Black Kettle (Norfolk) Limited - Accounts to registrar (filleted) - small 23.2.5

Black Kettle (Norfolk) Limited - Accounts to registrar (filleted) - small 23.2.5

BLACK KETTLE (NORFOLK) LIMITED - Company Information

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REGISTERED NUMBER: 07631408 (England and Wales)















Abridged Unaudited Financial Statements for the Year Ended 31 August 2023

for

Black Kettle (Norfolk) Limited
Black Kettle (Norfolk) Limited (Registered number: 07631408)

Contents of the Financial Statements
for the Year Ended 31 August 2023










Page

Company Information 1

Chartered Accountants' Report 2

Abridged Balance Sheet 3

Notes to the Financial Statements 5


Black Kettle (Norfolk) Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: M P Bastow
T P Webster





SECRETARY: M P Bastow





REGISTERED OFFICE: Dencora Court
2 Meridian Way
Norwich
Norfolk
NR7 0TA





REGISTERED NUMBER: 07631408 (England and Wales)





ACCOUNTANTS: JDC Chartered Accountants and Business Advisors
Dencora Court
2 Meridian Way
Norwich
Norfolk
NR7 0TA
Page 1
Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Black Kettle (Norfolk) Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Black Kettle (Norfolk) Limited for the year ended 31 August 2023 which comprise the Income Statement, Abridged Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Black Kettle (Norfolk) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Black Kettle (Norfolk) Limited and state those matters that we have agreed to state to the Board of Directors of Black Kettle (Norfolk) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Black Kettle (Norfolk) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Black Kettle (Norfolk) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Black Kettle (Norfolk) Limited. You consider that Black Kettle (Norfolk) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Black Kettle (Norfolk) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






JDC Chartered Accountants and Business Advisors
Dencora Court
2 Meridian Way
Norwich
Norfolk
NR7 0TA


14 March 2024

This page does not form part of the statutory financial statements

Page 2
Black Kettle (Norfolk) Limited (Registered number: 07631408)

Abridged Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 743,301 770,699
Investments 5 5,880 5,880
Investment property 6 625,000 625,000
1,374,181 1,401,579

CURRENT ASSETS
Debtors 273,587 116,811
Cash at bank 276,342 498,085
549,929 614,896
CREDITORS
Amounts falling due within one year 525,214 361,535
NET CURRENT ASSETS 24,715 253,361
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,398,896
1,654,940

PROVISIONS FOR LIABILITIES 16,705 17,101
NET ASSETS 1,382,191 1,637,839

CAPITAL AND RESERVES
Called up share capital 5,880 5,880
Fair value reserve 7 209,545 209,545
Retained earnings 1,166,766 1,422,414
SHAREHOLDERS' FUNDS 1,382,191 1,637,839

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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 notes form part of these financial statements

Page 3 continued...
Black Kettle (Norfolk) Limited (Registered number: 07631408)

Abridged Balance Sheet - continued
31 August 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 August 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 14 March 2024 and were signed on its behalf by:





M P Bastow - Director


The notes form part of these financial statements

Page 4
Black Kettle (Norfolk) Limited (Registered number: 07631408)

Notes to the Financial Statements
for the Year Ended 31 August 2023


1. STATUTORY INFORMATION

Black Kettle (Norfolk) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Preparation of consolidated financial statements
The financial statements contain information about Black Kettle (Norfolk) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 10% on cost and 2% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment properties comprise properties not used within the group's trade and are shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to a fair value reserve.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.


Page 5 continued...
Black Kettle (Norfolk) Limited (Registered number: 07631408)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Other operating income
Other operating income includes rents receivable for the year on properties owned by the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2022
and 31 August 2023 1,413,182
DEPRECIATION
At 1 September 2022 642,483
Charge for year 27,398
At 31 August 2023 669,881
NET BOOK VALUE
At 31 August 2023 743,301
At 31 August 2022 770,699

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 September 2022
and 31 August 2023 5,880
NET BOOK VALUE
At 31 August 2023 5,880
At 31 August 2022 5,880

Page 6 continued...
Black Kettle (Norfolk) Limited (Registered number: 07631408)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2022
and 31 August 2023 625,000
NET BOOK VALUE
At 31 August 2023 625,000
At 31 August 2022 625,000

Fair value at 31 August 2023 is represented by:
£   
Valuation in 2015 284,865
Valuation in 2016 (55,711 )
Valuation in 2018 (44,886 )
Valuation in 2019 (27,816 )
Valuation in 2020 (2,620 )
Valuation in 2021 55,712
Cost 415,456
625,000

If the properties had not been revalued they would have been included at the following historical cost:

31.8.23 31.8.22
£    £   
Cost 415,456 415,456
Aggregate depreciation (86,169 ) (77,860 )

One of the investment properties was valued in September 2014 by Strutt & Parker however, the directors are of the opinion that the value is materially correct at the year end. Three other properties were valued in September 2018 by Watsons.

7. RESERVES
Fair
value
reserve
£   
At 1 September 2022
and 31 August 2023 209,545

Included in retained earnings is an amount of £907,687 (2022: £907,687) which is not distributable as it relates to dividends in specie received from the subsidiary undertaking Janith Homes Limited.

Page 7 continued...
Black Kettle (Norfolk) Limited (Registered number: 07631408)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2023 and 31 August 2022:

31.8.23 31.8.22
£    £   
M P Bastow
Balance outstanding at start of year 6,740 75,236
Amounts advanced 248,984 6,740
Amounts repaid (6,740 ) (75,236 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 248,984 6,740

The loan was unsecured, was subject to interest at the HMRC approved interest rate amounting to £2,615 (2022: £890) and was repaid in full on 8 February 2024.

9. RELATED PARTY DISCLOSURES

The company received rents of £78,000 (2022: £78,000) in respect of properties rented to its subsidiary undertaking Janith Homes Limited. The level of rental income was agreed between the companies without obtaining any formal assessment of the market rent.

Page 8