Campbell Kemp Holdings Limited - Period Ending 2023-03-31
Campbell Kemp Holdings Limited - Period Ending 2023-03-31
Registration number:
Campbell Kemp Holdings Limited
|
|
Campbell Kemp Holdings Limited
Contents
Company Information |
|
Statement of Financial Position |
|
Notes to the Unaudited Financial Statements |
Campbell Kemp Holdings Limited
Company Information
Directors |
Y J C Wilcock S J Cryer |
Company secretary |
Y J C Wilcock |
Registered office |
|
Accountants |
|
Campbell Kemp Holdings Limited
Statement of Financial Position as at 31 March 2023
Note |
2023 |
2022 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Investment property |
|
|
|
Other financial assets |
2 |
2 |
|
|
|
||
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Total assets less current liabilities |
|
|
|
Provisions for liabilities |
- |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Capital redemption reserve |
|
|
|
Profit and loss account |
|
|
|
Total equity |
|
|
For the financial period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.
Campbell Kemp Holdings Limited
Statement of Financial Position as at 31 March 2023
Approved and authorised by the
.........................................
Y J C Wilcock
Company registration number: 00626163
Campbell Kemp Holdings Limited
Notes to the Unaudited Financial Statements for the Period from 25 June 2022 to 31 March 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal activity of the company is that of property investment.
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.
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.
Going concern
The company made a profit for the period ended 31 March 2023 and had net assets at that date amounting to £2,854,783 including cash at bank of £1,998,894.
The directors have considered the potential effect of the current economic outlook and the effect on the housing market and the directors' view is that the impact remains manageable.
On the basis of above, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors have adopted the going concern basis in preparing the financial statements.
Revenue recognition
The turnover shown in the profit and loss account represents rents received or receivable by the company in the normal course of the company's activities. The company recognises income from rent receivable evenly over the period of the lease or license.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Campbell Kemp Holdings Limited
Notes to the Unaudited Financial Statements for the Period from 25 June 2022 to 31 March 2023
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the statement of financial position 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 provided on tangible fixed assets so as to write off the cost or valuation less any estimated residual value over their expected useful economic life as follows;
Asset class |
Depreciation method and rate |
Computer equipment |
33.33% straight line |
Investment property
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.
Staff numbers |
The average number of persons employed by the company during the period, was
Campbell Kemp Holdings Limited
Notes to the Unaudited Financial Statements for the Period from 25 June 2022 to 31 March 2023
Tangible assets |
Computer equipment |
Total |
|
Cost or valuation |
||
At 25 June 2022 |
|
|
At 31 March 2023 |
|
|
Depreciation |
||
At 25 June 2022 |
|
|
Charge for the period |
|
|
At 31 March 2023 |
|
|
Carrying amount |
||
At 31 March 2023 |
|
|
At 24 June 2022 |
|
|
Investment properties |
2023 |
|
Fair value
|
|
Disposals |
( |
Fair value adjustments |
( |
At 31 March 2023 |
|
The company's investment properties are included at fair value as estimated by the directors at 31 March 2023 at an amount of £935,000.
Campbell Kemp Holdings Limited
Notes to the Unaudited Financial Statements for the Period from 25 June 2022 to 31 March 2023
Other financial assets (current and non-current) |
Financial assets at cost less impairment |
Total |
|
Non-current financial assets |
||
Cost or valuation |
||
At 25 June 2022 |
2 |
2 |
Additions |
10 |
10 |
Disposals |
(10) |
(10) |
At 31 March 2023 |
2 |
2 |
Carrying amount |
||
At 31 March 2023 |
|
2 |
At 24 June 2022 |
|
2 |
Debtors |
2023 |
2022 |
|
Trade debtors |
|
- |
Other debtors |
|
|
|
|
Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
Reserves |
Profit and loss account - this reserve represents cumulative profits and losses. At 31 March 2023 this reserve included an amount of £241,296 (2022 - £818,589) which is not distributable.
|