Kavatina Limited

Contents

Statement of Comprehensive Income	1
Statement of Financial Position	2 to 3
Notes to the Unaudited Financial Statements	4 to 9

Kavatina Limited

Statement of Comprehensive Income for the Year Ended 30 September 2025

	Note	2025 £	2024 £
Turnover		164,950	165,423
Gross profit		164,950	165,423
Administrative expenses		(49,110)	(30,794)
Other operating income		(3,733)	-
Operating profit		112,107	134,629
Gain on financial assets at fair value through profit and loss		97,843	102,653
Other interest receivable and similar income		6,809	5,910
		104,652	108,563
Profit before tax		216,759	243,192
Tax on profit		(17,620)	(27,515)
Profit for the financial year		199,139	215,677

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

Kavatina Limited

(Registration number: 01009049)
Statement of Financial Position as at 30 September 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	1,102	723
Investment property	5	1,448,688	1,651,145
Investments	6	1,790,128	1,465,260
		3,239,918	3,117,128
Current assets
Debtors	7	7,880	4,938
Cash at bank and in hand		185,112	248,498
		192,992	253,436
Creditors: Amounts falling due within one year	8	(15,381)	(14,464)
Net current assets		177,611	238,972
Total assets less current liabilities		3,417,529	3,356,100
Provisions for liabilities		(38,646)	(26,756)
Net assets		3,378,883	3,329,344
Capital and reserves
Called up share capital		17,000	17,000
Profit and loss account		3,361,883	3,312,344
Shareholders' funds		3,378,883	3,329,344

For the financial year ending 30 September 2025 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 and 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 Statement of Comprehensive Income.

Approved and authorised by the Board on 10 May 2026 and signed on its behalf by:
 

Kavatina Limited

(Registration number: 01009049)
Statement of Financial Position as at 30 September 2025 (continued)

Mr D P H Peschier Director

Dr D E Peschier Director

Kavatina Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

1	General information

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

The address of its registered office is:
Red Roofs
16 Melville Avenue
South Croydon
SURREY
CR2 7HY

Principal activity

The principal activity of the company is that of an investment company.

The principal place of business is:
Red Roofs
16 Melville Avenue
South Croydon
SURREY
CR2 7HY

2	Accounting policies

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 that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of 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 each of the company's activities.

Tax

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

Kavatina Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025 (continued)

2	Accounting policies (continued)

The current income 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 in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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
Office equipment	- 25% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Kavatina Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025 (continued)

2	Accounting policies (continued)

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

Kavatina Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025 (continued)

4	Tangible assets

	Office equipment £	Total £
Cost or valuation
At 1 October 2024	4,596	4,596
Additions	746	746
At 30 September 2025	5,342	5,342
Depreciation
At 1 October 2024	3,873	3,873
Charge for the year	367	367
At 30 September 2025	4,240	4,240
Carrying amount
At 30 September 2025	1,102	1,102
At 30 September 2024	723	723

5	Investment properties

	2025 £
At 1 October	1,651,145
Disposals	(230,000)
Fair value adjustments	27,543
At 30 September	1,448,688

Investment properties held at valuation

	Valuation	Historical cost
Flat 13, Beddington Manor	230,000	88,975
Flat 11, St Anne's Court	230,000	62,603
Flat 9, 32-34 Albion Road	230,000	84,602
Flat 5, Bonnington House	230,000	66,566
Farranairagh, Caherdaniel	517,543	232,000
Flat 13 Beddington Manor	11,145	11,145
	1,448,688	545,891

Kavatina Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025 (continued)

5	Investment properties (continued)

The properties in England were revalued at their market value, with vacant possession, by the directors at 31 December 2025.

The property in Ireland was revalued at its market value of 590,000 euro, with vacant possession, by Tom Spillane & Company Limited, as at 03 December 2024.

6	Investments

	Quoted investments £	Total £
Non-current financial assets
Cost
At 1 October 2024	1,465,260	1,465,260
Revaluations	70,300	70,300
Additions	532,882	532,882
Disposals	(278,314)	(278,314)
At 30 September 2025	1,790,128	1,790,128
Impairment
At 30 September 2025	-	-
Carrying amount
At 30 September 2025	1,790,128	1,790,128

Quoted investments are included at market value at the balance sheet date. The historical cost of these assets is £1,921,616 (2024 £1,667,048).

7

Debtors

	2025 £	2024 £
Prepayments	3,421	4,938
Accrued income	4,459	-
	7,880	4,938

Kavatina Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025 (continued)

8

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	3,103	90
Taxation and social security	5,730	8,010
Accruals and deferred income	6,548	6,364
	15,381	14,464

9

Reserves

Profit and loss account - This reserve records retained earnings and accumulated losses. £544,786 (2024 £446,943) of the reserve is non-distributable.