Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-312023-02-01falseProperty investment33falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04922187 2023-02-01 2024-01-31 04922187 2022-02-01 2023-01-31 04922187 2024-01-31 04922187 2023-01-31 04922187 c:Director1 2023-02-01 2024-01-31 04922187 d:FreeholdInvestmentProperty 2024-01-31 04922187 d:FreeholdInvestmentProperty 2023-01-31 04922187 d:CurrentFinancialInstruments 2024-01-31 04922187 d:CurrentFinancialInstruments 2023-01-31 04922187 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 04922187 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 04922187 d:ShareCapital 2024-01-31 04922187 d:ShareCapital 2023-01-31 04922187 d:RevaluationReserve 2024-01-31 04922187 d:RevaluationReserve 2023-01-31 04922187 d:RetainedEarningsAccumulatedLosses 2024-01-31 04922187 d:RetainedEarningsAccumulatedLosses 2023-01-31 04922187 c:FRS102 2023-02-01 2024-01-31 04922187 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 04922187 c:FullAccounts 2023-02-01 2024-01-31 04922187 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 04922187 2 2023-02-01 2024-01-31 04922187 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Registered number: 04922187









REISS (KENSINGTON) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

 
REISS (KENSINGTON) LIMITED
REGISTERED NUMBER: 04922187

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
1,500,000
1,500,000

  
1,500,000
1,500,000

Current assets
  

Debtors: amounts falling due within one year
 5 
461
2,443

Cash at bank and in hand
  
20,591
52,702

  
21,052
55,145

Creditors: amounts falling due within one year
 6 
(907,272)
(991,918)

Net current liabilities
  
 
 
(886,220)
 
 
(936,773)

Total assets less current liabilities
  
613,780
563,227

  

Net assets
  
613,780
563,227


Capital and reserves
  

Called up share capital 
  
200
200

Revaluation reserve
  
(660,465)
(660,465)

Profit and loss account
  
1,274,045
1,223,492

  
613,780
563,227


Page 1

 
REISS (KENSINGTON) LIMITED
REGISTERED NUMBER: 04922187
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


................................................
D A Reiss
Director
Date: 21 January 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
REISS (KENSINGTON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

The principal activity of Reiss (Kensington) Limited ("the Company") continues to be that of property investment.
The Company is a private company limited by shares and is incorporated in England and Wales.
The registered office address is First Floor, White Lion House, 64a Highgate High Street, London, N6 5HX.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis.
The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

 
2.3

Functional and presentation currency

The Company's functional and presentational currency is GBP.

 
2.4

Revenue

Revenue from rental income 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.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
REISS (KENSINGTON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.8

Investment property

Investment property is carried at fair value determined annually by the directors on the basis of open market value for its current use. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.9

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to and from related parties.
(i) Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, 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 market rate of interest.
(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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.

Page 4

 
REISS (KENSINGTON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

3.


Employees




The average monthly number of employees, including directors, during the year was 3 (2023 -3).


4.


Investment property


Freehold investment property

£



Valuation


At 1 February 2023
1,500,000



At 31 January 2024
1,500,000

The 2024 valuations were made by the directors, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
2,160,456
2,160,465

Accumulated depreciation and impairments
(619,755)
(585,187)

1,540,701
1,575,278

Page 5

 
REISS (KENSINGTON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
-
352

Other debtors
-
1,795

Prepayments and accrued income
461
296

461
2,443



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
15,991
15,861

Other taxation and social security
4,873
5,180

Other creditors
861,642
947,000

Accruals and deferred income
24,766
23,877

907,272
991,918



7.


Controlling party

The Company is a wholly owned subsidiary of Reiss Family Holdings Limited, which is the ultimate controlling party.

 
Page 6