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Registered number: 11473950










KINGSTON INDUSTRIAL ESTATE LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
KINGSTON INDUSTRIAL ESTATE LIMITED
REGISTERED NUMBER: 11473950

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
128
128

Investment property
 5 
2,925,000
4,000,000

  
2,925,128
4,000,128

Current assets
  

Debtors: amounts falling due within one year
 6 
18,568
3,185

Cash at bank and in hand
 7 
61,056
35,204

  
79,624
38,389

Creditors: amounts falling due within one year
 8 
(1,592,228)
(2,059,504)

Net current liabilities
  
 
 
(1,512,604)
 
 
(2,021,115)

Total assets less current liabilities
  
1,412,524
1,979,013

Creditors: amounts falling due after more than one year
 9 
(1,405,971)
(1,983,477)

  

Net assets/(liabilities)
  
6,553
(4,464)


Capital and reserves
  

Called up share capital 
  
105
105

Other reserves
 10 
-
(41,150)

Profit and loss account
 10 
6,448
36,581

  
6,553
(4,464)


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 July 2025.


T W Brown  FCCA CTA FCG FAIA
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 1

 
KINGSTON INDUSTRIAL ESTATE LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024


Called up share capital
Other reserves
Profit and loss account
Total equity

£
£
£
£


At 1 January 2023
105
-
17,356
17,461



Loss for the year
-
-
(21,925)
(21,925)

Fair value movements
-
(41,150)
41,150
-



At 1 January 2024
105
(41,150)
36,581
(4,464)



Profit for the year
-
-
11,017
11,017

Fair value movements
-
41,150
(41,150)
-


At 31 December 2024
105
-
6,448
6,553


The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
KINGSTON INDUSTRIAL ESTATE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

The company is a private company limited by shares, incorporated in England and Wales. The address of the registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The accounts have been prepared on a going concern basis as a company director and shareholder has confirmed they will continue to provide funds for the company to meet its liabilities as they fall due. 

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
KINGSTON INDUSTRIAL ESTATE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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


 
2.7

Investment property

Investment property is carried at fair value determined annually by annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for
Page 4

 
KINGSTON INDUSTRIAL ESTATE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.12
Financial instruments (continued)

impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 3).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 January 2024
128



At 31 December 2024
128




Page 5

 
KINGSTON INDUSTRIAL ESTATE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Investment property


Freehold investment property

£



Valuation


At 1 January 2024
4,000,000


Deficit on revaluation
(1,075,000)



At 31 December 2024
2,925,000

The 2024 valuations were made by Savills, on an open market value for existing use basis.



At 31 December 2024



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
4,041,150
4,041,150

4,041,150
4,041,150


6.


Debtors

2024
2023
£
£


Trade debtors
6,417
3,185

Prepayments and accrued income
12,151
-

18,568
3,185



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
61,056
35,204


Page 6

 
KINGSTON INDUSTRIAL ESTATE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank facility
1,511,433
2,011,355

Trade creditors
951
1,686

Amounts owed to group undertakings
46
46

Corporation tax
28,673
5,542

Other creditors
9,000
9,000

Accruals and deferred income
42,125
31,875

1,592,228
2,059,504



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Amounts owed to group undertakings
1,405,971
1,983,477



10.


Reserves

Other reserves

This comprises the accumulated movements in the fair value of Investment property and the associated deferred tax provision, where applicable.

Profit and loss account

This comprises of accumulated profits available for distribution.


11.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 31 July 2025 by David Pumfrey FCA (Senior statutory auditor) on behalf of Sumer Auditco Limited.

 
Page 7