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Registration number: 09100060

Prepared for the registrar
K & R Management Services Limited
Annual Report and Unaudited Financial Statements
for the Year Ended 30 June 2024

K & R Management Services Limited

(Registration number: 09100060)
Balance Sheet as at 30 June 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Tangible assets | 4 | 5,338 | 7,118
Investment property | 5 | 3,155,140 | 3,538,168
Investments | 6 | - | 1,000
|  | 3,160,478 | 3,546,286
Current assets |  |  |
Debtors | 7 | 12,410 | 9,753
Cash at bank and in hand |  | 11,346 | 82,703
|  | 23,756 | 92,456
Creditors: Amounts falling due within one year | 8 | (1,618,571) | (1,990,323)
Net current liabilities |  | (1,594,815) | (1,897,867)
Total assets less current liabilities |  | 1,565,663 | 1,648,419
Deferred tax liabilities |  | (304,946) | (344,604)
Net assets |  | 1,260,717 | 1,303,815
Capital and reserves |  |  |
Called up share capital |  | 1,000 | 1,000
Revaluation reserve |  | 979,856 | 1,106,255
Retained earnings |  | 279,861 | 196,560
Shareholders' funds |  | 1,260,717 | 1,303,815

For the financial year ending 30 June 2024 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 accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 8 January 2026 and signed on its behalf by:

...................... K J Bell Director | ....................... R J Slater Director |

K & R Management Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

| 1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Windsor House
Bayshill Road
Cheltenham
GL50 3AT

| 2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for rental income in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

K & R Management Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Motor vehicles | 25% reducing balance
Office equipment | 25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate. Changes in fair value are recognised in profit or loss.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Debtors are amounts due from tenants in respect of the rental properties and services performed in the ordinary course of business.
Debtors are recognised initially at the transaction price. All debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Trade creditors

Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
The creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

K & R Management Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Impairment
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 profit or loss.

| 3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

| 4 | Tangible assets

| Furniture, fittings and equipment £ | Motor vehicles £ | Total £
Cost or valuation
At 1 July 2023 | 1,458 | 11,344 | 12,802
At 30 June 2024 | 1,458 | 11,344 | 12,802
Depreciation
At 1 July 2023 | 387 | 5,297 | 5,684
Charge for the year | 268 | 1,512 | 1,780
At 30 June 2024 | 655 | 6,809 | 7,464
Carrying amount
At 30 June 2024 | 803 | 4,535 | 5,338
At 30 June 2023 | 1,071 | 6,047 | 7,118

K & R Management Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

| 5 | Investment properties

| 2024 £
At 1 July 2023 | 3,538,168
Disposals | (383,028)
At 30 June 2024 | 3,155,140

On 30 June 2024, the investment properties were valued by the directors, on an open market basis.

There has been no valuation of investment property by an independent valuer.

The historical cost of the investment properties is £1,870,339 (2023: £2,521,250).

| 6 | Investments

| 2024 £ | 2023 £
Investments in subsidiaries | - | 1,000

Subsidiaries | £
Cost
At 1 July 2023 | 1,000
Disposals | (1,000)
At 30 June 2024 | -
Provision
Carrying amount
At 30 June 2024 | -
At 30 June 2023 | 1,000

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking | Registered office | Holding | Proportion of voting rights and shares held
|  |  | 2024 | 2023
Subsidiary undertakings
Bells Group Limited | Windsor House Bayshill Road Cheltenham GL50 3AT England and Wales | Ordinary | 100% | 100%

The net liabilities at 31 August 2024 were £8,836 (2023: £5,286).

K & R Management Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

| 7 | Debtors

| Note | 2024 £ | 2023 £
Trade debtors |  | 11,410 | 4,310
Amounts owed by related parties | 10 | - | 4,443
Other debtors |  | 1,000 | 1,000
|  | 12,410 | 9,753

| 8 | Creditors

| Note | 2024 £ | 2023 £
Due within one year |  |  |
Loans and borrowings | 9 | 1,409,420 | 1,866,177
Trade creditors |  | 1,368 | 1,913
Amounts due to related parties |  | 17,790 | -
Taxation and social security |  | 96,788 | 64,844
Accruals and deferred income |  | 93,205 | 57,389
|  | 1,618,571 | 1,990,323

| 9 | Loans and borrowings

| Note | 2024 £ | 2023 £
Current loans and borrowings
Other borrowings | 10 | 1,409,420 | 1,866,177

| 10 | Related party transactions

Summary of transactions with other related parties

At 30 June 2024, the company owed £1,409,420 (2023: £1,866,177) to the directors in the form of a director's loan account. Interest of £34,996 was charged on this balance and there are no fixed repayment terms.
At 30 June 2024, the company owed £17,790 to (2023: was owed £4,443 by) Bells Group Limited, its wholly owned subsidiary. No interest was charged on this balance and there are no fixed repayment terms.