Killy Ltd 31/03/2025 iXBRL

Company registration number: 10582195

Killy Ltd

Unaudited filleted financial statements

31 March 2025

Killy Ltd

Contents

Statement of financial position

Statement of changes in equity

Notes to the financial statements

Killy Ltd

Statement of financial position

31 March 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Investments	4	404,465		401,668
		_______		_______
			404,465		401,668

Current assets
Debtors	5	8,330		188,562
Cash at bank and in hand		185,826		11,668
		_______		_______
		194,156		200,230
Creditors: amounts falling due
within one year	6	( 503,360)		( 505,813)
		_______		_______
Net current liabilities			( 309,204)		( 305,583)
			_______		_______
Total assets less current liabilities			95,261		96,085


Provisions for liabilities			( 7,264)		( 9,541)

			_______		_______
Net assets			87,997		86,544
			_______		_______

Capital and reserves
Called up share capital			100		100
Fair value reserve			30,966		30,914
Profit and loss account			56,931		55,530
			_______		_______
Shareholders funds			87,997		86,544
			_______		_______

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 27 August 2025 , and are signed on behalf of the board by:

Mr S R Russell

Director

Company registration number: 10582195

Killy Ltd

Statement of changes in equity

Year ended 31 March 2025

	Called up share capital	Fair value reserve	Profit and loss account	Total
	£	£	£	£


At 1 April 2023	100	15,844	42,653	58,597

Profit for the year			27,947	27,947
Other comprehensive income for the year:
Reclassification from fair value reserve to profit and loss account		15,070	(15,070)	-
	_______	_______	_______	_______
Total comprehensive income for the year	-	15,070	12,877	27,947

	_______	_______	_______	_______
At 31 March 2024 and 1 April 2024	100	30,914	55,530	86,544

Profit for the year			1,453	1,453
Other comprehensive income for the year:
Reclassification from fair value reserve to profit and loss account		52	( 52)	-
	_______	_______	_______	_______
Total comprehensive income for the year	-	52	1,401	1,453

	_______	_______	_______	_______
At 31 March 2025	100	30,966	56,931	87,997
	_______	_______	_______	_______

Killy Ltd

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England. The address of the registered office is Office FF10 Brooklands House, 58 Marlborough Road, Lancing, West Sussex, BN15 8AF.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

4. Investments

	Other investments other than loans	Total
	£	£
Cost or valuation
At 1 April 2024	401,668	401,668
Additions	29,607	29,607
Disposals	( 27,753)	( 27,753)
Revaluations	943	943
	_______	_______
At 31 March 2025	404,465	404,465
	_______	_______
Impairment
At 1 April 2024 and 31 March 2025	-	-
	_______	_______
Carrying amount
At 31 March 2025	404,465	404,465
	_______	_______
At 31 March 2024	401,668	401,668
	_______	_______

Investments held at valuation

In respect of investments held at valuation, the comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Other investments other than loans	Total
	£	£
At 31 March 2025
Aggregate cost	366,235	366,235
Aggregate depreciation	-	-
	_______	_______
Carrying amount	366,235	366,235
	_______	_______

At 31 March 2024
Aggregate cost	363,503	363,503
Aggregate depreciation	-	-
	_______	_______
Carrying amount	363,503	363,503
	_______	_______

5. Debtors

	2025	2024
	£	£
Other debtors	8,330	188,562
	_______	_______

6. Creditors: amounts falling due within one year

	2025	2024
	£	£
Other loans (note 9)	500,000	500,000
Corporation tax	-	2,453
Other creditors	3,360	3,360
	_______	_______
	503,360	505,813
	_______	_______

7. Directors advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

2025
	Balance brought forward	Advances /(credits) to the directors	Balance o/standing
	£	£	£
Mr S R Russell	188,330	( 180,000)	8,330
	_______	_______	_______

2024
	Balance brought forward	Advances /(credits) to the directors	Balance o/standing
	£	£	£
Mr S R Russell	( 1,670)	190,000	188,330
	_______	_______	_______

8. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	2025	2024	2025	2024
	£	£	£	£
Nicholas Russell	-	-	-	200,000
Georgina Russell	-	( 100,000)	-	100,000
Christopher Russell	-	-	-	200,000
	_______	_______	_______	_______

During the year ended 31 March 2022, the directors assigned £600,000 of their directors' loan to their three children as above.

9. Controlling party

The company is under the control of Mr S R Russell .