Knightshayes Estate Products Limited

Unaudited Financial Statements

for the Year Ended 31 December 2024

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

379,510

411,486

Investments

5

-

1,426

379,510

412,912

CURRENT ASSETS

Stocks

4,600

Debtors

6

36,546

52,904

Cash at bank and in hand

69,649

85,532

110,795

143,036

CREDITORS

Amounts falling due within one year

7

268,367

298,166

NET CURRENT LIABILITIES

(157,572

)

(155,130

)

TOTAL ASSETS LESS CURRENT LIABILITIES

221,938

257,782

CAPITAL AND RESERVES

Called up share capital

9

30,000

Retained earnings

191,938

227,782

221,938

257,782

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 September 2025 and were signed on its behalf by:

W F Heathcoat Amory - Director

1.	STATUTORY INFORMATION

Knightshayes Estate Products Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

00378758

Registered office:

The Island

Lowman Green

Tiverton

Devon

EX16 4LA

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 as modified by the revaluation of certain assets.

Turnover

Turnover represents sales of food and drink through the company's restaurant activity.

Tangible fixed assets

Improvement works on leasehold property, including integral plant, is held at the cost of the works and once in use is amortised over its useful life before refurbishment, estimated at 10 years, which exceeds the certain lease period but does not exceed the period for which the company expects to have the benefit of the lease.

Plant and equipment is carried at cost and is depreciated in equal instalments over its estimated useful life, typically 4 or 10 years.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Investments in equity instruments and bonds are measured initially at the transaction price. Subsequent to initial recognition investments that can be measured reliably are measured at fair value. The fair values of listed investments are the quoted bid prices. The fair values of unlisted investments are the market prices where sufficient evidence is available to substantiate them, otherwise they are valued at the cost of the investment less any impairment. Changes in value are recognised in profit and loss.

Investment income is accounted for when received. Profit before taxation includes the surplus of proceeds on disposal over the value at which an investment was carried in the balance sheet.

Cash and cash instruments consist of bank and broker balances and call deposits.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 26 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Leasehold

Plant and

and

improvements

machinery

fittings

Totals

£

COST

At 1 January 2024

470,341

23,207

32,506

526,054

Additions

-

2,557

1,809

4,366

At 31 December 2024

470,341

25,764

34,315

530,420

DEPRECIATION

At 1 January 2024

86,388

11,234

16,946

114,568

Charge for year

25,663

4,758

5,921

36,342

At 31 December 2024

112,051

15,992

22,867

150,910

NET BOOK VALUE

At 31 December 2024

358,290

9,772

11,448

379,510

At 31 December 2023

383,953

11,973

15,560

411,486

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 January 2024

1,426

Disposals

(1,426

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

1,426

The figures for Fixed Asset Investments are stated excluding the cash balances at the broker, which are included in Cash at Bank.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

4,568

21,106

Amounts owed by group undertakings

31,798

Other debtors

180

-

36,546

52,904

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade creditors

49,319

40,412

Taxation and social security

36,557

42,563

Other creditors

182,491

215,191

268,367

298,166

8.	PROVISIONS FOR LIABILITIES

Deferred

tax

£

Capital allowances

9,232

(Monetary investments)

(Losses)

(30,193

)

Balance at 31 December 2024

(20,961

)

Credit for losses in excess of contingent liabilities is not taken due to the uncertainty of their recovery.

9.	CALLED UP SHARE CAPITAL

Authorised share capital

2024 2023

No. £ No. £

Ordinary £1 shares 50,000 50,000 50,000 50,000

Issued, called up and fully paid

2024 2023

No. £ No. £

Ordinary £1 shares 30,000 30,000 30,000 30,000

10.	RELATED PARTY DISCLOSURES

The company is a wholly owned subsidiary of KEP Ltd, which is incorporated in the United Kingdom and registered in England. The company has undertaken to meet the administrative expenses of KEP Ltd, of which there were none in the year or in the previous year.