K & A Estates Ltd - Period Ending 2022-06-30

K & A Estates Ltd
(Registration number: 04823709)

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 7

K & A Estates Ltd
(Registration number: 04823709)

Balance Sheet as at 30 June 2022

	Note	2022 £	2021 £
Fixed Assets
Tangible Assets	4	2,428,178	1,429,500
Other financial assets	5	538,320	1,044,326
		2,966,498	2,473,826
Current assets
Debtors	6	106,093	6,253
Cash at bank and in hand		95,217	968,401
		201,310	974,654
Creditors: Amounts falling due within one year	7	(27,479)	(1,180,279)
Net current assets/(liabilities)		173,831	(205,625)
Total assets less current liabilities		3,140,329	2,268,201
Provisions for liabilities		(58,452)	(67,245)
Net assets		3,081,877	2,200,956
Capital and Reserves
Called up share capital		100	100
Capital redemption reserve		873,533	873,533
Revaluation reserve		392,289	438,739
Retained Earnings		1,815,955	888,584
Shareholders' funds		3,081,877	2,200,956

For the financial year ending 30 June 2022 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.

K & A Estates Ltd
(Registration number: 04823709)

Balance Sheet as at 30 June 2022

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 Profit and Loss Account.

Approved and authorised by the Board on 17 November 2022 and signed on its behalf by:
 

......................................... Mrs Alice Miranda Goldsmith Director

K & A Estates Ltd
(Registration number: 04823709)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2022

1	General information

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

The address of its registered office is:
Baythorne Hall
Baythorne End
Halstead
Essex
CO9 4AH

These financial statements were authorised for issue by the Board on 17 November 2022.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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.

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 sales/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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

K & A Estates Ltd
(Registration number: 04823709)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2022

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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
Freehold land and buildings	Directors' valuation

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

K & A Estates Ltd
(Registration number: 04823709)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2022

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2021 - 0).

4	Tangible Assets

	Land and buildings £	Total £
Cost or valuation
At 1 July 2021	1,429,500	1,429,500
Additions	998,678	998,678
At 30 June 2022	2,428,178	2,428,178
Depreciation
Carrying amount
At 30 June 2022	2,428,178	2,428,178
At 30 June 2021	1,429,500	1,429,500

Included within the net book value of land and buildings above is £2,428,178 (2021 - £1,429,500) in respect of freehold land and buildings.
 

K & A Estates Ltd
(Registration number: 04823709)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2022

5	Other financial assets (current and non-current)

	Financial assets at fair value through profit and loss £	Total £
Non-current financial assets
Cost or valuation
At 1 July 2021	1,044,326	1,044,326
Fair value adjustments	(55,243)	(55,243)
Additions	149,602	149,602
Disposals	(600,365)	(600,365)
At 30 June 2022	538,320	538,320
Impairment
Carrying amount
At 30 June 2022	538,320	538,320

6

Debtors

The directors have reviewed trade debtors for impairment and consider the impairment losses to be provided for the year are £Nil (2021 - £Nil)

All amounts are due within one year.

Current	Note	2022 £	2021 £
Amounts owed by related parties		100,019	-
Prepayments		3,074	803
Other debtors		3,000	5,450

K & A Estates Ltd
(Registration number: 04823709)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2022

7

Creditors

Creditors: amounts falling due within one year

	Note	2022 £	2021 £
Due within one year
Amounts owed to group undertakings and undertakings in which the company has a participating interest		100	1,048,100
Accruals and deferred income		5,750	3,129
Other creditors		21,629	129,050
		27,479	1,180,279

8

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

	Revaluation reserve £	Total £
Surplus/deficit on revaluation of other assets	(46,450)	(46,450)

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

	Revaluation reserve £	Total £
Surplus/deficit on property, plant and equipment revaluation	222,243	222,243
Surplus/deficit on revaluation of other assets	37,487	37,487
	259,730	259,730

9

The ultimate controlling parties are the trustees of the Lady Teresa Rothschild 1985 Grandchildren's Settlement. The trustees own 100% of the issued share capital of K & A Estates Ltd.