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Company No: 13238199 (England and Wales)

# KINGSTON ESTATE (DEVON) LIMITED

### Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

KINGSTON ESTATE (DEVON) LIMITED

## Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

KINGSTON ESTATE (DEVON) LIMITED

## BALANCE SHEET

As at 31 March 2025
KINGSTON ESTATE (DEVON) LIMITED

## BALANCE SHEET (continued)

As at 31 March 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Intangible assets | 3 | 11 |  | 11
Tangible assets | 4 | 6,434,612 |  | 6,462,753
|  | 6,434,623 |  | 6,462,764
Current assets |  |  |  |
Stocks | 5 | 5,166 |  | 13,890
Debtors | 6 | 298,308 |  | 355,664
Cash at bank and in hand |  | 360,716 |  | 48,239
|  | 664,190 |  | 417,793
Creditors: amounts falling due within one year | 7 | ( 3,564,172) |  | ( 4,514,051)
Net current liabilities |  | (2,899,982) |  | (4,096,258)
Total assets less current liabilities |  | 3,534,641 |  | 2,366,506
Creditors: amounts falling due after more than one year | 8 | ( 1,057,889) |  | ( 376,125)
Provision for liabilities |  | ( 64,176) |  | ( 71,273)
Net assets |  | 2,412,576 |  | 1,919,108
Capital and reserves |  |  |  |
Called-up share capital | 9 | 1 |  | 1
Profit and loss account |  | 2,412,575 |  | 1,919,107
Total shareholder's funds |  | 2,412,576 |  | 1,919,108

For the financial 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 member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Kingston Estate (Devon) Limited (registered number: 13238199) were approved and authorised for issue by the Board of Directors on 11 November 2025. They were signed on its behalf by:

Mr J R Phillips Director |

KINGSTON ESTATE (DEVON) LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
KINGSTON ESTATE (DEVON) LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Kingston Estate (Devon) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sigma House, Oak View Close, Torquay, TQ2 7FF, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when the value of goods and services provided can be reliably measured.

##### Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

##### Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill | not amortised

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:
No depreciation is provided on land and buildings. See "critical estimates" below for further details -

Land and buildings | not depreciated
Fixtures and fittings | 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

##### Critical accounting judgements and key sources of estimation uncertainity

In applying the company’s accounting policies, which are described above, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The following are the critical judgements and estimates that the directors have made in the process of applying the company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.
No depreciation is provided on land and buildings, as the directors consider that the useful economic life of the company's properties is such that depreciation would be immaterial. The company has a policy and practice of regular maintenance and repair (charges for which are recognised in the profit and loss account such that these assets are kept to their previously assessed standard of performance, and the properties are unlikely to suffer from economic or technological obsolescence. The properties are reviewed for impairment each year.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 11 |  | 12

#### 3. Intangible assets

| Goodwill |  | Total
| £ |  | £
Cost |  |  |
At 01 April 2024 | 11 |  | 11
At 31 March 2025 | 11 |  | 11
Accumulated amortisation |  |  |
At 01 April 2024 | 0 |  | 0
At 31 March 2025 | 0 |  | 0
Net book value |  |  |
At 31 March 2025 | 11 |  | 11
At 31 March 2024 | 11 |  | 11

#### 4. Tangible assets

| Land and buildings |  | Fixtures and fittings |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 April 2024 | 6,279,276 |  | 339,731 |  | 6,619,007
Additions | 0 |  | 19,339 |  | 19,339
At 31 March 2025 | 6,279,276 |  | 359,070 |  | 6,638,346
Accumulated depreciation |  |  |  |  |
At 01 April 2024 | 34,583 |  | 121,671 |  | 156,254
Charge for the financial year | 0 |  | 47,480 |  | 47,480
At 31 March 2025 | 34,583 |  | 169,151 |  | 203,734
Net book value |  |  |  |  |
At 31 March 2025 | 6,244,693 |  | 189,919 |  | 6,434,612
At 31 March 2024 | 6,244,693 |  | 218,060 |  | 6,462,753

Included within the net book value of land and buildings above is £6,244,693 (2024 - £6,244,693 ) in respect of freehold land and buildings.

#### 5. Stocks

| 2025 |  | 2024
| £ |  | £
Stocks | 5,166 |  | 13,890

#### 6. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 162,629 |  | 287,809
Amounts owed by Parent undertakings | 1 |  | 1
Other debtors | 135,678 |  | 67,854
| 298,308 |  | 355,664

#### 7. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans (secured) | 87,084 |  | 27,875
Trade creditors | 50,279 |  | 84,637
Amounts owed to fellow subsidiaries | 2,176,338 |  | 3,252,717
Corporation tax | 3,167 |  | 26,264
Other taxation and social security | 19,476 |  | 41,462
Other creditors | 1,227,828 |  | 1,081,096
| 3,564,172 |  | 4,514,051

Creditors include bank loans of £87,084 (2024 - £27,875) which are secured against freehold property owned by the company.

#### 8. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans (secured) | 1,057,889 |  | 376,125

Creditors include bank loans of £1,057,889 (2024 - £376,125) which are secured against freehold property owned by the company.

#### 9. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
1 Ordinary share of £ 1.00 | 1 |  | 1

#### 10. Related party transactions

Other related party transactions

| 2025 |  | 2024
| £ |  | £
Interest payable to associated companies | 168,598 |  | 136,504

#### 11. Ultimate controlling party

Parent Company:

JSCLCO Limited
Sigma House, Oak View Close, Edginswell Park, Torquay, TQ2 7FF.