Hirschler





REGISTERED OFFICE: First Floor
94 Stamford Hill
London
N16 6XS





REGISTERED NUMBER: 00810627 (England and Wales)





ACCOUNTANTS: Sugarwhite Meyer Accountants Ltd
First Floor
94 Stamford Hill
London
N16 6XS

KINSTENE CO. LIMITED (REGISTERED NUMBER: 00810627)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 5 844,188 844,188

CURRENT ASSETS
Debtors 6 26,718 18,046
Cash at bank 18,373 22,554
45,091 40,600
CREDITORS
Amounts falling due within one year 7 94,595 73,907
NET CURRENT LIABILITIES (49,504 ) (33,307 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

794,684

810,881

CREDITORS
Amounts falling due after more than one
year

8

374,314

391,725
NET ASSETS 420,370 419,156

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 395,000 395,000
Retained earnings 25,368 24,154
SHAREHOLDERS' FUNDS 420,370 419,156

KINSTENE CO. LIMITED (REGISTERED NUMBER: 00810627)

BALANCE SHEET - continued
31 MARCH 2024


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

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

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 December 2024 and were signed on its behalf by:





Mr J Hirschler - Director


KINSTENE CO. LIMITED (REGISTERED NUMBER: 00810627)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Kinstene Co. Limited 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared on the historical cost basis, as modified to include investment properties measured at fair value through profit or loss.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. The estimates and underlying assumptions are reviewed on an ongoing basis.

Turnover
Turnover is recognised at the fair value of the consideration receivable in respect of services provided in the normal course of business. The turnover of the company is represented by rents and charges receivable in respect of the company's investment portfolio. Rental income is accounted for on an accruals basis.

Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

KINSTENE CO. LIMITED (REGISTERED NUMBER: 00810627)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 844,188
NET BOOK VALUE
At 31 March 2024 844,188
At 31 March 2023 844,188

The fair value of the investment properties has been arrived at on the basis of a valuation carried out by the company's director who is considered to have the experience and expertise required to undertake such an exercise. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties in the same location.

The historical cost of investment properties at 31 March 2024 is £449,188.

In the event of the realisation of the company's investment properties at its fair value, no liability to corporation tax would arise as the company intends to wholly gift aid all of its profits to its parent charity.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 26,718 18,046

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans 8,925 3,600
Amounts owed to group undertakings 71,091 58,182
Other creditors 14,579 12,125
94,595 73,907

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 374,314 391,725

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years by
instalments

338,614

377,325

KINSTENE CO. LIMITED (REGISTERED NUMBER: 00810627)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 383,239 395,325

The bank loan is secured by legal charges over the company's investment properties.

10. RELATED PARTY TRANSACTIONS

The company is a wholly owned subsidiary of Anleydale Limited, a charity company incorporated in the United Kingdom to whom it gift aids its taxable profit each year. It paid interest on its loan in the sum of £2,909 (2023: £2,771).
The balance owed to Anleydale Limited as at the balance sheet date was £71,091 (2023: £58,182).