ACCOUNTS - Final Accounts preparation

Registered number: 04347715

KIRTON LINDSEY LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2025

KIRTON LINDSEY LIMITED

CONTENTS

	Page
Balance Sheet	1
Notes to the Financial Statements	2 - 6

KIRTON LINDSEY LIMITED

REGISTERED NUMBER: 04347715

BALANCE SHEET

AS AT 31 MARCH 2025

		2025		2024
Note		£		£


Current assets
Stocks	4	1,100,000		1,100,000
Debtors: amounts falling due within one year	5	839,649		787,696
		1,939,649		1,887,696
Creditors: amounts falling due within one year	6	(2,620,576)		(2,637,982)
Net current liabilities			(680,927)		(750,286)
Net liabilities			(680,927)		(750,286)

Capital and reserves
Called up share capital	7	100	100
Profit and loss account		(681,027)	(750,386)
		(680,927)	(750,286)

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

R L Shah

Director

Date: 18 December 2025

The notes on pages 2 to 6 form part of these financial statements.

Page 1

KIRTON LINDSEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	GENERAL INFORMATION

Kirton Lindsey Limited is a private company, limited by shares, and incorporated in England and Wales. The address of its registered office is 24 Old Bond Street, London, W1S 4AP.

The financial statements are presented in pound sterling which is the functional currency of the company.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

GOING CONCERN

The company's financial statements have been prepared on a going concern basis which assumes that the company will continue to operate for the foreseeable future. This is on the basis that ongoing support will continue to be available from the company's material creditors, including it’s parent undertaking, in the form that the present loans and other advances provided to the company shall continue to be made available.

As of the date of the approval of these financial statements the directors have not received formal assurance from the material creditors regarding their intentions to provide this ongoing support since they are in discussions with their creditors in respect of calls being made in respect of loans made to them. As a result, there is a material uncertainty regarding the company’s ability to continue operating as a going concern though the directors consider at the present time, despite this uncertainty, the company remains a going concern.

Based upon this conclusion the financial statements have been prepared on the going concern basis and the financial statements do not include any adjustments should this basis not be appropriate.

2.3

REVENUE

Turnover comprises proceeds from property sales, rental income and other fees receivable and is stated net of value added tax where appropriate.

Rental income is recognised over the term of the lease.

Acquisitions and disposals of development property are accounted for when legally binding contracts which are irrevocable and effectively unconditional are exchanged and, in the case of disposals, where completion has taken place prior to the date on which the financial statements are approved.

2.4

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 2

KIRTON LINDSEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.5

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.6

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are 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.

2.7

FINANCIAL INSTRUMENTS

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Balance Sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic financial liabilities

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Page 3

KIRTON LINDSEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.7

FINANCIAL INSTRUMENTS (continued)

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

2.8

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.9

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.10

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

2.11

TAXATION

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

EMPLOYEES

The average monthly number of employees, including directors, during the year was 3 (2024 - 3).

Page 4

KIRTON LINDSEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

4.	STOCKS
		2025	2024
		£	£

	Development properties	1,100,000	1,100,000

DEBTORS

					2025	2024
					£	£


Trade debtors	6,270	9,488
Other debtors	828,375	774,313
Prepayments and accrued income	5,004	3,895
	839,649	787,696

6.	CREDITORS: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	19,177	13,094
Amounts owed to group undertakings	378,046	383,938
Corporation tax	19,527	36,343
Other creditors	2,187,839	2,187,839
Accruals and deferred income	15,987	16,768
	2,620,576	2,637,982

7.	SHARE CAPITAL
		2025	2024
		£	£

Allotted, called up and fully paid

100 Ordinary shares of £1 each	100	100

Page 5

KIRTON LINDSEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

8.	RELATED PARTY TRANSACTIONS
	At the balance sheet date the following amounts were owed by(to) related parties:

		2025	2024
		£	£

Immediate parent company	(378,046)	(383,938)
Companies subject to common influence	(2,189,510)	(2,189,510)
Companies which share common directors	824,046	766,984

During the year management fees have been charged by entities sharing common directors totalling £35,190 (2024: £28,800).

9.	ULTIMATE PARENT COMPANY

The immediate parent company is Adinstone Limited, a company registered in England and Wales. Its registered office is 3rd Floor, 24 Old Bond Street, London, W1S 4BH.

The ultimate parent company is Parkhill Limited, a company registered in the Isle of Man.

Page 6