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Registration number: 11213673

Kingston Thermal Holdings Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Kingston Thermal Holdings Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Kingston Thermal Holdings Limited

Company Information

Director

J P Bassett

Registered office

Unit 2, Hermosa House
Freightliner Road
Brighton Street Industrial Estate
Hull
HU3 4UW

 

Kingston Thermal Holdings Limited

(Registration number: 11213673)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

223,483

223,483

Investments

5

132

132

 

223,615

223,615

Current assets

 

Debtors

6

1,665

486

Cash at bank and in hand

 

279

2,587

 

1,944

3,073

Creditors: Amounts falling due within one year

7

(112,652)

(107,565)

Net current liabilities

 

(110,708)

(104,492)

Total assets less current liabilities

 

112,907

119,123

Creditors: Amounts falling due after more than one year

7

(72,495)

(85,330)

Provisions for liabilities

(9,913)

(9,913)

Net assets

 

30,499

23,880

Capital and reserves

 

Called up share capital

66

66

Capital redemption reserve

66

66

Retained earnings

30,367

23,748

Shareholders' funds

 

30,499

23,880

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 14 January 2025
 

.........................................
J P Bassett
Director

   
     
 

Kingston Thermal Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 11213673.

The address of its registered office is:
Unit 2, Hermosa House
Freightliner Road
Brighton Street Industrial Estate
Hull
HU3 4UW
England

These financial statements were authorised for issue by the director on 14 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Group accounts not prepared

The financial statements contain information about Kingston Thermal Holdings Limited as an individual company and do not contain consolidated financial information as part of a group. The company has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements. .

Revenue recognition

Turnover comprises the rental income received or receivable in respect of the property that it owns. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Kingston Thermal Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 1 (2023 - 2).

 

Kingston Thermal Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Investment properties

2024
£

At 1 July

223,483

At 30 June

223,483

Investment property is included in the financial statements at cost which has been deemed to be the fair value of the property at the balance sheet date.

5

Investments

2024
£

2023
£

Investments in subsidiaries

132

132

Subsidiaries

£

Cost or valuation

At 1 July 2023

132

Carrying amount

At 30 June 2024

132

At 30 June 2023

132

6

Debtors

2024
£

2023
£

Prepayments

1,665

486

1,665

486

 

Kingston Thermal Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

60,041

72,068

Amounts owed to Company undertakings and undertakings in which the Company has a participating interest

9

48,323

31,396

Taxation and social security

 

3,073

2,946

Accruals and deferred income

 

1,215

1,155

 

112,652

107,565

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

72,495

85,330

2024
£

2023
£

Due after more than five years

After more than five years by instalments

22,762

37,205

-

-

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

72,495

85,330

Current loans and borrowings

2024
£

2023
£

Bank borrowings

12,433

12,032

Other borrowings

47,608

60,036

60,041

72,068

The bank borrowings are secured against the company property. Other borrowings include unsecured amounts due to former directors.

 

Kingston Thermal Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

9

Related party transactions

Summary of transactions with subsidiaries

The company has taken advantage of the exemption in FRS102 Section 1A from disclosing transactions with related parties (wholly owned subsidiaries) that are part of the Kingston Thermal Holdings Limited Group.