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KH (HOLT) LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
Registered number: 11305579

 
KH (HOLT) LIMITED
REGISTERED NUMBER: 11305579

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
78,279
88,640

Tangible assets
 5 
27,886
24,811

  
106,165
113,451

Current assets
  

Stocks
  
6,500
6,500

Debtors: amounts falling due within one year
 6 
16,557
17,304

Cash at bank and in hand
  
144,914
208,955

  
167,971
232,759

Creditors: amounts falling due within one year
 7 
(139,813)
(178,573)

Net current assets
  
 
 
28,158
 
 
54,186

Total assets less current liabilities
  
134,323
167,637

Creditors: amounts falling due after more than one year
 8 
(10,833)
(20,833)

Provisions for liabilities
  

Deferred tax
  
(3,943)
(3,305)

Net assets
  
£119,547
£143,499


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
119,447
143,399

  
£119,547
£143,499


Page 1

 
KH (HOLT) LIMITED
REGISTERED NUMBER: 11305579

BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The director considers 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 director acknowledges his 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 comprehensive income 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 on 23 January 2025.




O D Musial
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
KH (HOLT) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

KH (Holt) Limited is a private company, limited by shares, domiciled in England and Wales, registration number 11305579. The company's registered office is 19 High Street, Holt, Norfolk, NR25 6BN.

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

Turnover

Turnover comprises revenue recognised by the company in respect of bar, restaurant and hotel income, exclusive of Value Added Tax.

 
2.3

Intangible assets

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the identifiable assets and liabilities. It is amortised to the Statement of Comprehensive Income over its estimated economic life of twelve years.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses.
Depreciation is provided at rates calculated to write off the cost of fixed assets less their estimated residual value over their expected useful lives.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
reducing balance
Office equipment
-
25%
reducing balance

A full years depreciation charge is provided in the year of acquisition and none in the year of disposal.
Gains and losses on disposals are determined by comparing proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

 
2.5

Stocks

Stocks are valued at the lower of cost and net realisable value.

 
2.6

Debtors

Debtors are measured at transaction price.

Page 3

 
KH (HOLT) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
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.

  
2.8

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties.

 
2.9

Creditors

Creditors are measured at transaction price.

 
2.10

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of Comprehensive Income on a straight line basis over the lease term.

 
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

Interest income

Interest income is recognised in the Statement of Comprehensive Income in the year in which it is received.

 
2.13

Pensions

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 the Statement of Comprehensive Income 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.

 
2.14

Current and deferred taxation

The taxation expense for the year comprises current and deferred tax. Taxation is only recognised in the Statement of Comprehensive Income.
The current corporation tax charge is calculated on the basis of taxation rates and laws that have been enacted or substantively enacted by the balance sheet date in the United Kingdom.
The charge for taxation takes into account taxation deferred or accelerated as a result of all material timing differences between the treatment of certain items for taxation and accounting purposes. Deferred tax assets are recognised only to the extent that they are regarded as recoverable within the foreseeable future. Deferred tax assets and liabilities are not discounted.

Page 4

 
KH (HOLT) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

  
2.15

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of Comprehensive Income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.


3.


Employees

The average monthly number of employees, including directors, during the year was 20 (2023 - 20).


4.


Intangible assets




Goodwill

£



Cost


At 1 May 2023
130,000



At 30 April 2024

130,000



Amortisation


At 1 May 2023
41,360


Charge for the year on owned assets
10,361



At 30 April 2024

51,721



Net book value



At 30 April 2024
£78,279



At 30 April 2023
£88,640



Page 5

 
KH (HOLT) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Tangible fixed assets





Fixtures & fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 May 2023
55,187
5,420
60,607


Additions
9,765
2,614
12,379



At 30 April 2024

64,952
8,034
72,986



Depreciation


At 1 May 2023
33,353
2,443
35,796


Charge for the year on owned assets
7,905
1,399
9,304



At 30 April 2024

41,258
3,842
45,100



Net book value



At 30 April 2024
£23,694
£4,192
£27,886



At 30 April 2023
£21,834
£2,977
£24,811


6.


Debtors

2024
2023
£
£


Other debtors
1,049
1,149

Prepayments and accrued income
15,508
16,155

£16,557
£17,304


Page 6

 
KH (HOLT) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank and other loans
10,000
10,000

Trade creditors
36,315
46,526

Corporation tax
5,133
1,706

Other taxation and social security
32,980
33,517

Other creditors
54,191
81,918

Accruals and deferred income
1,194
4,906

£139,813
£178,573



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank and other loans
10,833
20,833

£10,833
£20,833



9.


Commitments under operating leases

At 30 April 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
79,392
79,392

Later than 1 year and not later than 5 years
317,567
317,567

Later than 5 years
600,877
521,485

£997,836
£918,444


Page 7