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Registration number: 10861384

Kingsbury Estate (Brighton) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Kingsbury Estate (Brighton) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Kingsbury Estate (Brighton) Limited

Company Information

Directors

GA Taylor

S J B Taylor

G N Taylor

Registered office

Maria House
35 Millers Road
Brighton
BN1 5NP

Accountants

Chisnall Comer Ismail and Co
Chartered AccountantsMaria House
35 Millers Road
Brighton
BN1 5NP

 

Kingsbury Estate (Brighton) Limited

(Registration number: 10861384)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

11,945,000

11,010,268

Current assets

 

Debtors

5

706,092

773,583

Cash at bank and in hand

 

127,026

112,666

 

833,118

886,249

Creditors: Amounts falling due within one year

6

(262,356)

(302,634)

Net current assets

 

570,762

583,615

Total assets less current liabilities

 

12,515,762

11,593,883

Creditors: Amounts falling due after more than one year

6

(3,380,358)

(3,450,071)

Provisions for liabilities

(233,683)

-

Net assets

 

8,901,721

8,143,812

Capital and reserves

 

Called up share capital

10

200

200

Share premium reserve

7,474,345

7,474,345

Other reserves

701,049

-

Retained earnings

726,127

669,267

Shareholders' funds

 

8,901,721

8,143,812

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Kingsbury Estate (Brighton) Limited

(Registration number: 10861384)
Balance Sheet as at 31 March 2024

Approved and authorised by the Board on 17 April 2025 and signed on its behalf by:



 

.........................................

GA Taylor

Director

 

Kingsbury Estate (Brighton) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Maria House
35 Millers Road
Brighton
BN1 5NP

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Kingsbury Estate (Brighton) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

 

Kingsbury Estate (Brighton) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 April 2023

11,010,268

11,010,268

Revaluations

934,732

934,732

At 31 March 2024

11,945,000

11,945,000

Depreciation

Carrying amount

At 31 March 2024

11,945,000

11,945,000

At 31 March 2023

11,010,268

11,010,268

Included within the net book value of land and buildings above is £11,945,000 (2023 - £11,010,268) in respect of freehold land and buildings.
 

5

Debtors

Current

2024
£

2023
£

Trade debtors

44,975

51,798

Prepayments

2,655

-

Other debtors

658,462

721,785

 

706,092

773,583

 

Kingsbury Estate (Brighton) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

2,959

16,677

Taxation and social security

21,661

47,469

Accruals and deferred income

30,829

26,341

Other creditors

206,907

212,147

262,356

302,634

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

3,380,358

3,450,071

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

3,380,358

3,450,071

8

Dividends

2024

2023

£

£

Interim dividend of £Nil (2023 - £130.60) per ordinary share

-

26,120

 

 
 

Kingsbury Estate (Brighton) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

9

Related party transactions

Summary of transactions with other related parties


Kingsbury Estate (Hassocks) Limited
A company in which the directors, Mr & Mrs R B Taylor, Mr G N Taylor and Mr S J B Taylor are directors.
At the balance sheet date, the amount due to the related party was £130,534 (2023: £130,474).

Kingsbury Estate Limited
A company in which the directors, Mr & Mrs R B Taylor, Mr G N Taylor and Mr S J B Taylor are directors.
At the balance sheet date, the amount due from the related party was £658,461 (2023: £721,786).

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

ordinary of £1 each

200

200

200

200