K. W. Reader & Sons Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02709454

K. W. Reader & Sons Limited

Filleted Unaudited Financial Statements

30 April 2026

K. W. Reader & Sons Limited

Statement of Financial Position

30 April 2026

	2026		2025
Note	£	£	£

Fixed assets

Tangible assets	6	5,615,894	5,568,881
Investments	7	1	1
		------------	------------
		5,615,895	5,568,882

Current assets

Stocks		39,298	39,977
Debtors	8	108,109	102,202
Cash at bank and in hand		148,151	153,400
		---------	---------
		295,558	295,579

Creditors: amounts falling due within one year	9	823,745		958,237
		---------		---------
Net current liabilities			528,187	662,658
			------------	------------
Total assets less current liabilities			5,087,708	4,906,224

Creditors: amounts falling due after more than one year	10		1,655,899	1,616,837

Provisions

Taxation including deferred tax	392,953	412,517
	------------	------------
Net assets	3,038,856	2,876,870
	------------	------------

Capital and reserves

Called up share capital	100	100
Revaluation reserve	739,276	739,276
Profit and loss account	2,299,480	2,137,494
	------------	------------
Shareholders funds	3,038,856	2,876,870
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 April 2026 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

K. W. Reader & Sons Limited

Statement of Financial Position (continued)

30 April 2026

These financial statements were approved by the board of directors and authorised for issue on 15 July 2026 , and are signed on behalf of the board by:

K W Reader

Director

Company registration number: 02709454

K. W. Reader & Sons Limited

Notes to the Financial Statements

Year ended 30 April 2026

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Dunes Arcade, Sea Road, South Shields, Tyne and Wear, NE33 2LD.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	5% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	Not depreciated
Plant and machinery	-	5-20% Reducing balance
Motor vehicles	-	25% reducing balance

No depreciation is provided on freehold land and buildings and long leasehold property. The group follows a programme of regular maintenance of the properties to maintain them to such a high standard that in the opinion of the directors, the residual value would be sufficiently high to make any depreciation charge immaterial. All repairs and permanent diminution in value are charged to the profit and loss account. Freehold land and buildings and long leasehold property is revalued every three years (by the directors) with the surplus or deficit on book value being transferred to the revaluation reserve, except that a deficit which is in excess of any previously recognised surplus over depreciated cost, or the reversal of such a deficit, is charged (or credited) to the profit and loss account. A deficit which represents a clear consumption of economic benefits is charged to the profit and loss account regardless of any such previous surplus.

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.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Impairment of fixed assets

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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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

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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 50 (2025: 49 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 May 2025 and 30 April 2026	41,000
	--------
Amortisation
At 1 May 2025 and 30 April 2026	41,000
	--------
Carrying amount
At 30 April 2026	–
	--------
At 30 April 2025	–
	--------

6. Tangible assets

	Freehold property	Long leasehold property	Plant and machinery	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 May 2025	1,248,551	2,712,395	5,268,904	205,998	9,435,848
Additions	–	128,477	144,470	55,000	327,947
Disposals	–	–	–	( 55,000)	( 55,000)
	------------	------------	------------	---------	------------
At 30 April 2026	1,248,551	2,840,872	5,413,374	205,998	9,708,795
	------------	------------	------------	---------	------------
Depreciation
At 1 May 2025	95,582	–	3,678,776	92,609	3,866,967
Charge for the year	–	–	215,065	24,762	239,827
Disposals	–	–	–	( 13,893)	( 13,893)
	------------	------------	------------	---------	------------
At 30 April 2026	95,582	–	3,893,841	103,478	4,092,901
	------------	------------	------------	---------	------------
Carrying amount
At 30 April 2026	1,152,969	2,840,872	1,519,533	102,520	5,615,894
	------------	------------	------------	---------	------------
At 30 April 2025	1,152,969	2,712,395	1,590,128	113,389	5,568,881
	------------	------------	------------	---------	------------

Tangible assets held at valuation

The group and company's long leasehold property was valued at £2.7m as at 10 August 2012 by Lambert Smith Hampton on a market value basis. The directors' believe that this accurately reflects the current value of the long leasehold property as at the balance sheet date. The company's freehold land was valued at £1.0m in 2019 by Lambert Smith Hampton on a market value basis. In the directors' opinion, there has been no material change in the value of this asset since that date and this valuation accurately reflects the current value at 30th April 2021.

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Plant and machinery
	£
At 30 April 2026	259,109
	---------
At 30 April 2025	226,238
	---------

7. Investments

	Shares in group undertakings
	£
Cost
At 1 May 2025 and 30 April 2026	165,000
	---------
Impairment
At 1 May 2025 and 30 April 2026	164,999
	---------

Carrying amount
At 30 April 2026	1
	---------
At 30 April 2025	1
	---------

The investment is 165,000 ordinary shares in Corporate Funfairs Limited, being 100% of the issued share capital.

8. Debtors

	2026	2025
	£	£
Trade debtors	20,879	40,312
Other debtors	87,230	61,890
	---------	---------
	108,109	102,202
	---------	---------

9. Creditors: amounts falling due within one year

	2026	2025
	£	£
Bank loans and overdrafts	199,562	185,149
Trade creditors	166,074	152,214
Amounts owed to group undertakings and undertakings in which the company has a participating interest	1	339,655
Corporation tax	73,996	31,288
Social security and other taxes	90,010	74,589
Other loans	9,832	18,420
Other creditors	284,270	156,922
	---------	---------
	823,745	958,237
	---------	---------

10. Creditors: amounts falling due after more than one year

	2026	2025
	£	£
Bank loans and overdrafts	1,127,165	1,331,266
Other loans	91,743	101,622
Other creditors	436,991	183,949
	------------	------------
	1,655,899	1,616,837
	------------	------------

The bank overdraft and bank loans are secured by an all monies debenture over the whole assets of the company and a legal charge over the company's freehold and leasehold land and property.

The other loans are unsecured and attract interest at rates between 6% and 7%.

The directors' loan account is unsecured, interest free and has no fixed repayment terms.

On 19th May 2015 the group renegotiated and refinanced £1.616m of its bank loan facilities into a fixed rate loan at 4.85 % interest per annum. The remaining variable bank loan is repayable by monthly capital and interest instalments and attracts interest of 2.7% above Bank of England base rate. Both loans are over a term of 13 years and 7 months.

The finance lease and hire purchase agreements are secured on the assets to which they relate.

Operating leases greater than five years relate to rental liability for the Dunes site. Repayment terms are £29,500 per annum and no interest is payable.

11. Financial instruments

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 entity after deducting all of its financial liabilities.

12. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2026	2025
	£	£
Not later than 1 year	29,500	29,500
	--------	--------

13. Directors' advances, credits and guarantees

Included in creditors: amounts falling due after one year is a directors loan balance of £366,195 (2025: £33,569).

14. Related party transactions

The company is under the control of Mr K W Reader , director and majority shareholder of the company.