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Company registration number: 07455322
Kestan 23 Limited
Unaudited filleted financial statements
30 November 2024
Kestan 23 Limited
Contents
Statement of financial position
Notes to the financial statements
Kestan 23 Limited
Statement of financial position
30 November 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 4 458,715 461,039
_______ _______
458,715 461,039
Current assets
Debtors 5 28,350 25,818
Cash at bank and in hand 6,581 578
_______ _______
34,931 26,396
Creditors: amounts falling due
within one year 6 ( 73,871) ( 42,190)
_______ _______
Net current liabilities ( 38,940) ( 15,794)
_______ _______
Total assets less current liabilities 419,775 445,245
Creditors: amounts falling due
after more than one year 7 ( 14,478) ( 41,650)
_______ _______
Net assets 405,297 403,595
_______ _______
Capital and reserves
Called up share capital 100 100
Revaluation reserve 2,275 2,275
Profit and loss account 402,922 401,220
_______ _______
Shareholders funds 405,297 403,595
_______ _______
For the year ending 30 November 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act 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 and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 09 April 2025 , and are signed on behalf of the board by:
Mr A Parker
Director
Company registration number: 07455322
Kestan 23 Limited
Notes to the financial statements
Year ended 30 November 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Office FF10 Brooklands House, 58 Marlborough Road, Lancing, West Sussex, BN15 8AF.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Long leasehold property - Straight line over the life of the lease
Fittings fixtures and equipment - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Tangible assets
Long leasehold property Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 December 2023 and 30 November 2024 450,000 11,620 461,620
_______ _______ _______
Depreciation
At 1 December 2023 - 581 581
Charge for the year - 2,324 2,324
_______ _______ _______
At 30 November 2024 - 2,905 2,905
_______ _______ _______
Carrying amount
At 30 November 2024 450,000 8,715 458,715
_______ _______ _______
At 30 November 2023 450,000 11,039 461,039
_______ _______ _______
5. Debtors
2024 2023
£ £
Other debtors 28,350 25,818
_______ _______
6. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 27,199 26,638
Corporation tax 944 751
Other creditors 45,728 14,801
_______ _______
73,871 42,190
_______ _______
7. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 14,478 41,650
_______ _______
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr A Parker ( 13,865) ( 29,081) ( 42,946)
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr A Parker ( 56,776) 42,911 ( 13,865)
_______ _______ _______
The directors loans are interest free, unsecured and repayable on demand.