Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-312024-05-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-06-0123falseKesterport Limited is incorporated in England and Wales and limited by shares. The principal activity of the company is that of furniture importers and wholesalers. The address of the registered office is given in the company's information page of these financial statements.23falsetrue 01338973 2023-06-01 2024-05-31 01338973 2022-06-01 2023-05-31 01338973 2024-05-31 01338973 2023-05-31 01338973 c:CompanySecretary1 2023-06-01 2024-05-31 01338973 c:Director1 2023-06-01 2024-05-31 01338973 c:Director2 2023-06-01 2024-05-31 01338973 c:Director2 2024-05-31 01338973 c:Director3 2023-06-01 2024-05-31 01338973 c:Director3 2024-05-31 01338973 c:Director4 2023-06-01 2024-05-31 01338973 c:Director4 2024-05-31 01338973 c:RegisteredOffice 2023-06-01 2024-05-31 01338973 d:PlantMachinery 2023-06-01 2024-05-31 01338973 d:PlantMachinery 2024-05-31 01338973 d:PlantMachinery 2023-05-31 01338973 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 01338973 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 01338973 d:MotorVehicles 2023-06-01 2024-05-31 01338973 d:MotorVehicles 2024-05-31 01338973 d:MotorVehicles 2023-05-31 01338973 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 01338973 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 01338973 d:OfficeEquipment 2023-06-01 2024-05-31 01338973 d:OfficeEquipment 2024-05-31 01338973 d:OfficeEquipment 2023-05-31 01338973 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 01338973 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 01338973 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 01338973 d:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 01338973 d:PatentsTrademarksLicencesConcessionsSimilar 2024-05-31 01338973 d:PatentsTrademarksLicencesConcessionsSimilar 2023-05-31 01338973 d:CurrentFinancialInstruments 2024-05-31 01338973 d:CurrentFinancialInstruments 2023-05-31 01338973 d:Non-currentFinancialInstruments 2024-05-31 01338973 d:Non-currentFinancialInstruments 2023-05-31 01338973 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 01338973 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 01338973 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 01338973 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 01338973 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-05-31 01338973 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-05-31 01338973 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-05-31 01338973 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-05-31 01338973 d:ShareCapital 2024-05-31 01338973 d:ShareCapital 2023-05-31 01338973 d:SharePremium 2024-05-31 01338973 d:SharePremium 2023-05-31 01338973 d:CapitalRedemptionReserve 2024-05-31 01338973 d:CapitalRedemptionReserve 2023-05-31 01338973 d:RetainedEarningsAccumulatedLosses 2024-05-31 01338973 d:RetainedEarningsAccumulatedLosses 2023-05-31 01338973 d:FurtherSpecificTypeProvisionContingentLiability2ComponentTotalProvisionsContingentLiabilities 2023-06-01 2024-05-31 01338973 d:FurtherSpecificTypeProvisionContingentLiability2ComponentTotalProvisionsContingentLiabilities 2024-05-31 01338973 d:FurtherSpecificTypeProvisionContingentLiability2ComponentTotalProvisionsContingentLiabilities 2023-05-31 01338973 c:OrdinaryShareClass1 2023-06-01 2024-05-31 01338973 c:OrdinaryShareClass1 2024-05-31 01338973 c:OrdinaryShareClass1 2023-05-31 01338973 c:OrdinaryShareClass2 2023-06-01 2024-05-31 01338973 c:OrdinaryShareClass2 2024-05-31 01338973 c:OrdinaryShareClass2 2023-05-31 01338973 c:FRS102 2023-06-01 2024-05-31 01338973 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 01338973 c:FullAccounts 2023-06-01 2024-05-31 01338973 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 01338973 d:AcceleratedTaxDepreciationDeferredTax 2024-05-31 01338973 d:AcceleratedTaxDepreciationDeferredTax 2023-05-31 01338973 6 2023-06-01 2024-05-31 01338973 e:PoundSterling 2023-06-01 2024-05-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 01338973











KESTERPORT LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024
















TWP ACCOUNTING LLP
Chartered Accountants
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE

 
KESTERPORT LIMITED
 

COMPANY INFORMATION


Directors
R D M Fletcher 
H L E Fletcher (resigned 31 May 2024)
S M Anderson (resigned 2 September 2024)
T W Hughes (resigned 2 September 2024)




Company secretary
S Copping



Registered number
01338973



Registered office
Kestrel House
Hanworth Lane

Surrey

KT16 9JX




Accountants
TWP Accounting LLP
Chartered Accountants

The Old Rectory

Church Street

Weybridge

Surrey

KT13 8DE





 
KESTERPORT LIMITED
REGISTERED NUMBER: 01338973

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
27,711
22,336

Investments
 6 
-
201

  
27,711
22,537

Current assets
  

Stocks
 7 
689,246
1,306,446

Debtors: amounts falling due within one year
 8 
558,736
712,961

Cash at bank and in hand
 9 
236,192
813,680

  
1,484,174
2,833,087

Creditors: amounts falling due within one year
 10 
(970,586)
(1,309,359)

Net current assets
  
 
 
513,588
 
 
1,523,728

Total assets less current liabilities
  
541,299
1,546,265

Creditors: amounts falling due after more than one year
 11 
-
(245,000)

Provisions for liabilities
  

Deferred tax
 13 
-
(812)

Other provisions
 14 
(71,106)
(223,520)

  
 
 
(71,106)
 
 
(224,332)

Net assets
  
470,193
1,076,933


Capital and reserves
  

Called up share capital 
 15 
9,172
9,172

Share premium account
  
1,500
1,500

Capital redemption reserve
  
1,828
1,828

Profit and loss account
  
457,693
1,064,433

  
470,193
1,076,933


Page 1

 
KESTERPORT LIMITED
REGISTERED NUMBER: 01338973

BALANCE SHEET (CONTINUED)
AS AT 31 MAY 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 profit and loss account 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 20 February 2025.




................................................
R D M Fletcher
Director

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
KESTERPORT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Kesterport Limited is incorporated in England and Wales and limited by shares. The principal activity of the company is that of furniture importers and wholesalers. The address of the registered office is given in the company's information page of these financial statements.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors are confident that the Company has adequate resources to continue in operational existence for the foreseeable future and meet its financial obligations. Therefore they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
KESTERPORT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.4

Turnover

Turnover is recognised by the company when furniture is despatched with appropriate adjustment made in respect of income received in advance being included within accruals and deferred income.
Turnover is recognised to the extent that it is probable the economic benefits will flow to the Company and can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, exclusive of trade discounts.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.6

Leasing and hire purchase

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

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.

Page 4

 
KESTERPORT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.9

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.

  
2.10

Website

Website expenditure is only recognised on the balance sheet where it is specifically for development, rather than for maintenance and general updates. The website is being amortised over 3 years.

 
2.11

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 estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
20% on cost
Motor vehicles
-
20% on cost
Office equipment
-
20% - 33.33% on cost

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.

Page 5

 
KESTERPORT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.12

Valuation of investments

Subsidiary Undertakings:

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.13

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

 
2.14

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.15

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. 

 
2.16

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.

 
2.17

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 23 (2023 - 23).

Page 6

 
KESTERPORT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Intangible assets




Website
Total

£
£



Cost


At 1 June 2023
20,020
20,020



At 31 May 2024

20,020
20,020



Amortisation


At 1 June 2023
20,020
20,020



At 31 May 2024

20,020
20,020



Net book value



At 31 May 2024
-
-



At 31 May 2023
-
-



Page 7

 
KESTERPORT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 June 2023
16,000
11,000
23,405
50,405


Additions
-
13,500
10,322
23,822


Disposals
(16,000)
-
(11,756)
(27,756)



At 31 May 2024

-
24,500
21,971
46,471



Depreciation


At 1 June 2023
14,400
2,291
11,378
28,069


Charge for the year on owned assets
1,600
5,500
7,597
14,697


Charge for the year on financed assets
-
3,750
-
3,750


Disposals
(16,000)
-
(11,756)
(27,756)



At 31 May 2024

-
11,541
7,219
18,760



Net book value



At 31 May 2024
-
12,959
14,752
27,711



At 31 May 2023
1,600
8,709
12,027
22,336

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:






6.


Investments





Investments in subsidiary companies

£





At 1 June 2023
201


Disposals
(201)



At 31 May 2024
-




Page 8

 
KESTERPORT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

7.


Stocks

2024
2023
£
£

Stocks
689,246
1,306,446

689,246
1,306,446



8.


Debtors

2024
2023
£
£


Trade debtors
396,647
574,805

Amounts owed by group undertakings
13,826
1,731

Other debtors
646
371

Prepayments and accrued income
147,617
136,054

558,736
712,961



9.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
236,192
813,680

236,192
813,680



10.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
245,000
200,000

Trade creditors
300,796
475,898

Other taxation and social security
162,088
321,296

Other creditors
14,178
5,537

Accruals and deferred income
248,524
306,628

970,586
1,309,359


The bank loans of £245,000 (2023 - £200,000) are secured by a fixed and floating charge over all the assets of the Company. The hire purchase agreements of £nil (2023 - £nil) are secured on the assets to which they relate.

Page 9

 
KESTERPORT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

11.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
-
245,000

-
245,000


The bank loans of £nil (2023 - £245,000) are secured by a fixed and floating charge over all the assets of the Company.


12.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
245,000
200,000


245,000
200,000

Amounts falling due 1-2 years

Bank loans
-
200,000


-
200,000

Amounts falling due 2-5 years

Bank loans
-
45,000


-
45,000


245,000
445,000


Page 10

 
KESTERPORT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

13.


Deferred taxation




2024


£






At beginning of year
(812)


Charged to profit or loss
812



At end of year
-

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
-
(812)

-
(812)


14.


Provisions




Deferred income

£





At 1 June 2023
223,520


Charged to profit or loss
(152,414)



At 31 May 2024
71,106

The income received in advance at the year end was £71,106 (2023 - £223,520).


15.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



9,090 (2023 - 9,090) Class "A" ordinary shares of £1.00 each
9,090
9,090
82 (2023 - 82) Class "B" ordinary shares of £1.00 each
82
82

9,172

9,172


Page 11

 
KESTERPORT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

16.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £74,036 (2023 - £53,835). Contributions totalling £4,991 (2023 - £5,537) were payable to the fund at the balance sheet date and are included in creditors.


17.Other financial commitments

At 31 May 2024 the company was committed to £nil (2023 - £276,683) in respect of forward currency contracts. Fair value measurement at the year end amounted to an derivative loss of £nil (2023 - loss of £15,916).


18.


Related party transactions

The company is a wholly owned subsidiary and accordingly has taken the exemptions provided within paragraph 33.1A of FRS 102 and therefore transactions with group companies have not been disclosed.


19.


Ultimate parent undertaking and controlling party

The company is a wholly owned subsidiary of Kestrel House Holdings LTD, a company incorporated in England and Wales.
The ultimate controlling parties are R D M Fletcher and N Fletcher by virtue of shareholding in Kestrel House Holdings Limited.


Page 12