Company registration number 05473885 (England and Wales)
KINDER ESTATES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
PAGES FOR FILING WITH REGISTRAR
KINDER ESTATES LIMITED
COMPANY INFORMATION
Directors
J Kinder
V R Kinder
V L Kinder
A J Saini
N A Waqalevu
G S Collins
Secretary
V R Kinder
Company number
05473885
Registered office
5 Prospect Place
Millennium Way
Pride Park
Derby
DE24 8HG
Accountants
Ashgates Corporate Services Limited
5 Prospect Place
Millennium Way
Pride Park
Derby
DE24 8HG
KINDER ESTATES LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
KINDER ESTATES LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF KINDER ESTATES LIMITED FOR THE YEAR ENDED 30 NOVEMBER 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kinder Estates Limited for the year ended 30 November 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 Kinder Estates Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Kinder Estates Limited and state those matters that we have agreed to state to the board of directors of Kinder Estates Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kinder Estates Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Kinder Estates 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 loss of Kinder Estates Limited. You consider that Kinder Estates Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Kinder Estates 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.
Ashgates Corporate Services Limited
5 Prospect Place
Millennium Way
Pride Park
Derby
DE24 8HG
28 March 2025
KINDER ESTATES LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2024
30 November 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
145,834
71,312
Investment property
4
2,070,000
2,070,000
Investments
5
76
76
2,215,910
2,141,388
Current assets
Debtors
6
355,993
511,965
Cash at bank and in hand
159
1,687
356,152
513,652
Creditors: amounts falling due within one year
7
(33,911)
(248,490)
Net current assets
322,241
265,162
Total assets less current liabilities
2,538,151
2,406,550
Creditors: amounts falling due after more than one year
8
(2,284,321)
(2,110,454)
Provisions for liabilities
(134,407)
(134,407)
Net assets
119,423
161,689
Capital and reserves
Called up share capital
9
10
10
Revaluation reserve
639,500
639,500
Profit and loss reserves
(520,087)
(477,821)
Total equity
119,423
161,689
KINDER ESTATES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2024
30 November 2024
- 3 -
For the financial year ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 28 March 2025 and are signed on its behalf by:
V R Kinder
Director
Company registration number 05473885 (England and Wales)
KINDER ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 4 -
1
Accounting policies
Company information
Kinder Estates Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 Prospect Place, Millennium Way, Pride Park, Derby, DE24 8HG.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
25% reducing balance
Fixtures, fittings and equipment
25% reducing balance
Motor vehicles
15% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
Property rented to a group entity is accounted for at fair value with changes in fair value recognised in profit or loss OR as tangible fixed assets.
KINDER ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.6
Fixed asset investments
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
KINDER ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 6 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.9
Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
6
6
KINDER ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 7 -
3
Tangible fixed assets
Plant and machinery
Fixtures, fittings and equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 December 2023
30,082
160,948
34,524
225,554
Additions
100,000
100,000
Disposals
(1,345)
(16,850)
(18,195)
At 30 November 2024
30,082
259,603
17,674
307,359
Depreciation and impairment
At 1 December 2023
29,859
95,636
28,747
154,242
Depreciation charged in the year
223
18,833
1,472
20,528
Eliminated in respect of disposals
(700)
(12,545)
(13,245)
At 30 November 2024
30,082
113,769
17,674
161,525
Carrying amount
At 30 November 2024
145,834
145,834
At 30 November 2023
223
65,312
5,777
71,312
4
Investment property
2024
£
Fair value
At 1 December 2023 and 30 November 2024
2,070,000
There has been no valuation of investment property by an independent valuer.
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
76
76
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,250
162
Other debtors
354,743
511,803
355,993
511,965
KINDER ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 8 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
12,141
13,898
Taxation and social security
871
3,125
Other creditors
20,899
231,467
33,911
248,490
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
2,284,321
2,110,454
2,284,321
2,110,454
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
3
3
3
3
Ordinary B shares of £1 each
3
3
3
3
Ordinary C shares of £1 each
1
1
1
1
Ordinary D shares of £1 each
1
1
1
1
Ordinary E shares of £1 each
1
1
1
1
Ordinary F shares of £1 each
1
1
1
1
10
10
10
10
11
Directors' transactions
At the balance sheet date amounts owed to directors amounted to £2,284,321 (2023 - £2,110,454).