Company registration number 11296702 (England and Wales)
24 KWS VENTURES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
24 KWS VENTURES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
24 KWS VENTURES LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
4
105,513,863
102,268,751
Current assets
Debtors
5
450
Cash at bank and in hand
10,389,893
9,887,653
10,390,343
9,887,653
Creditors: amounts falling due within one year
6
(18,195,967)
(15,611,135)
Net current liabilities
(7,805,624)
(5,723,482)
Total assets less current liabilities
97,708,239
96,545,269
Creditors: amounts falling due after more than one year
7
(53,774,015)
(53,746,754)
Net assets
43,934,224
42,798,515
Capital and reserves
Called up share capital
51,023,488
51,023,488
Profit and loss reserves
(7,089,264)
(8,224,973)
Total equity
43,934,224
42,798,515
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 19 May 2025 and are signed on its behalf by:
I Akselrad
Director
Company Registration No. 11296702
24 KWS VENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information
24 KWS Ventures Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2nd Floor, Regis House, 45 King William Street, London, United Kingdom, EC4R 9AN.
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 £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
At 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
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.4
Financial instruments
Trade and other receivables are measured at transaction price less any impairment unless the arrangement constitutes a financing transaction in which case the transaction is measured at the present value of the future receipts discounted at the prevailing market rate of interest. Loans are initially measured at fair value and are subsequently measured at amortised cost using the effective interest method less any impairment.
Classification of financial liabilities
Trade and other payables are measured at their transaction price unless the arrangement constitutes a financing transaction in which case the transaction is measured at present value of future payments discounted at the prevailing market rate of interest. Other financial liabilities are initially measured at fair value net of their transaction costs. They are subsequently measured at amortised cost using the effective interest method.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.5
Taxation
Taxation for the period 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.
24 KWS VENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
Current tax
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 period 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.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings
48,368,464
45,123,352
Other loans
57,145,399
57,145,399
105,513,863
102,268,751
24 KWS VENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
4
Fixed asset investments
(Continued)
- 4 -
Movements in fixed asset investments
Shares in group undertakings
Loans to group undertakings
Total
£
£
£
Cost or valuation
At 1 January 2024
45,123,352
57,145,399
102,268,751
Share of profit/(loss)
3,245,112
-
3,245,112
At 31 December 2024
48,368,464
57,145,399
105,513,863
Carrying amount
At 31 December 2024
48,368,464
57,145,399
105,513,863
At 31 December 2023
45,123,352
57,145,399
102,268,751
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
450
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,700
Amounts owed to group undertakings
17,495,812
15,086,319
Corporation tax
340,266
172,272
Other creditors
357,189
352,544
18,195,967
15,611,135
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
51,774,015
51,746,754
Other creditors
2,000,000
2,000,000
53,774,015
53,746,754
Bank loans noted above are secured by way of a fixed and floating charge over the property owned by 24 KWS LP, a limited partnership in which 24 KWS Ventures Limited is a partner.
24 KWS VENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
8
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Toby Mason
Statutory Auditor:
Azets Audit Services
9
Parent company
The immediate controlling party is 24 KWS Cayman Holdings Limited, an entity incorporated in the Cayman Islands. The ultimate controlling party is Cayman Beach LLC, an entity incorporated in the US.