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Registered number: 06660261
KESTREL WHOLESALE HOLDINGS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 JUNE 2024
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KESTREL WHOLESALE HOLDINGS LIMITED
REGISTERED NUMBER: 06660261
STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Provisions for liabilities
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Investment property reserve
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KESTREL WHOLESALE HOLDINGS LIMITED
REGISTERED NUMBER: 06660261
STATEMENT OF FINANCIAL POSITION (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 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 1 April 2025.
The notes on pages 3 to 9 form part of these financial statements.
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KESTREL WHOLESALE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
Kestrel Wholesale Holdings Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is Odington Clock House Close, Byfleet, West Byfleet, United Kingdom, KT14 7DB.
The company specialises in property investment and the provision of management services to public houses.
2.Accounting policies
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Basis of preparation of financial statements
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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:
The financial statements have been prepared on a going concern basis, notwithstanding that the financial statements recorded net current liabilities totalling £150,537 (2023 - £157,392).
The directors continue to support the business. At the reporting date, directors were owed amounts totalling £30,283 (2023 - £53,810) and Lincoln Arms Limited, a company owned by a common director, was owed £86,219 (2023 - £71,879). The directors have confirmed that they, and Lincoln Arms Limited, will not seek repayment of these amounts until such time as the company has sufficient funds to do so, and will continue to support the company to enable the company to pay its liabilities as they fall due.
On the above basis the directors consider that the preparation of the financial statements on a going concern basis is appropriate.
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. Revenue is recognised at the point the service is provided.
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.
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KESTREL WHOLESALE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
2.Accounting policies (continued)
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Tangible fixed assets (continued)
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Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.
Depreciation is provided on the following basis:
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 the Statement of comprehensive income.
Investment properties are properties held to earn rent and for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of the investment properties are included in the Statement of comprehensive income in the year in which they arise.
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Cash and cash equivalents
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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.
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.
Finance costs are charged to Statement of comprehensive income 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.
All borrowing costs are recognised in Statement of comprehensive income in the year in which they are incurred.
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KESTREL WHOLESALE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
2.Accounting policies (continued)
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Current and deferred taxation
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Tax is recognised in the Statement of comprehensive income, 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 at the reporting 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 Statement of financial position 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 reporting date.
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The average monthly number of employees, including directors, during the year was 4 (2023 - 4).
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KESTREL WHOLESALE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
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Freehold investment property
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The 2024 valuations were made by the directors, who are not property professionals,on an open market value for existing use basis.
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KESTREL WHOLESALE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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Bank loans are secured against the assets of the company.
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Creditors: Amounts falling due after more than one year
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Bank loans are secured against the assets of the company.
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KESTREL WHOLESALE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
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The provision for deferred taxation is made up as follows:
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Potential capital gains tax
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Allotted, called up and fully paid
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10,200 Ordinary shares of £1 each
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KESTREL WHOLESALE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
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Related party transactions
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Included within other creditors are amounts totalling £30,283 (2023 - £53,810) due to the directors of the company.
During the year, Lincoln Arms Ltd, a company with a common director, was charged management fees of £18,051 (2023 - £Nil) by Kestral Wholesale Holdings Limited, and made payments on behalf of Kestrel Wholesale Holdings Limited of £14,340 (2023 - £12,704). Lincoln Arms Ltd also transferred a creditor balance of £Nil (2023 - £2,204) to Kestrel Wholesale Holdings Limited. Included within other creditors is a balance of £86,219 (2023 - £71,879) due to Lincoln Arms Limited.
During the year, the company wrote off a balance of £90 (2023- £Nil) owed to it by Blue Anchor Byfleet Limited, a company with a common director. At the year end, a balance of £Nil (2023 - £6,966) owing by Blue Anchor Byfleet Limited was settled by the directors.
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The company is under the ultimate control of a director by virtue of his majority shareholding in the company.
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