| Knightsbridge Holdings Overseas Homes Limited |
| Registered number: |
03971123 |
| Balance Sheet |
| as at 31 December 2024 |
|
|
|
|
|
|
|
As restated |
| Notes |
|
|
2024 |
|
|
2023 |
| £ |
£ |
| Fixed assets |
| Investments |
4 |
|
|
8,651,632 |
|
|
11,600,248 |
|
| Current assets |
| Debtors |
5 |
|
983,649 |
|
|
1,001,196 |
| Cash at bank and in hand |
|
|
1,965 |
|
|
6,548 |
|
|
|
985,614 |
|
|
1,007,744 |
|
| Creditors: amounts falling due within one year |
6 |
|
(25,475) |
|
|
(1,018,378) |
|
| Net current assets/(liabilities) |
|
|
|
960,139 |
|
|
(10,634) |
|
| Total assets less current liabilities |
|
|
|
9,611,771 |
|
|
11,589,614 |
|
| Creditors: amounts falling due after more than one year |
7 |
|
|
(9,900,110) |
|
|
(11,916,932) |
|
|
|
| Net liabilities |
|
|
|
(288,339) |
|
|
(327,318) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
1 |
|
|
1 |
| Legal reserve |
|
|
|
(2,743) |
|
|
(2,743) |
| Profit and loss account |
|
|
|
(285,597) |
|
|
(324,576) |
|
| Shareholder's funds |
|
|
|
(288,339) |
|
|
(327,318) |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Alexander Kotton |
| Director |
| Approved by the board on 12 September 2025 |
|
| Knightsbridge Holdings Overseas Homes Limited |
| Notes to the Accounts |
| for the year ended 31 December 2024 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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. |
|
|
Investments and loans |
|
Investments and loans are measured at fair value as determined by the directors. Changes in fair value are included in the profit and loss account. Where applicable interest is payable/receivable on loans at Euribor +1% and repayment is 10 years from the date of drawdown. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Foreign currency translation |
|
The functional currency of the company is Euros, whilst the presentation currency is GBP Sterling. Monetary assets and liabilities are translated to the presentation currency at the rate of exchange ruling at the balance sheet date. All differences are taken to the foreign exchange gains/losses reserve shown in the statement of other comprehensive income. The exchange rate as at 31 December 2024 was €1.12047to £1 (2022: €1.1528 to £1). Profit and loss transactions in foreign currencies are translated at the average rate of exchange for the year. All other transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. |
|
|
Prior year adjustment |
|
A prior year adjustment was made in relation to the revalution of investments in subsidiaries and loans made to subsidiaries. This has resulted in an adjustment of £4,680,663 to the profit and loss reserve. |
|
|
Going concern |
|
The directors are confident of the continuing support of the parent company, Knightsbridge Holdings Limited, and the accounts have therefore been prepared on a going concern basis. |
|
|
| 2 |
Employees |
2024 |
|
2023 |
| Number |
Number |
|
|
Average number of persons employed by the company |
- |
|
- |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
| £ |
|
Cost |
|
At 1 January 2024 |
796 |
|
At 31 December 2024 |
796 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2024 |
796 |
|
At 31 December 2024 |
796 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2024 |
- |
|
|
| 4 |
Investments |
| Investments in |
Loans to |
| subsidiary |
subsidiary |
| undertakings |
undertakings |
Total |
| £ |
£ |
£ |
|
Fair value |
|
At 1 January 2024 |
As restated |
2,765,498 |
|
8,834,750 |
|
11,600,248 |
|
Additions |
5,284,630 |
|
- |
|
5,284,630 |
|
Disposals |
- |
|
(5,236,551) |
|
(5,236,551) |
|
Revaluation/(impairment) |
(2,496,942) |
|
- |
|
(2,496,942) |
|
Foreign exchange gain/(loss) |
(119,141) |
|
(380,612) |
|
(499,753) |
|
|
At 31 December 2024 |
5,434,045 |
|
3,217,587 |
|
8,651,632 |
|
| 5 |
Debtors |
2024 |
|
2023 |
| £ |
£ |
|
|
Amounts owed by group undertakings |
|
- |
|
5,545 |
|
Other debtors |
983,649 |
|
995,651 |
|
|
|
|
|
|
983,649 |
|
1,001,196 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Corporation tax |
- |
|
8,838 |
|
Other creditors |
25,475 |
|
1,009,540 |
|
|
|
|
|
|
25,475 |
|
1,018,378 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Amounts owed to group undertakings |
|
9,900,110 |
|
11,916,932 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Other information |
|
|
Knightsbridge Holdings Overseas Homes Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
19 The Circle |
|
Queen Elizabeth Street |
|
London |
|
SE1 2JE |