REGISTERED NUMBER: 01904908 (England and Wales)

K.N. GRANT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

6

DIRECTORS:

Mrs P A Cardovillis

N J Cardovillis

REGISTERED OFFICE:

Karibu

Peacocks Road

Frithville

Boston

Lincolnshire

PE22 7AL

REGISTERED NUMBER:

01904908 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

5 Resolution Close

Endeavour Park

Boston

Lincolnshire

PE21 7TT

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

376,763

385,018

Investments

6

1

1

376,764

385,019

CURRENT ASSETS

Valuation

174,026

213,281

Debtors

7

178,890

150,222

Cash at bank

350,703

394,007

703,619

757,510

CREDITORS

Amounts falling due within one year

8

201,801

185,133

NET CURRENT ASSETS

501,818

572,377

TOTAL ASSETS LESS CURRENT LIABILITIES

878,582

957,396

CAPITAL AND RESERVES

Called up share capital

9

100

100

Other reserves

2

2

Retained earnings

878,480

957,294

SHAREHOLDERS' FUNDS

878,582

957,396

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 8 September 2025 and were signed on its behalf by:

Mrs P A Cardovillis - Director

1.	STATUTORY INFORMATION

K.N. Grant Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced and accrued sales of farm crops and basic farm payment excluding value added tax.

Sales of crops are recognised on despatch.

Basic payment scheme entitlements

Intangible assets consist of entitlement to the basic payment scheme. The entitlements are recognised at fair value and written off on a straight line basis over the period to 31 December 2019.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

10% on cost, 2% on cost and not provided

Plant and machinery etc

-

20% on reducing balance, 15% on reducing balance and 10% on reducing balance

Tangible assets are held at cost less depreciation.

Valuation

The valuation has been prepared at the lower of the cost and estimated selling price less costs to sell.

Biological assets and living plants are included at the lower of cost and estimated selling price less costs to sell.

Financial instruments

The company has chosen to adopt the FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

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. Accounts 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 year 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments

Fixed asset investments are stated at cost, unless in the opinion of the directors, there has been an impairment, in which case an appropriate adjustment has been made .

Farming subsidies

Farming subsidy income is recognised in the financial statements in accordance with current H M Revenue & Customs guidance.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

36,818

Disposals

(36,818

)

At 31 December 2024

-

AMORTISATION

At 1 January 2024

36,818

Eliminated on disposal

(36,818

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

489,741

116,565

606,306

DEPRECIATION

At 1 January 2024

132,161

89,127

221,288

Charge for year

3,020

5,235

8,255

At 31 December 2024

135,181

94,362

229,543

NET BOOK VALUE

At 31 December 2024

354,560

22,203

376,763

At 31 December 2023

357,580

27,438

385,018

Included in cost of land and buildings is freehold land of £ 302,402 (2023 - £ 302,402 ) which is not depreciated.

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2024

and 31 December 2024

1

NET BOOK VALUE

At 31 December 2024

1

At 31 December 2023

1

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

101,585

135,260

Other debtors

77,305

14,962

178,890

150,222

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Taxation and social security

5,075

9,496

Other creditors

196,726

175,637

201,801

185,133

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

10,000

Ordinary

£0.01

100

100

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

Mrs P A Cardovillis

Balance outstanding at start of year

2,599

4,036

Amounts advanced

942

2,599

Amounts repaid

(3,027

)

(4,036

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

514

2,599

The loans made to the directors are unsecured, interest free and repayable on demand.