Kexby Investments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09002827 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2021

for

Kexby Investments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A G Mannix

G Mannix

REGISTERED OFFICE:

The Old Vicarage

Kexby

York

YO41 5LA

REGISTERED NUMBER:

09002827 (England and Wales)

FIXED ASSETS

Investments

4

9,495,842

4,780,040

CURRENT ASSETS

Cash at bank and in hand

1,210,231

1,131,554

CREDITORS

Amounts falling due within one year

5

(425,216

)

(419,524

)

NET CURRENT ASSETS

785,015

712,030

TOTAL ASSETS LESS CURRENT LIABILITIES

10,280,857

5,492,070

CAPITAL AND RESERVES

Called up share capital

10

10

Share premium

14,373

14,373

Revaluation reserve

6,382,455

1,786,480

Retained earnings

3,884,019

3,691,207

SHAREHOLDERS' FUNDS

10,280,857

5,492,070

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2021.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 May 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the Company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the Company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 August 2022 and were signed on its behalf by:

A G Mannix - Director

1.	STATUTORY INFORMATION

Kexby Investments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

The turnover shown in the profit and loss account represents dividend and interest income received in relation to investments made in listed securities and bonds during the year, and the realised gains from such investments.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Fixed asset investments

All investments are traded on a recognised market. All investments are stated at market value as at the balance sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Clipper Logistics plc

Other Investments

Total

£

£

£

At 1 June 2019

2,717,687

1,932,191

4,649,878

Net investment / (disposal) during year

-

23,288

23,288

Market value adjustments - credited / (debited) to revaluation reserve

9,404

89,508

98,912

Realised gains / (losses) credited to P&L

-

7,962

7,962

At 31 May 2020

2,727,091

2,052,949

4,780,040

Net investment / (disposal) during year

-

(1,388

)

(1,388

)

Market value adjustments - credited / (debited) to revaluation reserve

4,485,593

110,382

4,595,975

Realised gains / (losses) credited to P&L

-

121,215

121,215

At 31 May 2021

7,212,684

2,283,158

9,495,842

Investment in Clipper Logistics plc

Clipper Logistics plc is incorporated in Great Britain and registered in England & Wales.

At 31 May 2020 and 31 May 2021 the Company held 940,376 ordinary shares of 0.05p each in Clipper, 0.9% of the issued share capital. Clipper is incorporated in Great Britain and is registered in England and Wales.

In the year ended 30 April 2021 Clipper had revenue of £696,201,000 (2020: £500,671,000) and profit before tax of £26,731,000 (2020: £20,107,000).

The balance sheet value of the Company's interest in Clipper Logistics plc is based on the mid-price at which shares were quoted on the London Stock Exchange. At 31 May 2021, the price was £7.67 (2020: £2.90).

Other investments

The Company invests in a portfolio of listed securities that represents medium risk. The portfolio is managed on a discretionary basis by an investment bank. The balance sheet value of the portfolio reflects market prices at the period end.

Movements in investments during the year due to market price movements are credited or debited to the revaluation reserve as unrealised gains / losses.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/5/21

31/5/20

£

£

Provision for tax charge

13,692

2,000

Accruals

3,000

9,000

Loan from Knaresborough Investments Ltd

408,524

408,524

425,216

419,524

6.	RELATED PARTY DISCLOSURES