Grace Kent Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 13154300

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Investment Properties	4		680,000		680,000

			680,000		680,000
CURRENT ASSETS
Debtors	5	2,550		2,250
Cash at bank and in hand		1,580		2,776

		4,130		5,026
Creditors: Amounts Falling Due Within One Year	6	(19,197 )		(15,521 )

NET CURRENT ASSETS (LIABILITIES)			(15,067 )		(10,495 )

TOTAL ASSETS LESS CURRENT LIABILITIES			664,933		669,505

Creditors: Amounts Falling Due After More Than One Year	7		(563,240 )		(562,740 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	8		(27,254 )		(27,254 )

NET ASSETS			74,439		79,511

CAPITAL AND RESERVES
Called up share capital	9		100		100
Revaluation reserve	10		81,761		81,761
Profit and Loss Account			(7,422 )		(2,350 )

SHAREHOLDERS' FUNDS			74,439		79,511

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Grace Kent Limited

Balance Sheet (continued)

As At 31 March 2025

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.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Joshua Thomson

Director

4th December 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Grace Kent Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13154300 . The registered office is 2 John Douglas Drive, Monkton, Ramsgate, KENT, CT12 4JY.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding VAT and other sales-related taxes.

Rental Income

Rental income arising from investment properties is recognised on a straight-line basis over the period to which it relates, in accordance with the terms of the lease. Rental income is included within turnover in the period it is earned.

2.4. Investment Properties

All investment properties are measured at fair value, as determined annually by the directors based on current market rents and yields for comparable properties, adjusted as necessary for differences in location, condition, or other relevant factors. No depreciation is charged on investment properties.

Changes in fair value are recognised in the profit and loss account in accordance with Section 16 of FRS 102. The cumulative revaluation surplus is transferred to a separate non-distributable reserve, which is ring-fenced and not available for distribution.

Deferred Taxation

Deferred taxation is recognised at each valuation date in accordance with Section 29 of FRS 102. The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the company expects to recover or settle the carrying amount of its assets and liabilities at the end of the reporting period.

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 2)

4. Investment Property

	2025
	£
Fair Value
As at 1 April 2024 and 31 March 2025	680,000

If investment property had been accounted for under historical cost accounting rules, the amounts would be:

	2025	2024
	£	£
Cost	570,984	570,984

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Grace Kent Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	2,550	2,250

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Accruals and deferred income	327	243
Director's loan account	18,870	15,278

	19,197	15,521

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	401,250	401,250
Other creditors	161,990	161,490

	563,240	562,740

8. Deferred Taxation

The provision for deferred taxation is made up from fair value valuation surplus measurements.

Deferred taxation is recognised at each valuation period based on measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

	2025	2024
	£	£
Other timing differences	27,254	27,254

9. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
100 Ordinary Shares of £ 1.000 each	100	100

10. Reserves

	Revaluation reserve	Profit and Loss Account
	£	£
As at 1 April 2024	81,761	(2,350 )
Loss for the year and total comprehensive income	-	(5,072 )

As at 31 March 2025	81,761	(7,422 )

The non-distributable reserves relate to the surplus arising on the revaluation of investment properties in accordance with Section 16 of FRS 102. These revaluation gains are not realised profits and, as such, are not available for distribution. The reserves are ring-fenced and held separately from distributable profits.

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Grace Kent Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

11. Related Party Transactions

During the year the company paid interest on a loan from Kent Coast Accounts Ltd, a company under common control by virtue of a common majority shareholder.

The loan is unsecured and no formal repayment terms have been agreed.

Interest is charged at 2.5% on £150,000 of the outstanding balance (with no interest charged on the remainder). The interest rate is not at a commercial market rate.

Interest paid in the year amounted to £3,750 (2024: £3,750).

At 31 March 2025, the amount owing to Kent Coast Accounts Ltd was £161,990 (31 March 2024: £161,490).

The company is controlled by the director. During the year the director provided funds to the company in the ordinary course of business.

At 31 March 2025, the amount due to the director was £18,870 (31 March 2024: £15,278). The balance is unsecured, interest-free, and no formal repayment terms have been agreed.

12. Ultimate Controlling Party

The company's ultimate controlling party is Joshua Douglas Thomson by virtue of his ownership of 100% of the issued share capital in the company.

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