Caseware UK (AP4) 2023.0.135 2023.0.135 falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-07-01falseNo description of principal activity66truetrue 04639756 2023-07-01 2024-06-30 04639756 2022-07-01 2023-06-30 04639756 2024-06-30 04639756 2023-06-30 04639756 c:CompanySecretary1 2023-07-01 2024-06-30 04639756 c:Director1 2023-07-01 2024-06-30 04639756 c:Director2 2023-07-01 2024-06-30 04639756 c:Director3 2023-07-01 2024-06-30 04639756 c:Director4 2023-07-01 2024-06-30 04639756 c:RegisteredOffice 2023-07-01 2024-06-30 04639756 c:Agent1 2023-07-01 2024-06-30 04639756 d:Buildings 2023-07-01 2024-06-30 04639756 d:Buildings 2024-06-30 04639756 d:Buildings 2023-06-30 04639756 d:Buildings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04639756 d:PlantMachinery 2023-07-01 2024-06-30 04639756 d:PlantMachinery 2024-06-30 04639756 d:PlantMachinery 2023-06-30 04639756 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04639756 d:MotorVehicles 2023-07-01 2024-06-30 04639756 d:MotorVehicles 2024-06-30 04639756 d:MotorVehicles 2023-06-30 04639756 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04639756 d:FurnitureFittings 2023-07-01 2024-06-30 04639756 d:FurnitureFittings 2024-06-30 04639756 d:FurnitureFittings 2023-06-30 04639756 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04639756 d:OfficeEquipment 2023-07-01 2024-06-30 04639756 d:OfficeEquipment 2024-06-30 04639756 d:OfficeEquipment 2023-06-30 04639756 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04639756 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04639756 d:CurrentFinancialInstruments 2024-06-30 04639756 d:CurrentFinancialInstruments 2023-06-30 04639756 d:Non-currentFinancialInstruments 2024-06-30 04639756 d:Non-currentFinancialInstruments 2023-06-30 04639756 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 04639756 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 04639756 d:ShareCapital 2024-06-30 04639756 d:ShareCapital 2023-06-30 04639756 d:RetainedEarningsAccumulatedLosses 2024-06-30 04639756 d:RetainedEarningsAccumulatedLosses 2023-06-30 04639756 c:OrdinaryShareClass1 2023-07-01 2024-06-30 04639756 c:OrdinaryShareClass1 2024-06-30 04639756 c:OrdinaryShareClass1 2023-06-30 04639756 c:FRS102 2023-07-01 2024-06-30 04639756 c:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 04639756 c:FullAccounts 2023-07-01 2024-06-30 04639756 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 04639756 d:AcceleratedTaxDepreciationDeferredTax 2024-06-30 04639756 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 04639756 2 2023-07-01 2024-06-30 04639756 6 2023-07-01 2024-06-30 04639756 e:PoundSterling 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 04639756










Kingston Homes Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 30 June 2024

 
Kingston Homes Limited
 

Company Information


Directors
S J Kingston 
P M Kingston 
M K Kingston 
K B Kingston 




Company secretary
P M Kingston



Registered number
04639756



Registered office
37 St Margaret's Street

Canterbury

Kent

CT1 2TU




Accountants
Kreston Reeves LLP
Chartered Accountants

37 St Margaret's Street

Canterbury

Kent

CT1 2TU




Bankers
Lloyds TSB Plc
High Street

Ashford

Kent

TN24 8SS





 
Kingston Homes Limited
 

Contents



Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 12


 
Kingston Homes Limited
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of Kingston Homes Limited for the year ended 30 June 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kingston Homes Limited for the year ended 30 June 2024 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm 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 https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Kingston Homes Limited, as a body, in accordance with the terms of our engagement letter dated 19 March 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Kingston Homes Limited and state those matters that we have agreed to state to the Board of directors of Kingston Homes Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kingston Homes Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Kingston Homes Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Kingston Homes Limited. You consider that Kingston Homes Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Kingston Homes Limited. 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 statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
Canterbury
20 January 2025
Page 1

 
Kingston Homes Limited
Registered number: 04639756

Balance sheet
As at 30 June 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
13,828
17,747

Investments
 5 
100
100

  
13,928
17,847

Current assets
  

Stocks
  
245,054
131,619

Debtors: amounts falling due after more than one year
 6 
356,333
900,000

Debtors: amounts falling due within one year
 6 
225,649
289,285

Current asset investments
  
2,413,914
699,211

Cash at bank and in hand
  
248,904
588,034

  
3,489,854
2,608,149

Creditors: amounts falling due within one year
 8 
(2,433,911)
(2,187,891)

Net current assets
  
 
 
1,055,943
 
 
420,258

Total assets less current liabilities
  
1,069,871
438,105

Provisions for liabilities
  

Deferred tax
 9 
(3,457)
(4,437)

  
 
 
(3,457)
 
 
(4,437)

Net assets
  
1,066,414
433,668


Capital and reserves
  

Called up share capital 
 10 
400
400

Profit and loss account
  
1,066,014
433,268

  
1,066,414
433,668


Page 2

 
Kingston Homes Limited
Registered number: 04639756

Balance sheet (continued)
As at 30 June 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: 


S J Kingston
Director
Date: 20 January 2025

The notes on pages 4 to 12 form part of these financial statements.

Page 3

 
Kingston Homes Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

1.


General information

Kingston Homes Limited ("the company”) is a private company limited by shares and is incorporated in England with the registration number 04639756.  The address of the registered office is 37 St Margaret’s Street, Canterbury, Kent CT1 2TU.
The company's functional and presentational currency is GBP rounded to the the nearest £1.

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

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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 contract;
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.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their
Page 4

 
Kingston Homes Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

estimated useful lives, using the straight-line method.

The basis of depreciation is shown in more detail below: 

Plant & machinery
-
25%
straight line
Motor vehicles
-
25%
straight line
Fixtures & fittings
-
25%
straight line
Office equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 5

 
Kingston Homes Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

2.Accounting policies (continued)

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
 
Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.
 
Page 6

 
Kingston Homes Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

2.Accounting policies (continued)


2.8
Financial instruments (continued)


Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

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.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.12

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.13

Interest income

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

Page 7

 
Kingston Homes Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

2.Accounting policies (continued)

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 balance sheet 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 balance sheet 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 balance sheet date.


3.


Employees

2024
2023
£
£

Wages and salaries
75,425
61,177

Cost of defined contribution scheme
181,899
300,475

257,324
361,652


The average monthly number of employees, including directors, during the year was 6 (2023 - 6).

Page 8

 
Kingston Homes Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

4.


Tangible fixed assets





Freehold property
Plant & machinery
Motor vehicles
Fixtures & fittings
Office equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 July 2023
10,000
4,805
1,200
38,581
23,734
78,320


Additions
-
-
-
-
3,171
3,171



At 30 June 2024

10,000
4,805
1,200
38,581
26,905
81,491



Depreciation


At 1 July 2023
-
3,053
1,200
34,315
22,005
60,573


Charge for the year on owned assets
-
1,102
-
3,875
2,113
7,090



At 30 June 2024

-
4,155
1,200
38,190
24,118
67,663



Net book value



At 30 June 2024
10,000
650
-
391
2,787
13,828



At 30 June 2023
10,000
1,752
-
4,266
1,729
17,747

Page 9

 
Kingston Homes Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 July 2023
100



At 30 June 2024
100





6.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
356,333
900,000


2024
2023
£
£

Due within one year

Other debtors
224,518
279,093

Prepayments and accrued income
1,131
10,192

225,649
289,285



7.


Current asset investments

2024
2023
£
£

Listed investments
2,413,914
699,211


Page 10

 
Kingston Homes Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
2,927
12,232

Other taxation and social security
-
58

Other creditors
2,426,364
2,171,176

Accruals and deferred income
4,620
4,425

2,433,911
2,187,891


Included within other creditors at the year end is accrued interest due to the directors based on their previous directors loans at a rate of Bank of England base rate plus 3.5% and no date has been set for their repayment. The total interest accrued at the balance sheet date is £749,261  (2023: £561,029).


9.


Deferred taxation




2024


£






At beginning of year
(4,437)


Charged to profit or loss
980



At end of year
(3,457)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(3,457)
(4,437)


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



400 (2023 - 400) Ordinary shares of £1.00 each
400
400



11.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held seperately from those of the company in an independently administered fund. The pension cost charge represents contributions paid by the company to the fund of £181,899 (2023: £300,475).

Page 11

 
Kingston Homes Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

12.


Related party transactions

All directors’ remuneration paid by the company during the year was done so under normal market conditions


13.


Controlling party

The company was controlled throughout the period by the directors and shareholders jointly as family members.


Page 12