Kernowek Kerth Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 10388025

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		17,238		56,362

			17,238		56,362
CURRENT ASSETS
Debtors	5	621,632		1,776,238
Cash at bank and in hand		961		11,210

		622,593		1,787,448
Creditors: Amounts Falling Due Within One Year	6	(985,658 )		(2,149,679 )

NET CURRENT ASSETS (LIABILITIES)			(363,065 )		(362,231 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(345,827 )		(305,869 )

Creditors: Amounts Falling Due After More Than One Year	7		(27,954 )		(53,405 )

NET LIABILITIES			(373,781 )		(359,274 )

CAPITAL AND RESERVES
Called up share capital	9		100		100
Profit and Loss Account			(373,881 )		(359,374 )

SHAREHOLDERS' FUNDS			(373,781)		(359,274)

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Kernowek Kerth Limited

Balance Sheet (continued)

As At 30 November 2025

For the year ending 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

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

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Ms Lisa Pagin

Director

27/08/2026

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Kernowek Kerth Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10388025 . The registered office is Bay View, Gyllyngvase Road, Falmouth, Cornwall, TR11 4DJ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have assessed the company's financial position and forecast cash flows at the date of approval of these financial statements. Although the company reports net liabilities and negative reserves, it is supported by loans from its directors and other related companies. The directors have confirmed, and are satisfied as to the ability of the relevant parties to provide, sufficient continuing financial support for a period of at least 12 months from the date of approval. On that basis the directors consider the company able to meet its foreseeable obligations and continue to adopt the going concern basis of accounting.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	4 years straight line
Motor Vehicles	20% reducing balance
Computer Equipment	3 years straight line

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 3)

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Kernowek Kerth Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 December 2024	73,639	43,940	3,254	120,833
Disposals	(9,490 )	(32,990 )	(1,132 )	(43,612 )

As at 30 November 2025	64,149	10,950	2,122	77,221

Depreciation
As at 1 December 2024	47,521	14,066	2,884	64,471
Provided during the period	14,406	2,190	185	16,781
Disposals	(8,261 )	(11,876 )	(1,132 )	(21,269 )

As at 30 November 2025	53,666	4,380	1,937	59,983

Net Book Value
As at 30 November 2025	10,483	6,570	185	17,238

As at 1 December 2024	26,118	29,874	370	56,362

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	24,460	19,460
Prepayments and accrued income	3,025	1,544,882
Other debtors	1,523	1,523
VAT	-	9,818
Amounts owed by related companies	592,624	200,555

	621,632	1,776,238

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	9,530	14,471
Trade creditors	3,971	140,905
Bank loans and overdrafts	6,035	4,725
Other taxes and social security	26,107	38,747
VAT	40,823	-
Other creditors	21,031	21,031
Accruals and deferred income	1,424	1,424
Directors' loan accounts	22,151	4,858
Amounts owed to related companies	854,586	1,923,518

	985,658	2,149,679

Of the bank loans figure, £5,242 (2024: £4,725) represents the company's bounce back loan that is secured by the government.

The hire purchase liabilities are secured against the assets held under the hire purchase contracts.

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Kernowek Kerth Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	9,608	30,784
Bank loans	18,346	22,621

	27,954	53,405

The bank loans figure represents the company's bounce back loan that is secured by the government.

The hire purchase liabilities are secured against the assets held under the hire purchase contracts.

8. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	9,530	14,471
Later than one year and not later than five years	9,608	30,784

	19,138	45,255

	19,138	45,255

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

10. Related Party Transactions

Balances receiveable from related companies at 30 November 2025 included within the debtors note above:

- Bloc Cornwall Holdings Ltd: £406,818 (2024: -£260,048)

- Poachers Corner Management Ltd: £2,030 (2024: £194)

- Red Willow Properties Ltd: £5,156 (2024: £5,156)

- Rosebay Court Ltd: £152,165 (2024: £146,165)

Balances payable to related companies at 30 November 2025 included within the creditors note above:

- Bloc Cornwall Group Ltd: £11,780 (2024: £12,280)

- Lux Blu Developments Ltd: £70,518 (2024: £86,860)

- Lux Blu London Ltd: £83,200 (2024: £0)

- N3L Limited: £689,087 (2024: £1,565,330)

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