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Registered number: 10090358
Kingsmere Management Ltd
Financial Statements
For The Year Ended 31 March 2024
ICAEW
1 Landor Road
London
SW9 9RX
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—5
Page 1
Accountant's Report
Chartered Accountant's report to the director on the preparation of the unaudited statutory accounts of Kingsmere Management Ltd For The Year Ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Kingsmere Management Ltd For The Year Ended 31 March 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the director of Kingsmere Management Ltd , as a body, in accordance with the terms of our engagement letter dated 28 June 2016. Our work has been undertaken solely to prepare for your approval the accounts of Kingsmere Management Ltd and state those matters that we have agreed to state to the director of Kingsmere Management Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kingsmere Management Ltd and its director, as a body, for our work or for this report.
It is your duty to ensure that Kingsmere Management Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Kingsmere Management Ltd . You consider that Kingsmere Management Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Kingsmere Management Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
28 January 2025
Fairman Harris
ICAEW
1 Landor Road
London
SW9 9RX
Page 1
Page 2
Balance Sheet
Registered number: 10090358
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investments 4 1,897,726 554,960
1,897,726 554,960
CURRENT ASSETS
Debtors 5 5,768,901 6,185,343
Cash at bank and in hand 200,192 1,552,119
5,969,093 7,737,462
Creditors: Amounts Falling Due Within One Year 6 (3,362 ) (3,361 )
NET CURRENT ASSETS (LIABILITIES) 5,965,731 7,734,101
TOTAL ASSETS LESS CURRENT LIABILITIES 7,863,457 8,289,061
Creditors: Amounts Falling Due After More Than One Year 7 (8,000,000 ) (8,450,000 )
NET LIABILITIES (136,543 ) (160,939 )
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account (136,545 ) (160,941 )
SHAREHOLDERS' FUNDS (136,543) (160,939)
Page 2
Page 3
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr N Mawani
Director
28 January 2025
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Kingsmere Management Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10090358 . The registered office is Fairman Harris, 1 Landor Road, London, SW9 9RX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Investments
Unlisted
£
Cost
As at 1 April 2023 554,960
Additions 1,750,202
Disposals (407,436 )
As at 31 March 2024 1,897,726
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 1,897,726
As at 1 April 2023 554,960
5. Debtors
2024 2023
£ £
Due within one year
Amounts due from the parent undertakings 173,382 788,860
Other debtors. 5,595,519 5,396,483
5,768,901 6,185,343
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1 1
Accruals and deferred income 3,361 3,360
3,362 3,361
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank Loan - BOS Commercial 3.05% 2,785,000 2,785,000
Bank loan - BOS Residential Mortgage 2.80% 5,215,000 5,215,000
BOS - Revolving Loan 2.8% - 450,000
8,000,000 8,450,000
The bank borrowings are secured by inter-company guarantee charges on the properties located at 16-26 Bute St, and 20a Rayners Road, London of Stanthorpe Holdings Ltd BVI and Emsdale Holdings Ltd BVI.
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
9. Related Party Transactions
1315858 Alberta Ltd100% Parent of Kingsmere Management LtdAmount due from the company is £788,860 (2022: £1,228,612)

1315858 Alberta Ltd

100% Parent of Kingsmere Management Ltd

Amount due from the company is £788,860 (2022: £1,228,612)

Stanthorpe Holdings Ltd BVISister company under 100% common ownershipAmount due from the company is £5,396,483 (2022: £4,893,426)

Stanthorpe Holdings Ltd BVI

Sister company under 100% common ownership

Amount due from the company is £5,396,483 (2022: £4,893,426)

10. Ultimate Controlling Party
The company's ultimate controlling party is 1315858 Alberta Ltd by virtue of its ownership of 100% of the issued share capital in the company.
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