REGISTERED NUMBER: 14859813 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

KITESFIELD ESTATES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P J Ibbett

A P H A Ibbett

REGISTERED OFFICE:

Milton Parc

Milton Ernest

Bedford

Bedfordshire

MK44 1YU

REGISTERED NUMBER:

14859813 (England and Wales)

ACCOUNTANTS:

Rawlinson Pryde & Partners

Chartered Certified Accountants

Argent House

5 Goldington Road

Bedford

Bedfordshire

MK40 3JY

FIXED ASSETS

Tangible assets

4

201,031

8,250

Investments

5

849,799

835,302

Investment property

6

4,431,927

3,676,277

5,482,757

4,519,829

CURRENT ASSETS

Stocks

5,700

-

Debtors

7

76,443

42,309

Cash at bank

725,868

1,366,485

808,011

1,408,794

CREDITORS

Amounts falling due within one year

8

105,174

57,884

NET CURRENT ASSETS

702,837

1,350,910

TOTAL ASSETS LESS CURRENT LIABILITIES

6,185,594

5,870,739

CREDITORS

Amounts falling due after more than one year

9

(295,147

)

-

PROVISIONS FOR LIABILITIES

12

(17,612

)

(27,981

)

NET ASSETS

5,872,835

5,842,758

CAPITAL AND RESERVES

Called up share capital

3

3

Share premium

5,822,137

5,822,137

Retained earnings

50,695

20,618

5,872,835

5,842,758

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 December 2025 and were signed on its behalf by:

P J Ibbett - Director

1.	STATUTORY INFORMATION

Kitesfield Estates 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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

The financial statements have been prepared on a going concern basis. The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

Turnover

Turnover represents income from investments and investment properties. rental income is recognised on a straight line basis over the term of the lease. Dividend is recognised when the dividend is declared.

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, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on straight-line or reducing balance basis over its expected useful life, as follows:

- Assets under construction not depreciated

- Plant and machinery 5 years straight-line

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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit and loss.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes 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 recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Assets

under

Plant and

construction

machinery

Totals

£

£

£

COST

At 1 April 2024

3,300

5,400

8,700

Additions

190,886

3,000

193,886

At 31 March 2025

194,186

8,400

202,586

DEPRECIATION

At 1 April 2024

-

450

450

Charge for year

-

1,105

1,105

At 31 March 2025

-

1,555

1,555

NET BOOK VALUE

At 31 March 2025

194,186

6,845

201,031

At 31 March 2024

3,300

4,950

8,250

5.	FIXED ASSET INVESTMENTS

Listed

investment

£

COST OR VALUATION

At 1 April 2024

835,302

Additions

283,975

Disposals

(205,311

)

Revaluations

(64,167

)

At 31 March 2025

849,799

NET BOOK VALUE

At 31 March 2025

849,799

At 31 March 2024

835,302

Cost or valuation at 31 March 2025 is represented by:

Listed

investment

£

Valuation in 2024

85,108

Valuation in 2025

(64,167

)

Cost

828,858

849,799

Market value of listed investments at 31 March 2025 - £ 849,799 .

The investments are stated at the fair value of the portfolios at the balance sheet date, as stated by the respective fund managers.

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

3,676,277

Additions

755,650

At 31 March 2025

4,431,927

NET BOOK VALUE

At 31 March 2025

4,431,927

At 31 March 2024

3,676,277

The fair value of the investment properties was assessed by the directors at the balance sheet date. The directors are of the opinion that fair value is not materially different from cost at this date and the investment properties are therefore stated at cost.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

48,184

2,205

Other debtors

4,446

2,093

VAT

5,848

2,804

Accrued income

4,257

35,207

Prepayments

13,708

-

76,443

42,309

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

43,597

5,659

Tax

25,846

-

Social security and other taxes

627

(252

)

Other creditors

4,447

3,031

Net wages

2,957

-

Directors' current accounts

1,301

1,301

Accruals and deferred income

26,399

48,145

105,174

57,884

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans (see note 10)

295,147

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

295,147

-

10.

LOANS

An analysis of the maturity of loans is given below:

31.3.25

31.3.24

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

295,147

-

11.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

295,147

-

The bank borrowings are secured by fixed charge and a negative pledge over the company's investment property located in Great Bridgewater Street. Manchester, in favour of The Mortgage Lender Limited.

12.	PROVISIONS FOR LIABILITIES

31.3.25

31.3.24

£

£

Deferred tax

17,612

27,981

Deferred

tax

£

Balance at 1 April 2024

27,981

Credit to Income Statement during year

(10,369

)

Balance at 31 March 2025

17,612

13.	CAPITAL COMMITMENTS

Included in tangible fixed assets are Assets under construction at cost to the balance sheet date of £194,186. As at 31 March 2025 the company is contracted to, but has not provided for, further spending to complete this project of £325,814.

14.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Kitesfield Holdings Limited.

Milton Parc, Milton Ernest, Bedfordshire, United Kingdom, MK44 1YU.