Company registration number 15347869 (England and Wales)
KRY HOLDINGS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
KRY HOLDINGS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
KRY HOLDINGS LTD
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
Notes
£
£
Fixed assets
Investments
3
5,536,820
Current assets
Debtors
4
5,966
Cash at bank and in hand
150,000
155,966
Creditors: amounts falling due within one year
5
(1,836,996)
Net current liabilities
(1,681,030)
Total assets less current liabilities
3,855,790
Creditors: amounts falling due after more than one year
6
(3,855,378)
Net assets
412
Capital and reserves
Called up share capital
4
Profit and loss reserves
408
Total equity
412

For the financial period ended 31 December 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 period 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 13 June 2025 and are signed on its behalf by:
W Jones
Director
Company registration number 15347869 (England and Wales)
KRY HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

KRY Holdings Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 7, Coed Aben Road, Wrexham Ind Estate, Wrexham, Nth Wales, LL13 9UH.

1.1
Reporting period

The company was incorporated on 13th December 2023 therefore the first accounting period may not be directly comparable to the subsequent accounting year.

1.2
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.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

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.

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.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

KRY HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.5
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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

KRY HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
Number
Total
4
3
Fixed asset investments
2024
£
Shares in group undertakings and participating interests
5,536,820
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 13 December 2023
-
Additions
5,536,820
At 31 December 2024
5,536,820
Carrying amount
At 31 December 2024
5,536,820
4
Debtors
2024
Amounts falling due within one year:
£
Other debtors
5,966
5
Creditors: amounts falling due within one year
2024
£
Bank loans
152,005
Amounts owed to group undertakings
1,589,932
Other creditors
95,059
1,836,996
KRY HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
5
Creditors: amounts falling due within one year
(Continued)
- 5 -

There is a fixed and floating charge over the property of the company in favour of Santander Bank. There is also a floating charge in favour of Mr CC and Mrs WL Stockton over the property, relating to the purchase of the shares in the CIG group companies.

6
Creditors: amounts falling due after more than one year
2024
£
Bank loans and overdrafts
1,355,378
Other creditors
2,500,000
3,855,378

Within Creditors is an amount due to Mr C Stockton and Mrs W Stockton in respect of the purchase of the shares in Commercial & Industrial Gauges Ltd, F&A Dunbar Ltd, Remac Utility Solutions Ltd and Vernon Morris Utility Solutions Ltd.

 

There is a floating charge in respect of this creditor, covering all the property or undertaking of the company.

 

Within Creditors is a bank loan with £152,005 due within one year and £1,355,378 due in more than one year.

 

There is a fixed an floating charge in respect of this creditor, covering all the property or undertaking of the company.

 

7
Related party transactions
Transactions with related parties

During the period the company entered into the following transactions with related parties:

All transactions with 100% group companies have been concluded under normal market conditions and accordingly, no disclosure of these transactions has been made.

 

KRY Holdings Limited is 100% shareholder of:

 

 

Within creditors at the year end are the following balances with subsidiaries:

 

Commercial & Industrial Gauges Limited £1,589,182 (2023: NIL)

CIG Group Properties Limited - £750 (2023: NIL)

 

KRY Holdings Limited shares directors with Commercial & Industrial Gauges Limited, Remac Utility Services Limited, F. & A. Dunbar Limited, Vernon Morris Utility Solutions Limited, and CIG Group Properties Limited.

 

 

KRY HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 6 -
8
Directors' transactions

Dividends totalling £40,300 (2023: NIL) were paid in the period in respect of shares held by the company's directors.

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