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REGISTERED NUMBER: 02587551 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

KEISBY ESTATE LIMITED

KEISBY ESTATE LIMITED (REGISTERED NUMBER: 02587551)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KEISBY ESTATE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: S C Richardson
K L Richardson
A D Richardson





REGISTERED OFFICE: Villa Farm
Keisby
Bourne
Lincs
PE10 0RZ





REGISTERED NUMBER: 02587551 (England and Wales)





ACCOUNTANTS: TC CH Limited
4 Office Village
Forder Way
Cygnet Park, Hampton
Peterborough
Cambridgeshire
PE7 8GX

KEISBY ESTATE LIMITED (REGISTERED NUMBER: 02587551)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,126,680 2,189,702
Investments 5 - 15
Investment property 6 666,000 -
2,792,680 2,189,717

CURRENT ASSETS
Stocks 7 228,379 336,784
Debtors 8 158,798 174,516
Cash in hand - (509 )
387,177 510,791
CREDITORS
Amounts falling due within one year 9 625,769 496,429
NET CURRENT (LIABILITIES)/ASSETS (238,592 ) 14,362
TOTAL ASSETS LESS CURRENT LIABILITIES 2,554,088 2,204,079

CREDITORS
Amounts falling due after more than one
year

10

(807,416

)

(857,782

)

PROVISIONS FOR LIABILITIES 13 (392,224 ) (265,021 )
NET ASSETS 1,354,448 1,081,276

CAPITAL AND RESERVES
Called up share capital 14 8,666 13,666
Share premium 15 - 403,405
Fair value reserve 15 409,500 -
Retained earnings 15 936,282 664,205
SHAREHOLDERS' FUNDS 1,354,448 1,081,276

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

KEISBY ESTATE LIMITED (REGISTERED NUMBER: 02587551)

BALANCE SHEET - continued
30 JUNE 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 March 2025 and were signed on its behalf by:





S C Richardson - Director


KEISBY ESTATE LIMITED (REGISTERED NUMBER: 02587551)

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


1. STATUTORY INFORMATION

Keisby Estate Ltd is a private limited company, limited by shares, registered in England and Wales. The company's registered number and registered office address are as below:

Registered Number: 02587551

Registered office: Villa Farm, Keisby, Near Bourne, Lincolnshire. PE10 0RZ

The presentation currency of the financial statements is the Pound Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

No significant judgements (apart from those involving estimations) have been made by management in the process of applying the entity's accounting policies and preparing these financial statements.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There have been no key assumptions or there sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 33% on reducing balance, 25% on reducing balance, 20% on reducing balance and 15% on reducing balance
Motor vehicles - 25% on reducing balance

At each balance sheet date assets not carried at fair value are assessed to determine whether there is an indication that the asset may be impaired. If there is such an indication the recoverable amount of the asset is compared to the carrying amount of the asset.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

KEISBY ESTATE LIMITED (REGISTERED NUMBER: 02587551)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost.

Financial liabilities - trade creditors, accruals and other creditors and basic financial instruments and are measured at amortised cost. Taxation and social security and not included in the financial instruments disclosure definition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Debtors
Short term debtors are initially measured at transaction price less attributable costs and then subsequently measured at amortised costs using EIR. 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.

KEISBY ESTATE LIMITED (REGISTERED NUMBER: 02587551)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

Creditors
Short term trade creditors are initially measured at transaction price less attributable costs. 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 July 2023 1,033,896 2,183,802 96,508 3,314,206
Additions 88,040 135,426 - 223,466
Disposals - (139,477 ) - (139,477 )
Reclassification/transfer (120,000 ) 8,800 (11,722 ) (122,922 )
At 30 June 2024 1,001,936 2,188,551 84,786 3,275,273
DEPRECIATION
At 1 July 2023 - 1,085,648 38,856 1,124,504
Charge for year - 140,310 13,686 153,996
Eliminated on disposal - (126,985 ) - (126,985 )
Reclassification/transfer - 8,800 (11,722 ) (2,922 )
At 30 June 2024 - 1,107,773 40,820 1,148,593
NET BOOK VALUE
At 30 June 2024 1,001,936 1,080,778 43,966 2,126,680
At 30 June 2023 1,033,896 1,098,154 57,652 2,189,702

KEISBY ESTATE LIMITED (REGISTERED NUMBER: 02587551)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 93,000 53,317 146,317
DEPRECIATION
At 1 July 2023 26,156 14,323 40,479
Charge for year 16,711 9,748 26,459
At 30 June 2024 42,867 24,071 66,938
NET BOOK VALUE
At 30 June 2024 50,133 29,246 79,379
At 30 June 2023 66,844 38,994 105,838

5. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 July 2023 15
Disposals (15 )
At 30 June 2024 -
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 15

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Revaluations 546,000
Reclassification/transfer 120,000
At 30 June 2024 666,000
NET BOOK VALUE
At 30 June 2024 666,000

KEISBY ESTATE LIMITED (REGISTERED NUMBER: 02587551)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


6. INVESTMENT PROPERTY - continued

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2025 546,000
Cost 120,000
666,000

7. STOCKS
2024 2023
£    £   
Stocks 228,379 336,784

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 136,662 145,754
VAT 17,175 22,969
Prepayments 4,961 5,793
158,798 174,516

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 11) 250,718 157,485
Hire purchase contracts 51,195 20,451
Trade creditors 96,346 38,299
Corporation tax 22,828 89,121
Social security and other taxes 1,929 1,446
Other creditors 50,000 50,000
Directors' current accounts 341 1,573
Accrued expenses 152,412 138,054
625,769 496,429

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 11) 529,724 593,204
Hire purchase contracts 71,323 59,935
Other Creditors - Pension Sche 206,369 204,643
807,416 857,782

KEISBY ESTATE LIMITED (REGISTERED NUMBER: 02587551)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


11. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 189,635 96,402
Bank loans 61,083 61,083
250,718 157,485

Amounts falling due between one and two years:
Bank loans - 1-2 years 529,724 593,204

12. SECURED DEBTS

A legal charge dated 20 June 2014 is held by National Westminister Bank PLC over all monies or hereafter to become due or from time to time accruing due from the company to the bank upon any account and in any manner whatsoever. The legal charge is held against the land forming Villa Farm, Keisby, Lincolnshire being part of the properties registered under title numbers LL302093, LL302081 and LL296684 and the whole of the property registerd under the title number LL124186.

A debenture dated 4 April 2014 is held by National Westminister Bank PLC over all monies due or to become due from the company to the chargee on any account whatsoever. Fixed and floating charges over the undertaking and all property and assets present and future including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant and machinery.

A legal charge dated 2 September 2011 is held by Alan Duncan Richardson, Elizabeth Mary Richardson, Simon Charles Richardson, Katy Louise Richardson & Berkeley Burke Trustee Company Limited for the amount secured of £200,000.00 and all other monies due or to become due from the company to the chargee as the trustees of the keisby estate limited pension fund under the terms of the aforementioned instrument creating or evidencing the charge. The legal charge is held against the property k/a land at keisby bourne lincolnshire part of title number LL296684.

13. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 392,224 265,021

Deferred
tax
£   
Balance at 1 July 2023 265,021
Provided during year 127,203
Balance at 30 June 2024 392,224

KEISBY ESTATE LIMITED (REGISTERED NUMBER: 02587551)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2,166 Ordinary A £1 2,166 2,166
6,500 Ordinary B £1 6,500 6,500
NIL Preference £1 - 5,000
8,666 13,666

15. RESERVES
Fair
Retained Share value
earnings premium reserve Totals
£    £    £    £   

At 1 July 2023 664,205 403,405 - 1,067,610
Profit for the year 456,692 456,692
Dividends (178,520 ) (178,520 )
Capital redemption 403,405 (403,405 ) - -
Revaluation Gains and Losses (409,500 ) - 409,500 -
At 30 June 2024 936,282 - 409,500 1,345,782

16. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end the directors were owed £341 (2023 - £1,573). This loan is unsecured, interest free and repayable on demand.

17. RELATED PARTY DISCLOSURES

At the year end Keisby Pension Limited was owed £256,369 (2023 - £254,643). Interest of £1,727 has been charged and is repayable on demand. This is included in other creditors.

18. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is shared between Mrs Katy Richardson, Mr Simon Richardson, Mr William Quantrill and Mr Jarred Wright.