Company Registration No. 09866967 (England and Wales)
K&T Holdings Limited
Unaudited accounts
for the year ended 31 December 2024
K&T Holdings Limited
Unaudited accounts
Contents
K&T Holdings Limited
Company Information
for the year ended 31 December 2024
Directors
Mr Terence Trewern
Mrs Kathleen Trewern
Company Number
09866967 (England and Wales)
Registered Office
Hunters Lodge
Virginstowe
Beaworthy
Devon
EX21 5EA
United Kingdom
Accountants
The Fresh Accountancy Company Limited
Orchard House
Clyst St Mary
Exeter
Devon
EX5 1BR
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of K&T Holdings Limited for the year ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
K&T Holdings Limited for the year ended
31 December 2024 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
Our work has been undertaken in accordance with AAF 7/16 as detailed at icaew.com/compilation.
The Fresh Accountancy Company Limited
Chartered Accountants
Orchard House
Clyst St Mary
Exeter
Devon
EX5 1BR
6 August 2025
K&T Holdings Limited
Statement of financial position
as at 31 December 2024
Tangible assets
1,520,825
1,156,867
Cash at bank and in hand
12,582
9,535
Creditors: amounts falling due within one year
(165,793)
(172,971)
Net current liabilities
(129,651)
(153,867)
Total assets less current liabilities
1,391,174
1,003,000
Creditors: amounts falling due after more than one year
(526,302)
(545,111)
Provisions for liabilities
Net assets
795,774
457,889
Called up share capital
4,999
5,001
Capital redemption reserve
1
-
Profit and loss account
790,774
452,888
Shareholders' funds
795,774
457,889
For the year ending 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 6 August 2025 and were signed on its behalf by
Mr Terence Trewern
Director
Company Registration No. 09866967
K&T Holdings Limited
Notes to the Accounts
for the year ended 31 December 2024
K&T Holdings Limited is a private company, limited by shares, registered in England and Wales, registration number 09866967. The registered office is Hunters Lodge, Virginstowe, Beaworthy, Devon, EX21 5EA, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 December 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 January 2023.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
K&T Holdings Limited
Notes to the Accounts
for the year ended 31 December 2024
4
Tangible fixed assets
Land & buildings
Computer equipment
Total
Cost or valuation
At valuation
At cost
At 1 January 2024
1,156,514
718
1,157,232
Revaluations
363,675
-
363,675
At 31 December 2024
1,520,189
1,093
1,521,282
At 1 January 2024
-
365
365
Charge for the year
-
92
92
At 31 December 2024
-
457
457
At 31 December 2024
1,520,189
636
1,520,825
At 31 December 2023
1,156,514
353
1,156,867
The freehold land and building class of fixed assets was revalued on 31st December 2024 by the director who is not a RICS certified surveyor. The values were obtained by comparing to similar properties currently on the market.
The basis of this valuation was to reflect the revised market value of the asset. This class of assets has a current value of £1,520,189 (2024 - £1,156,514 and a carrying amount at historical cost of £1,156,514,(2024- £1,516,514).
Amounts falling due within one year
Trade debtors
20,521
7,646
Amounts due from group undertakings etc.
1,602
-
Accrued income and prepayments
1,437
1,923
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
33,593
33,593
Taxes and social security
11,455
17,838
Other creditors
7,180
9,439
Loans from directors
86,213
102,507
Deferred income
22,175
5,656
K&T Holdings Limited
Notes to the Accounts
for the year ended 31 December 2024
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
416,302
435,111
Other creditors
110,000
110,000
8
Deferred taxation
2024
2023
Accelerated capital allowances
(294,486)
-
Revaluation of investment property
363,584
-
Charged to the profit and loss account
69,098
-
Provision at end of year
69,098
-
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).