ACCOUNTS - Final Accounts

Analysis of the maturity of loans is given below:

KESTERPORT LIMITED - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2022-05-312022-05-31truefalse2021-06-01No description of principal activity2526false 01338973 2021-06-01 2022-05-31 01338973 2020-06-01 2021-05-31 01338973 2022-05-31 01338973 2021-05-31 01338973 c:CompanySecretary1 2021-06-01 2022-05-31 01338973 c:Director1 2021-06-01 2022-05-31 01338973 c:Director2 2021-06-01 2022-05-31 01338973 c:Director3 2021-06-01 2022-05-31 01338973 c:Director4 2021-06-01 2022-05-31 01338973 c:RegisteredOffice 2021-06-01 2022-05-31 01338973 d:Buildings 2021-06-01 2022-05-31 01338973 d:Buildings 2022-05-31 01338973 d:Buildings 2021-05-31 01338973 d:Buildings d:OwnedOrFreeholdAssets 2021-06-01 2022-05-31 01338973 d:Buildings d:LeasedAssetsHeldAsLessee 2021-06-01 2022-05-31 01338973 d:PlantMachinery 2021-06-01 2022-05-31 01338973 d:PlantMachinery 2022-05-31 01338973 d:PlantMachinery 2021-05-31 01338973 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-06-01 2022-05-31 01338973 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2021-06-01 2022-05-31 01338973 d:MotorVehicles 2021-06-01 2022-05-31 01338973 d:MotorVehicles 2022-05-31 01338973 d:MotorVehicles 2021-05-31 01338973 d:MotorVehicles d:OwnedOrFreeholdAssets 2021-06-01 2022-05-31 01338973 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2021-06-01 2022-05-31 01338973 d:OfficeEquipment 2021-06-01 2022-05-31 01338973 d:OfficeEquipment 2022-05-31 01338973 d:OfficeEquipment 2021-05-31 01338973 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-06-01 2022-05-31 01338973 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2021-06-01 2022-05-31 01338973 d:OwnedOrFreeholdAssets 2021-06-01 2022-05-31 01338973 d:LeasedAssetsHeldAsLessee 2021-06-01 2022-05-31 01338973 d:PatentsTrademarksLicencesConcessionsSimilar 2022-05-31 01338973 d:PatentsTrademarksLicencesConcessionsSimilar 2021-05-31 01338973 d:CurrentFinancialInstruments 2022-05-31 01338973 d:CurrentFinancialInstruments 2021-05-31 01338973 d:Non-currentFinancialInstruments 2022-05-31 01338973 d:Non-currentFinancialInstruments 2021-05-31 01338973 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 01338973 d:CurrentFinancialInstruments d:WithinOneYear 2021-05-31 01338973 d:Non-currentFinancialInstruments d:AfterOneYear 2022-05-31 01338973 d:Non-currentFinancialInstruments d:AfterOneYear 2021-05-31 01338973 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-05-31 01338973 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-05-31 01338973 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-05-31 01338973 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-05-31 01338973 d:ShareCapital 2022-05-31 01338973 d:ShareCapital 2021-05-31 01338973 d:SharePremium 2022-05-31 01338973 d:SharePremium 2021-05-31 01338973 d:CapitalRedemptionReserve 2022-05-31 01338973 d:CapitalRedemptionReserve 2021-05-31 01338973 d:RetainedEarningsAccumulatedLosses 2022-05-31 01338973 d:RetainedEarningsAccumulatedLosses 2021-05-31 01338973 d:FurtherSpecificTypeProvisionContingentLiability2ComponentTotalProvisionsContingentLiabilities 2021-06-01 2022-05-31 01338973 d:FurtherSpecificTypeProvisionContingentLiability2ComponentTotalProvisionsContingentLiabilities 2022-05-31 01338973 d:FurtherSpecificTypeProvisionContingentLiability2ComponentTotalProvisionsContingentLiabilities 2021-05-31 01338973 c:OrdinaryShareClass1 2021-06-01 2022-05-31 01338973 c:OrdinaryShareClass1 2022-05-31 01338973 c:OrdinaryShareClass1 2021-05-31 01338973 c:OrdinaryShareClass2 2021-06-01 2022-05-31 01338973 c:OrdinaryShareClass2 2022-05-31 01338973 c:OrdinaryShareClass2 2021-05-31 01338973 c:FRS102 2021-06-01 2022-05-31 01338973 c:Audited 2021-06-01 2022-05-31 01338973 c:FullAccounts 2021-06-01 2022-05-31 01338973 c:PrivateLimitedCompanyLtd 2021-06-01 2022-05-31 01338973 d:HirePurchaseContracts d:WithinOneYear 2022-05-31 01338973 d:HirePurchaseContracts d:WithinOneYear 2021-05-31 01338973 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-05-31 01338973 d:HirePurchaseContracts d:BetweenOneFiveYears 2021-05-31 01338973 c:SmallCompaniesRegimeForAccounts 2021-06-01 2022-05-31 01338973 d:AcceleratedTaxDepreciationDeferredTax 2022-05-31 01338973 d:AcceleratedTaxDepreciationDeferredTax 2021-05-31 01338973 6 2021-06-01 2022-05-31 01338973 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-05-31 01338973 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2021-05-31 01338973 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2022-05-31 01338973 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2021-05-31 01338973 d:LeasedAssetsHeldAsLessee 2022-05-31 01338973 d:LeasedAssetsHeldAsLessee 2021-05-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 01338973

KESTERPORT LIMITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2022

KESTERPORT LIMITED

COMPANY INFORMATION

Directors	R D M Fletcher
	H L E Fletcher
	S M Anderson
	T W Hughes


Company secretary	N Mulville


Registered number	01338973


Registered office	Kestrel House
	Hanworth Lane
	Surrey
	KT16 9JX


Independent auditor	TWP Accounting LLP
	Chartered Accountants & Statutory Auditors
	The Old Rectory
	Church Street
	Weybridge
	Surrey
	KT13 8DE

KESTERPORT LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF KESTERPORT LIMITED

UNDER SECTION 449 OF THE COMPANIES ACT 2006

Opinion

We have audited the financial statements of Kesterport Limited (the 'Company') for the year ended 31 May 2022, which comprise the Balance Sheet and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

∙give a true and fair view of the state of the Company's affairs as at 31 May 2022 and of its profit for the year then ended;

∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

∙have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Page 1

KESTERPORT LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF KESTERPORT LIMITED (CONTINUED)

UNDER SECTION 449 OF THE COMPANIES ACT 2006

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

∙the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Directors' Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

∙the financial statements are not in agreement with the accounting records and returns; or

∙certain disclosures of directors' remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit; or

Responsibilities of directors

As explained more fully in the Directors' Responsibilities Statement set out on page 1, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

Page 2

KESTERPORT LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF KESTERPORT LIMITED (CONTINUED)

UNDER SECTION 449 OF THE COMPANIES ACT 2006

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

∙Obtain an understanding of the policies and procedures management have in place to detect and prevent fraud and non-compliance with laws and regulations.

∙Enquire of management any cases of actual or suspected fraud and non-compliance with laws and regulations.

∙Enquire of management and those charged with governance around actual and potential litigation and claims.

∙Reviewing minutes of meetings of those charged with governance.

∙Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

∙Assess the key risk areas within the financial statements which are susceptible to fraud or error and design our audit approach thereon.

∙Perform substantive tests on a sample of transactions throughout the financial statements to ensure that no material errors have been identified.

∙Perform cut off tests on a sample of transactions to ensure income has been accounted for in the correct period.

∙Review of after year end information to ensure expenditure has been accounted for in the correct period.

∙Perform analytical review procedures to identify any irregularities and investigation thereon.

∙Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.

Page 3

KESTERPORT LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF KESTERPORT LIMITED (CONTINUED)

UNDER SECTION 449 OF THE COMPANIES ACT 2006

Use of our report

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Philip Munk FCA FCCA (Senior Statutory Auditor)

for and on behalf of

TWP Accounting LLP

Chartered Accountants & Statutory Auditors

The Old Rectory

Church Street

Weybridge

Surrey

KT13 8DE

21 February 2023

Page 4

KESTERPORT LIMITED

REGISTERED NUMBER: 01338973

BALANCE SHEET

AS AT 31 MAY 2022

		2022		2021
Note		£		£

Fixed assets
Tangible assets	5		19,518		434,186
Investments	6		201		201
			19,719		434,387
Current assets
Stocks	7	1,521,791		810,419
Debtors: amounts falling due within one year	8	839,709		694,888
Cash at bank and in hand	9	813,042		1,629,629
		3,174,542		3,134,936
Creditors: amounts falling due within one year	10	(1,658,031)		(1,221,041)
Net current assets			1,516,511		1,913,895
Total assets less current liabilities			1,536,230		2,348,282
Creditors: amounts falling due after more than one year	11		(445,000)		(1,018,554)
Provisions for liabilities
Deferred tax	14	-		(2,308)
Other provisions	15	(289,713)		(541,787)
			(289,713)		(544,095)
Net assets			801,517		785,633

Capital and reserves
Called up share capital	16	9,172	9,172
Share premium account		1,500	1,500
Capital redemption reserve		1,828	1,828
Profit and loss account		789,017	773,133
		801,517	785,633

Page 5

KESTERPORT LIMITED

REGISTERED NUMBER: 01338973

BALANCE SHEET (CONTINUED)

AS AT 31 MAY 2022

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 February 2023.

................................................

R D M Fletcher

Director

The notes on pages 7 to 17 form part of these financial statements.

Page 6

KESTERPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2022

1.	General information

Kesterport Limited is incorporated in England and Wales and limited by shares. The principal activity of the company is that of furniture importers and wholesalers. The address of the registered office is given in the company's information page of these financial statements.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The following principal accounting policies have been applied:

2.2

Going concern

The company has made a profit during the year ended 31 May 2022, and continues to be profitable after the balance sheet despite the uncertainty of the COVID 19 Pandemic, and has retained cash reserves as disclosed on the balance sheet.
The Directors are confident that the company has adequate financial resources to continue in operational existence for the foreseeable future and meet its financial obligations, and therefore they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 7

KESTERPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2022

2.Accounting policies (continued)

2.4

Turnover

Turnover is recognised by the company when furniture is despatched with appropriate adjustment made in respect of income received in advance being included within accruals and deferred income.

2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

2.6

Leasing and hire purchase

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase 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 creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

2.7

Government grants

Grants are accounted under the accruals model as permitted by FRS 102.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the
same period as the related expenditure.

2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 8

KESTERPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2022

2.Accounting policies (continued)

2.10

Current and deferred taxation

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.11

Website

Website expenditure is only recognised on the balance sheet where it is specifically for development, rather than for maintenance and general updates. The website is being amortised over 3 years.

2.12

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property	-	2% - 6.67% on cost
Plant and machinery	-	20% on cost
Motor vehicles	-	20% on cost
Office equipment	-	20% - 33.33% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 9

KESTERPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2022

2.Accounting policies (continued)

2.13

Valuation of investments

Subsidiary Undertakings:

Investments in subsidiaries are measured at cost less accumulated impairment.

2.14

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

2.15

Debtors

Short term debtors are measured at transaction price, less any impairment.

2.16

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.17

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.18

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 25 (2021 - 26).

Page 10

KESTERPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2022

4.	Intangible assets

	Website	Total
	£	£
Cost
At 1 June 2021	20,020	20,020
At 31 May 2022	20,020	20,020
Amortisation
At 1 June 2021	20,020	20,020
At 31 May 2022	20,020	20,020
Net book value
At 31 May 2022	-	-
At 31 May 2021	-	-

Page 11

KESTERPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2022

5.	Tangible fixed assets

	Freehold property	Plant and machinery	Motor vehicles	Office equipment	Total
	£	£	£	£	£
Cost or valuation
At 1 June 2021	409,408	33,480	319,029	472,893	1,234,810
Additions	-	-	8,655	1,856	10,511
Disposals	(409,408)	(17,480)	(68,054)	(320,784)	(815,726)
At 31 May 2022	-	16,000	259,630	153,965	429,595
Depreciation
At 1 June 2021	15,229	23,493	307,729	454,173	800,624
Charge for the year on owned assets	2,014	2,752	1,355	8,180	14,301
Charge for the year on financed assets	1,597	894	6,251	2,728	11,470
Disposals	(18,840)	(15,940)	(60,754)	(320,784)	(416,318)
At 31 May 2022	-	11,199	254,581	144,297	410,077
Net book value
At 31 May 2022	-	4,801	5,049	9,668	19,518
At 31 May 2021	394,179	9,987	11,300	18,720	434,186

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
	2022	2021
	£	£


Motor vehicles	5,049	11,300
Office equipment	6,180	24,225
	11,229	35,525

Page 12

KESTERPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2022

6.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 June 2021	201
	At 31 May 2022	201

7.	Stocks
		2022	2021
		£	£

Stocks	1,521,791	810,419
	1,521,791	810,419

Debtors

					2022	2021
					£	£


Trade debtors	725,300	449,800
Other debtors	1,053	10,486
Prepayments and accrued income	112,037	234,602
Deferred taxation	1,319	-
	839,709	694,888

9.	Cash and cash equivalents
		2022	2021
		£	£

Cash at bank and in hand	813,042	1,629,629
	813,042	1,629,629

Page 13

KESTERPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2022

10.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Bank loans	200,000	223,616
Trade creditors	481,419	146,253
Amounts owed to group undertakings	-	139,231
Other taxation and social security	515,571	286,775
Obligations under finance lease and hire purchase contracts	12,431	24,648
Other creditors	5,367	5,903
Accruals and deferred income	443,243	394,615
	1,658,031	1,221,041

The bank loans of £200,000 (2021 - £223,616) are secured by a fixed and floating charge over all the assets of the company. The hire purchase agreements of £24,648 (2021 - £23,291) are secured on the assets to which they relate.

11.	Creditors: Amounts falling due after more than one year
		2022	2021
		£	£

Bank loans	445,000	1,006,127
Net obligations under finance leases and hire purchase contracts	-	12,427
	445,000	1,018,554

The bank loans of £445,000 (2021 - £1,006,127) are secured by a fixed and floating charge over all the assets of the company.

Page 14

KESTERPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2022

Amounts falling due within one year
Bank loans	200,000	223,616
	200,000	223,616
Amounts falling due 1-2 years
Bank loans	200,000	225,080
	200,000	225,080
Amounts falling due 2-5 years
Bank loans	245,000	781,047
	245,000	781,047

	645,000	1,229,743

Within one year	12,427	24,648
Between 1-5 years	-	12,427
	12,427	37,075

Page 15

KESTERPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2022

14.	Deferred taxation

		2022
		£

	At beginning of year	(2,308)
	Charged to profit or loss	3,627
	At end of year	1,319

The deferred taxation balance is made up as follows:
	2022	2021
	£	£

	Accelerated capital allowances	1,319	(2,308)
		1,319	(2,308)

15.	Provisions

		Deferred income
		£

	At 1 June 2021	541,787
	Charged to profit or loss	(252,074)
	At 31 May 2022	289,713

The income received in advance at the year end was £289,713 (2021 - £541,787).

16.	Share capital
		2022	2021
		£	£

Allotted, called up and fully paid

9,090 (2021 - 9,090) Class "A" ordinary shares of £1.00 each	9,090	9,090
82 (2021 - 82) Class "B" ordinary shares of £1.00 each	82	82

	9,172	9,172

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KESTERPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2022

17.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £115,237 (2021 - £114,123). Contributions totalling £5,367 (2021 - £5,903) were payable to the fund at the balance sheet date and are included in creditors.

18.Other financial commitments

At 31 May 2022 the company was committed to £1,198,945 (2021 - £582,828) in respect of forward currency contracts. Fair value measurement at the year end amounted to an derivative gain of £30,602 (2021 - loss of £48,792).

19.	Related party transactions
	The company is a wholly owned subsidiary and accordingly has taken the exemptions provided within paragraph 33.1A of FRS 102 and therefore transactions with group companies have not been disclosed.

20.	Ultimate parent undertaking and controlling party

The company is a wholly owned subsidiary of Kestrel House Holdings LTD, a company incorporated in England and Wales.
The ultimate controlling parties are R D M Fletcher and N Fletcher by virtue of shareholding in Kestrel House Holdings Limited.

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