Company registration number 12419503 (England and Wales)
KALK BAY LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
KALK BAY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
KALK BAY LIMITED
BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 1 -
2025
2024
as restated
Notes
£
£
£
£
Fixed assets
Investments
3
907,768
631,343
Current assets
Debtors
4
1,653,286
1,453,610
Investments
5
1,114,251
-
0
Cash at bank and in hand
558,617
1,339,115
3,326,154
2,792,725
Creditors: amounts falling due within one year
6
(905,738)
(414,563)
Net current assets
2,420,416
2,378,162
Total assets less current liabilities
3,328,184
3,009,505
Provisions for liabilities
(52,735)
(17,206)
Net assets
3,275,449
2,992,299
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
3,275,448
2,992,298
Total equity
3,275,449
2,992,299

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 15 March 2026
Mr E Slater
Director
Company registration number 12419503 (England and Wales)
KALK BAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information

Kalk Bay Limited is a private company limited by shares incorporated in England and Wales. The registered office is 13 -14 Welbeck Street, London, W1G 9XU.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

These financial statements for the year ended 31 March 2025 are the first financial statements of Kalk Bay Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 April 2023. An explanation of how transition to FRS 102 has affected the reported financial position and financial performance is given in note 10.

1.2
Revenue

Revenue comprises of profit share arrangements and is recognised when the agreement obligations have been satisfied.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

Listed investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in profit or loss. Transaction costs are expensed to profit or loss as incurred.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ”Basic Financial Instruments” 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.

Basic financial assets

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

KALK BAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Basic financial liabilities

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

1.6
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account.

1.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
1
1
KALK BAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
3
Fixed asset investments
2025
2024
£
£
Other investments other than loans
907,768
631,343

Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 April 2024
631,343
Additions
526,717
Valuation changes
48,994
Foreign exchange loss
(9,217)
Disposals
(290,069)
At 31 March 2025
907,768
Carrying amount
At 31 March 2025
907,768
At 31 March 2024
631,343
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
1,653,286
1,453,610
5
Current asset investments
2025
2024
£
£
Other investments
1,114,251
-
0
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
-
0
1,920
Taxation and social security
71,926
411,922
Other creditors
833,812
721
905,738
414,563
KALK BAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1
8
Non-distributable profits reserve
2025
2024
£
£
At the beginning of the year
51,617
-
Non distributable profits in the year
129,443
51,617
At the end of the year
181,060
51,617
9
Related party transactions

At the balance sheet date, the company was owed £1,511,570 (2024: £538,614) by entities controlled by a relation of the director and £417,872 (2024: £361,620) by entities with common key management personnel.

10
Reconciliations on adoption of FRS 102
Reconciliation of equity
1 April
31 March
2023
2024
Notes
£
£
Equity as reported under previous UK GAAP
1,144,198
2,937,972
Adjustments arising from transition to FRS 102:
Change in value of investments
-
68,823
Change in value of current assets
-
2,710
Deferred tax thereon
-
(17,206)
Equity reported under FRS 102
1,144,198
2,992,299
Profit as reported under previous UK GAAP
1,815,375
Adjustments arising from transition to FRS 102:
Change in value of investments
68,823
Change in value of current assets
2,710
Deferred tax thereon
(17,206)
Profit reported under FRS 102
1,869,702
KALK BAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
10
Reconciliations on adoption of FRS 102
(Continued)
- 6 -
Notes to reconciliations on adoption of FRS 102
Change in value of investments

Under FRS 102, Investments are measured at fair value based on obtainable market prices at the reporting date. Changes in fair value are recognised in the income statement and reflected in the fair value reserve where applicable. Deferred tax is provided on cumulative gains and losses arising from these fair value adjustments using the applicable tax rate.

2025-03-31 2024-04-01 false false false 16 March 2026 CCH Software CCH Accounts Production 2025.300 No description of principal activity Mr E Slater Mr E Slater 12419503 2024-04-01 2025-03-31 12419503 2025-03-31 12419503 2024-03-31 12419503 core:CurrentFinancialInstruments 2025-03-31 12419503 core:CurrentFinancialInstruments 2024-03-31 12419503 core:ShareCapital 2025-03-31 12419503 core:ShareCapital 2024-03-31 12419503 core:RetainedEarningsAccumulatedLosses 2025-03-31 12419503 core:RetainedEarningsAccumulatedLosses 2024-03-31 12419503 core:ShareCapitalOrdinaryShareClass1 2025-03-31 12419503 core:ShareCapitalOrdinaryShareClass1 2024-03-31 12419503 bus:CompanySecretaryDirector1 2024-04-01 2025-03-31 12419503 2023-04-01 2024-03-31 12419503 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 12419503 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 12419503 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 12419503 bus:OrdinaryShareClass1 2025-03-31 12419503 bus:OrdinaryShareClass1 2024-03-31 12419503 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 12419503 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 12419503 bus:FRS102 2024-04-01 2025-03-31 12419503 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 12419503 bus:Director1 2024-04-01 2025-03-31 12419503 bus:CompanySecretary1 2024-04-01 2025-03-31 12419503 bus:FullAccounts 2024-04-01 2025-03-31 xbrli:pure xbrli:shares iso4217:GBP