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REGISTERED NUMBER: 03816356 (England and Wales)
























Financial Statements

for the Year Ended 31 July 2024

for

Kevin Kirby Limited

Kevin Kirby Limited (Registered number: 03816356)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Kevin Kirby Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: K M Kirby
Mrs E A Kirby





SECRETARY: Mrs E A Kirby





REGISTERED OFFICE: 140 Rayne Road
Braintree
Essex
CM7 2QR





REGISTERED NUMBER: 03816356 (England and Wales)





ACCOUNTANTS: Baverstocks Group Limited
140 Rayne Road
Braintree
Essex
CM7 2QR

Kevin Kirby Limited (Registered number: 03816356)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 2,000 -
Tangible assets 5 828,913 909,836
Investment property 6 1,001,625 888,033
1,832,538 1,797,869

CURRENT ASSETS
Stocks 263,100 376,550
Debtors 7 14,202 74,044
Cash at bank 43,370 55,289
320,672 505,883
CREDITORS
Amounts falling due within one year 8 725,866 766,803
NET CURRENT LIABILITIES (405,194 ) (260,920 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,427,344

1,536,949

CREDITORS
Amounts falling due after more than one
year

9

(145,540

)

(240,747

)

PROVISIONS FOR LIABILITIES (133,987 ) (163,558 )
NET ASSETS 1,147,817 1,132,644

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 11 59,868 59,868
Retained earnings 1,087,849 1,072,676
SHAREHOLDERS' FUNDS 1,147,817 1,132,644

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

Kevin Kirby Limited (Registered number: 03816356)

Balance Sheet - continued
31 July 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 3 April 2025 and were signed on its behalf by:





K M Kirby - Director


Kevin Kirby Limited (Registered number: 03816356)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Kevin Kirby Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover represents invoiced hirings and sales excluding value added tax as appropriate.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

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.
Agricultural machinery - 25% on reducing balance and 20% on reducing balance
Plant & machinery - 25% on reducing balance
Hospitality assets & cabin - see note below
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

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.

Kevin Kirby Limited (Registered number: 03816356)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Revaluation of tangible fixed assets
The investment property is carried at fair value at the balance sheet date. The valuation is made by the directors.

Depreciation
Depreciation on the hospitality assets and the cabin is charged at 25% reducing balance and 5% on cost respectively.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 2,000
At 31 July 2024 2,000
NET BOOK VALUE
At 31 July 2024 2,000

Kevin Kirby Limited (Registered number: 03816356)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

5. TANGIBLE FIXED ASSETS
Freehold Agricultural Plant &
property machinery machinery
£    £    £   
COST OR VALUATION
At 1 August 2023 254,991 1,028,952 108,987
Additions - - 12,452
Disposals - (386,776 ) -
At 31 July 2024 254,991 642,176 121,439
DEPRECIATION
At 1 August 2023 - 733,178 76,846
Charge for year - 49,964 11,156
Eliminated on disposal - (340,817 ) -
At 31 July 2024 - 442,325 88,002
NET BOOK VALUE
At 31 July 2024 254,991 199,851 33,437
At 31 July 2023 254,991 295,774 32,141

Hospitality
assets & Motor Computer
cabin vehicles equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 August 2023 317,725 107,905 5,038 1,823,598
Additions 39,787 2,000 3,349 57,588
Disposals - - - (386,776 )
At 31 July 2024 357,512 109,905 8,387 1,494,410
DEPRECIATION
At 1 August 2023 52,837 46,088 4,813 913,762
Charge for year 14,583 15,955 894 92,552
Eliminated on disposal - - - (340,817 )
At 31 July 2024 67,420 62,043 5,707 665,497
NET BOOK VALUE
At 31 July 2024 290,092 47,862 2,680 828,913
At 31 July 2023 264,888 61,817 225 909,836

Kevin Kirby Limited (Registered number: 03816356)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

5. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 July 2024 is represented by:

Freehold Agricultural Plant &
property machinery machinery
£    £    £   
Valuation in 2016 295,000 1,540,856 93,337
Valuation in 2017 8,500 (206,265 ) 3,825
Valuation in 2018 (48,509 ) (139,635 ) 469
Valuation in 2019 - 31,774 -
Valuation in 2020 - 71,000 (28,849 )
Valuation in 2021 - (159,938 ) 1,161
Valuation in 2022 - (151,825 ) 8,106
Valuation in 2023 - 42,985 30,938
Valuation in 2024 - (386,776 ) 12,452
254,991 642,176 121,439

Hospitality
assets & Motor Computer
cabin vehicles equipment Totals
£    £    £    £   
Valuation in 2016 26,517 22,115 4,289 1,982,114
Valuation in 2017 - - - (193,940 )
Valuation in 2018 48,509 - 577 (138,589 )
Valuation in 2019 - - - 31,774
Valuation in 2020 - - - 42,151
Valuation in 2021 - - - (158,777 )
Valuation in 2022 195,000 45,995 172 97,448
Valuation in 2023 47,699 39,795 - 161,417
Valuation in 2024 39,787 2,000 3,349 (329,188 )
357,512 109,905 8,387 1,494,410

If freehold property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 254,991 254,991

Value of land in freehold land and buildings 254,991 254,991

Freehold property was valued on an open market basis on 31 July 2024 by the director, Mr K Kirby .

Kevin Kirby Limited (Registered number: 03816356)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Agricultural Motor
machinery vehicles Totals
£    £    £   
COST OR VALUATION
At 1 August 2023 596,001 85,790 681,791
Transfer to ownership (471,001 ) - (471,001 )
At 31 July 2024 125,000 85,790 210,790
DEPRECIATION
At 1 August 2023 394,741 24,268 419,009
Charge for year 20,000 15,381 35,381
Transfer to ownership (369,741 ) - (369,741 )
At 31 July 2024 45,000 39,649 84,649
NET BOOK VALUE
At 31 July 2024 80,000 46,141 126,141
At 31 July 2023 201,260 61,522 262,782

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023 888,033
Additions 113,592
At 31 July 2024 1,001,625
NET BOOK VALUE
At 31 July 2024 1,001,625
At 31 July 2023 888,033

The investment property was purchased in July 2016 and substantial property improvements have been carried out in the 2023, 2022 and 2021 years. The director, Mr K M Kirby, considers the fair market value as at 31 July 2024 to be £1,001,625.

Fair value at 31 July 2024 is represented by:
£   
Valuation in 2016 488,383
Valuation in 2017 21,250
Valuation in 2021 230,000
Valuation in 2022 101,000
Valuation in 2023 47,400
Valuation in 2024 113,592
1,001,625

Kevin Kirby Limited (Registered number: 03816356)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,300 71,100
Other debtors 10,902 580
Directors' current accounts - 564
Prepayments - 1,800
14,202 74,044

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 361,780 352,935
Hire purchase contracts 229,832 146,150
Trade creditors 31,235 176,705
Tax 49,023 32,105
Social security and other taxes 18,487 55,108
Other creditors 30,600 -
Directors' current accounts 919 -
Accrued expenses 3,990 3,800
725,866 766,803

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 30,998 54,948
Bank loans - 2-5 years 16,188 59,344
Hire purchase contracts 98,354 126,455
145,540 240,747

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 408,966 467,227
Hire purchase contracts 328,186 272,605
737,152 739,832

The bank loan is secured by a legal charge on the freehold property of the company.

11. RESERVES
Fair
value
reserve
£   
At 1 August 2023
and 31 July 2024 59,868

Kevin Kirby Limited (Registered number: 03816356)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023:

2024 2023
£    £   
K M Kirby
Balance outstanding at start of year 564 -
Amounts advanced - 564
Amounts repaid (564 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 564

The company does not charge interest on the overdrawn director's loan account.

13. RELATED PARTY DISCLOSURES

In July 2011 the company lent the director's self invested pension scheme (The Woodview Trust) an amount of £108,835 for the purchase of freehold commercial property held within the scheme. This loan is repayable to the company over 15 years and interest on the loan is to be charged to The Woodfield Trust at a rate of 3%. The loan was fully repaid in the year ended 31 July 2021.The company paid The Woodfield Trust £22,500 rent for the use of the property in the 2024 year.

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the director, Mr K Kirby, through his shareholding in this company.