Kestral Homes Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03668315 (England and Wales)

KESTRAL HOMES LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

9

DIRECTORS:

A Slater

S Slater

SECRETARY:

A Slater

REGISTERED OFFICE:

C/O Cox Costello & Horne

Batchworth Lock House

99 Church Street

Rickmansworth

WD3 1JJ

REGISTERED NUMBER:

03668315 (England and Wales)

ACCOUNTANTS:

Cox Costello & Horne

Chartered Accountants and Tax Advisors

Batchworth Lock House

99 Church Street, Rickmansworth

WD3 1JJ

FIXED ASSETS

Tangible assets

4

29,227

4,181

Investment property

5

6,095,000

6,124,227

6,099,181

CURRENT ASSETS

Debtors

6

1,233,151

1,234,326

Cash at bank

10,625

5,991

1,243,776

1,240,317

CREDITORS

Amounts falling due within one year

7

74,119

111,651

NET CURRENT ASSETS

1,169,657

1,128,666

TOTAL ASSETS LESS CURRENT LIABILITIES

7,293,884

7,227,847

CREDITORS

Amounts falling due after more than one year

8

(2,906,399

)

(2,922,245

)

PROVISIONS FOR LIABILITIES

(571,095

)

(569,527

)

NET ASSETS

3,816,390

3,736,075

CAPITAL AND RESERVES

Called up share capital

2

Fair value reserve

10

2,851,051

Retained earnings

965,337

885,022

SHAREHOLDERS' FUNDS

3,816,390

3,736,075

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 Profit and Loss account has not been delivered.

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:

A Slater - Director

1.	STATUTORY INFORMATION

Kestral Homes 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.

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.

Going concern basis

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future; taken to be 12 months from signing the financial statements. No material uncertainties that cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Turnover

Turnover includes rental income from investment property.

Rental income from operating leases is recognised on a straight-line basis over the lease term. When the company provides incentives to its tenants, the cost of incentives is recognised over the lease term, on a straight-line basis, as a reduction of rental income.

Tangible fixed assets

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

Plant and machinery etc

-

25% on cost and 10% on cost

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Investment property

Investment property comprises residential property held for long-term rental yields or for capital appreciation or both, and not held for the social benefit or for use in the business. Investment property is measured at cost, including related transaction costs, on initial recognition and subsequently at fair value as at the year end, with changes in fair value recognised in profit and loss. Subsequent expenditure is capitalised to the asset's carrying value only when it is probable that future economic benefits associated with the expenditure will flow to the company. All other repairs and maintenance costs are expensed when incurred. Fair value is determined by either independent professional third party valuers or company officers, such as the directors. Depreciation is not provided in respect of the investment property. Fair value of investment property reflects, among other things, rental income from current leases and other assumptions market participants would make when pricing the property under current market conditions.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

a) Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

b) Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

c) Cash at bank

Cash and bank balances are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. Cash and bank balances are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Taxation

The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

-

the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

-

any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

33,638

Additions

32,175

Disposals

(18,050

)

At 31 December 2024

47,763

DEPRECIATION

At 1 January 2024

29,457

Charge for year

7,129

Eliminated on disposal

(18,050

)

At 31 December 2024

18,536

NET BOOK VALUE

At 31 December 2024

29,227

At 31 December 2023

4,181

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

6,095,000

NET BOOK VALUE

At 31 December 2024

6,095,000

At 31 December 2023

6,095,000

Fair value at 31 December 2024 is represented by:

£

Valuation in 2024

3,238,825

Cost

2,856,175

6,095,000

If investment property had not been revalued it would have been included at the following historical cost:

31.12.24

31.12.23

as restated

£

Cost

2,856,175

Aggregate depreciation

(808,732

)

(751,608

)

Investment property was valued on an informal open market basis on 31 December 2024 by the directors .

The assumptions used in valuing the property are supported by market evidence, and the directors are confident the value of the investment property are accurately reflected above.

6.

DEBTORS

31.12.24

31.12.23

as restated

£

Amounts falling due within one year:

Other debtors

51,248

Amounts falling due after more than one year:

Trade debtors

-

390,500

Other debtors

1,181,903

792,578

1,181,903

1,183,078

Aggregate amounts

1,233,151

1,234,326

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

as restated

£

Bank loans and overdrafts

10,000

-

Trade creditors

36

38

Taxation and social security

24,029

26,323

Other creditors

40,054

85,290

74,119

111,651

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

as restated

£

Bank loans

2,006,399

2,022,245

Other creditors

900,000

2,906,399

2,922,245

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans

2,002,232

1,998,078

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

as restated

£

Bank loans

2,016,399

2,022,245

Bank loans are secured by registered legal charges over certain of the company's investment property.

10.

RESERVES

Fair value

reserve

£

At 1 January 2024

and 31 December 2024

2,851,051

The fair value reserve comprises the movement on the revaluation of investment property and deferred tax recognised thereon.

11.	CONTINGENT LIABILITIES

Certain bank debt existing in the company is secured by a composite cross guarantee between the company and a related party. The companies are related through common key management personnel.

12.	RELATED PARTY DISCLOSURES

At the reporting date, the company owed the directors £913 (2023 - £47,445). The outstanding amount is unsecured, attracts no interest, has no fixed terms of repayment and is considered payable on demand.

At the reporting date, the company owed the shareholders £900,000 (2023 - £900,000). The outstanding amount is unsecured, attracts no interest, has no fixed terms of repayment and is considered payable on demand.

At the reporting date, the related party owed the company in the amount of £1,181,903 (2023 - £1,183,078 ). The companies are related through directors who are considered as common key management personnel. The outstanding amount is unsecured, attracts no interest, has no fixed terms of repayment and is considered payable on demand.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kestral Homes Limited for the year ended 31 December 2024 which comprise the Profit and Loss account, Balance Sheet, Statement of Changes in Equity and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Kestral Homes Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Kestral Homes Limited and state those matters that we have agreed to state to the Board of Directors of Kestral Homes Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kestral Homes Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Kestral Homes Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Kestral Homes Limited. You consider that Kestral Homes Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Kestral Homes Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Cox Costello & Horne

Chartered Accountants and Tax Advisors

Batchworth Lock House

99 Church Street, Rickmansworth

WD3 1JJ

6 August 2025