Richard Kihl Limited 01083439 false 2024-02-01 2025-01-31 2025-01-31 The principal activity of the company is that of stock broking of fine wines and retailers. Digita Accounts Production Advanced 6.30.9574.0 true 01083439 2024-02-01 2025-01-31 01083439 2025-01-31 01083439 core:RetainedEarningsAccumulatedLosses 2025-01-31 01083439 core:ShareCapital 2025-01-31 01083439 core:CurrentFinancialInstruments core:WithinOneYear 2025-01-31 01083439 core:FurnitureFittingsToolsEquipment 2025-01-31 01083439 core:LandBuildings 2025-01-31 01083439 bus:SmallEntities 2024-02-01 2025-01-31 01083439 bus:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 01083439 bus:FilletedAccounts 2024-02-01 2025-01-31 01083439 bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 01083439 bus:RegisteredOffice 2024-02-01 2025-01-31 01083439 bus:CompanySecretary1 2024-02-01 2025-01-31 01083439 bus:Director1 2024-02-01 2025-01-31 01083439 bus:OrdinaryShareClass1 2024-02-01 2025-01-31 01083439 bus:OtherUK 2024-02-01 2025-01-31 01083439 bus:Agent1 2024-02-01 2025-01-31 01083439 core:RetainedEarningsAccumulatedLosses 2024-02-01 2025-01-31 01083439 core:ShareCapital 2024-02-01 2025-01-31 01083439 core:FurnitureFittingsToolsEquipment 2024-02-01 2025-01-31 01083439 core:LandBuildings 2024-02-01 2025-01-31 01083439 core:LeaseholdImprovements 2024-02-01 2025-01-31 01083439 countries:EnglandWales 2024-02-01 2025-01-31 01083439 2024-01-31 01083439 core:RetainedEarningsAccumulatedLosses 2024-01-31 01083439 core:ShareCapital 2024-01-31 01083439 core:FurnitureFittingsToolsEquipment 2024-01-31 01083439 core:LandBuildings 2024-01-31 01083439 2023-02-01 2024-01-31 01083439 2024-01-31 01083439 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 01083439 core:FurnitureFittingsToolsEquipment 2024-01-31 01083439 core:LandBuildings 2024-01-31 01083439 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 01083439 core:RetainedEarningsAccumulatedLosses 2023-02-01 2024-01-31 01083439 core:ShareCapital 2023-02-01 2024-01-31 01083439 2023-01-31 01083439 core:RetainedEarningsAccumulatedLosses 2023-01-31 01083439 core:ShareCapital 2023-01-31 iso4217:GBP xbrli:pure

Registration number: 01083439

Richard Kihl Limited

Unaudited Filleted Financial Statements

Pages for filing with the Registrar

for the Year Ended 31 January 2025

 

Richard Kihl Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Statement of Changes in Equity

5

Notes to the Unaudited Financial Statements

6 to 11

 

Richard Kihl Limited

Company Information

Director

Mr A Irvine

Company secretary

Mrs R M Irvine

Registered office

142 High Street
Aldeburgh
Suffolk
IP15 5AQ

Accountants

Oxlade & Bond Limited
Chartered Certified AccountantsUnit 14, Riduna Park
Station Road
Melton
Woodbridge
Suffolk
IP12 1QT

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Richard Kihl Limited
for the Year Ended 31 January 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Richard Kihl Limited for the year ended 31 January 2025 as set out on pages 3 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/gb/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of Richard Kihl Limited, as a body, in accordance with the terms of our engagement letter dated 21 May 2024. Our work has been undertaken solely to prepare for your approval the accounts of Richard Kihl Limited and state those matters that we have agreed to state to the Board of Directors of Richard Kihl Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Richard Kihl Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Richard Kihl Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Richard Kihl Limited. You consider that Richard Kihl 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 accounts of Richard Kihl 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 accounts.

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

Oxlade & Bond Limited
Chartered Certified Accountants
Unit 14, Riduna Park
Station Road
Melton
Woodbridge
Suffolk
IP12 1QT

13 May 2025

 

Richard Kihl Limited

(Registration number: 01083439)
Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

8,778

10,133

Current assets

 

Stocks

5

219,721

329,281

Debtors

6

59,382

93,153

Cash at bank and in hand

 

493,166

358,183

 

772,269

780,617

Creditors: Amounts falling due within one year

7

(298,790)

(297,371)

Net current assets

 

473,479

483,246

Total assets less current liabilities

 

482,257

493,379

Provisions for liabilities (deferred taxation)

(1,870)

(2,155)

Net assets

 

480,387

491,224

Capital and reserves

 

Called up share capital

5,001

5,001

Profit and loss account

475,386

486,223

Total equity

 

480,387

491,224

 

Richard Kihl Limited

(Registration number: 01083439)
Balance Sheet as at 31 January 2025

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 13 May 2025

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

Mr A Irvine
Director

 

Richard Kihl Limited

Statement of Changes in Equity for the Year Ended 31 January 2025

Called up share capital
£

Profit and loss account
£

Total equity
£

At 1 February 2024

5,001

486,223

491,224

Profit for the year

-

39,763

39,763

Total comprehensive income

-

39,763

39,763

Dividends

-

(50,600)

(50,600)

At 31 January 2025

5,001

475,386

480,387

Called up share capital
£

Profit and loss account
£

Total equity
£

At 1 February 2023

5,001

486,219

491,220

Profit for the year

-

64,754

64,754

Total comprehensive income

-

64,754

64,754

Dividends

-

(64,750)

(64,750)

At 31 January 2024

5,001

486,223

491,224

 

Richard Kihl Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

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:
142 High Street
Aldeburgh
Suffolk
IP15 5AQ

These financial statements were authorised for issue by the director on 13 May 2025 .

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.

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 £.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are recorded at the exchange rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

 

Richard Kihl Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

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 corporation 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.

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.

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.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

15% reducing balance

Furniture, fittings and equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Richard Kihl Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

The pension charge includes employer contributions to employees work place pension schemes under the pensions auto enrolment reguilations.

 

Richard Kihl Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised in the profit and loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.


3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2024 - 5).

 

Richard Kihl Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

4

Tangible assets

Leasehold improvements
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2024

54,848

128,966

183,814

Additions

-

1,244

1,244

At 31 January 2025

54,848

130,210

185,058

Depreciation

At 1 February 2024

54,508

119,173

173,681

Charge for the year

51

2,548

2,599

At 31 January 2025

54,559

121,721

176,280

Carrying amount

At 31 January 2025

289

8,489

8,778

At 31 January 2024

340

9,793

10,133

5

Stocks

2025
£

2024
£

Stock of goods for resale

219,721

329,281

6

Debtors

2025
£

2024
£

Trade debtors

46,050

82,132

Prepayments

13,332

11,021

59,382

93,153

 

Richard Kihl Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

7

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Trade creditors

121,764

101,672

Taxation and social security

33,697

23,119

Accruals and deferred income

32,043

41,138

Other creditors

111,286

131,442

298,790

297,371

8

Reserves

The profit and loss reserves of the company are fully distributable.

9

Dividends

Interim dividends paid

2025
£

2024
£

Interim dividend of £10.12 (2024 - £12.95) per each ordinary share

50,600

64,750

 

 

10

Financial commitments, guarantees and contingencies

Amounts disclosed in the balance sheet

The total amount of financial commitments not included in the balance sheet is £142,000 (2024 - £163,300). The commitments not included in the balance sheet relate to the operating lease commitments in respect of the total rent payable by the company to the end of the current lease on the premises which they operate from.

11

Related party transactions

Other transactions with the director

Included in creditors at the 31st January 2025 is a sum of £1,132 (2024 - £5,520) in respect of undrawn expenses at the year end.

The director has not charged the company interest on this current account balance.