Registration number:
Period from 15 March 2019 to
Kilby House Holdings Limited
Contents
Company Information |
|
Directors' Report |
|
Profit and Loss Account |
|
Balance Sheet |
|
Statement of Changes in Equity |
|
Notes to the Financial Statements |
Kilby House Holdings Limited
Company Information
Directors |
Mr D L Bearman Mr R D Levi |
Registered office |
|
Page 1 |
Kilby House Holdings Limited
Directors' Report
Period from 15 March 2019 to 31 December 2019
The directors present their report and the financial statements for the period from 15 March 2019 to 31 December 2019.
Incorporation
The company was incorporated on
Directors of the company
The directors who held office during the period were as follows:
Going concern
The financial statements have been prepared on a going concern basis as the company expects to generate sufficient profit and cash flow to meet the terms of its loans and other creditors.
Small companies provision statement
This report has 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.
Approved by the Board on
.........................................
Mr D L Bearman
Director
Page 2 |
Kilby House Holdings Limited
Profit and Loss Account
Period from 15 March 2019 to 31 December 2019
15 March to |
|
Turnover |
- |
Administrative expenses |
( |
Operating loss |
( |
Income receivable from group undertakings |
|
Interest payable and similar expenses |
( |
Profit before tax |
|
Taxation |
|
Profit for the financial period |
|
Page 3 |
Kilby House Holdings Limited
(Registration number: 11885821)
Balance Sheet as at 31 December 2019
Note |
2019 |
|
Fixed assets |
||
Investments |
|
|
Debtors |
2,717,375 |
|
|
||
Current assets |
||
Debtors |
|
|
Creditors: Amounts falling due within one year |
( |
|
Net current liabilities |
( |
|
Total assets less current liabilities |
|
|
Creditors: Amounts falling due after more than one year |
( |
|
Net assets |
|
|
Capital and reserves |
||
Called up share capital |
|
|
Capital contribution reserve |
|
|
Profit and loss account |
|
|
Total equity |
|
For the financial period ending 31 December 2019 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.
Page 4 |
Kilby House Holdings Limited
(Registration number: 11885821)
Balance Sheet as at 31 December 2019
Approved and authorised by the
.........................................
Mr D L Bearman
Director
Page 5 |
Kilby House Holdings Limited
Statement of Changes in Equity
Period from 15 March 2019 to 31 December 2019
Note |
Share capital |
Capital contribution reserve |
Profit and loss account |
Total |
|
At 15 March 2019 |
- |
- |
- |
- |
|
Profit for the period |
- |
- |
|
|
|
Total comprehensive income |
- |
- |
|
|
|
New share capital subscribed |
1,429 |
- |
- |
1,429 |
|
Capital contribution |
- |
66,111 |
- |
66,111 |
|
Transfers |
- |
(2,977) |
2,977 |
- |
|
At 31 December 2019 |
|
|
|
|
Page 6 |
Kilby House Holdings Limited
Notes to the Financial Statements
Period from 15 March 2019 to 31 December 2019
General information |
The company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
United Kingdom
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 the period presented, unless otherwise stated.
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'.
Basis of preparation
The financial statements have been prepared under the historical cost convention.
The financial statements are presented in Sterling which is the functional currency of the company and rounded to the nearest £.
Disclosure of long or short period
Going concern
The financial statements have been prepared on a going concern basis as the company expects to generate sufficient profit and cash flow to meet the terms of its loans and other creditors.
Exemption from preparing group accounts
The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small sized group.
Group relief
Charges for amounts payable in respect of tax losses surrendered to the company or credits for amounts receivable in respect of tax losses surrendered by the company and utilised by other group companies are recognised in the year to which they relate.
Page 7 |
Kilby House Holdings Limited
Notes to the Financial Statements
Period from 15 March 2019 to 31 December 2019
Tax
The tax expense for the period comprises current 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.
The current 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.
Investments
Investments in subsidiaries are measured at cost less accumulated impairment.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss over the period of the relevant borrowing.
Loans at non-market rates of interest are discounted to net present value of future cash flows, and are discounted at the market rate of interest that would apply to similar debt instruments, with the difference taken as a capital contribution recognised in other comprehensive income. Loans made to subsidiaries at non-market rates of interest are discounted to net present value, with the difference taken as an addition to the investment in subsidiary.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Financial instruments
Staff numbers |
The average number of persons employed by the company during the period was
Page 8 |
Kilby House Holdings Limited
Notes to the Financial Statements
Period from 15 March 2019 to 31 December 2019
Investments |
2019 |
|
Investments in subsidiaries |
|
Subsidiaries |
£ |
Cost or valuation |
|
At 15 March 2019 |
- |
Additions |
|
At 31 December 2019 |
|
Carrying amount |
|
At 31 December 2019 |
|
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
|
2019 |
||||
Subsidiary undertakings |
||||
|
England & Wales |
Ordinary shares |
|
|
Page 9 |
Kilby House Holdings Limited
Notes to the Financial Statements
Period from 15 March 2019 to 31 December 2019
Debtors (due after more than one year) |
2019 |
|
Amounts owed by group undertakings |
2,717,375 |
During the period Kilby House Holdings Limited made a loan to Kilby House Limited of £2,915,950. The loan is unsecured with an interest rate of 3 month GBP LIBOR + 2% and is due for repayment on 13 August 2024. The loan is being held at amortised cost using an effective interest rate of 4.27%.
Recognising the loan at present value has resulted in a difference of £232,219 which has been recognised as part of the cost of the investment in the subsidiary.
During the year, interest of £24,118 and notional finance income of £9,526 were recognised. The carrying amount of the loan at the year end is £2,717,375.
Debtors (within one year) |
2019 |
|
Amounts owed from group undertakings |
777 |
Other debtors |
285 |
Amounts owed from related parties |
144 |
|
Creditors |
Note |
2019 |
|
Due within one year |
||
Amounts owed to group undertakings |
|
|
Accruals |
20,786 |
|
Loans and borrowings due to related parties |
41,162 |
|
|
Page 10 |
Kilby House Holdings Limited
Notes to the Financial Statements
Period from 15 March 2019 to 31 December 2019
Note |
2019 |
|
Due after one year |
||
Bank borrowings |
1,995,489 |
|
Other borrowings |
545,764 |
|
Loans and borrowings due to related parties |
273,125 |
|
2,814,378 |
Loans and borrowings |
2019 |
|
Current loans and borrowings |
|
Loans and borrowings due to related parties |
|
Loans and borrowings due to related parties
During the period a loan was made by Mr H D Nathanson to Kilby House Holdings Limited. The loan is interest free and repayable on demand. The carrying amount at the period end is £41,162.
2019 |
|
Non-current loans and borrowings |
|
Bank borrowings |
|
Other borrowings |
|
Loans and borrowings due to related parties |
273,125 |
|
Bank borrowings
The bank loan is denominated in Sterling with an interest rate of 3 month GBP LIBOR + 2% and is due for repayment on 15 September 2022. The loan is guaranteed by the ultimate shareholder. The carrying amount at the period end is £1,995,489.
Loans and borrowings due to related parties
During the period a loan of £291,596 was made from a shareholder and director to Kilby House Holdings Limited. The loan is unsecured with an interest rate of 3 month GBP LIBOR + 2% and is due for repayment on 8 September 2024. The loan is being held at amortised cost using an effective interest rate of 4.27%. Recognising the loan at present value has resulted in the recognition of a capital contribution of £22,038. During the period, interest of £2,412 and a notional finance cost of £1,155 were recognised. The carrying amount of the loan at the year end is £273,125.
Page 11 |
Kilby House Holdings Limited
Notes to the Financial Statements
Period from 15 March 2019 to 31 December 2019
Other borrowings
During the period a loan of £437,394 was made from a shareholder to Kilby House Holdings Limited. The loan is unsecured with an interest rate of 3 month GBP LIBOR + 2% and is due for repayment on 16 September 2024. The loan is being held at amortised cost using an effective interest rate of 4.27%. Recognising the loan at present value has resulted in the recognition of a capital contribution of £33,055. During the period, interest of £3,618 and a notional finance cost of £1,354 were recognised. The carrying amount of the loan at the year end is £409,311.
During the period a loan of £145,798 was made from a shareholder to Kilby House Holdings Limited. The loan is unsecured with an interest rate of 3 month GBP LIBOR + 2% and is due for repayment on 15 September 2024. The loan is being held at amortised cost using an effective interest rate of 4.27%. Recognising the loan at present value has resulted in the recognition of a capital contribution of £11,018. During the period, interest of £1,206 and a notional finance cost of £467 were recognised. The carrying amount of the loan at the year end is £136,453.
Parent and ultimate parent undertaking |
The company's parent is Firefly Capital Limited, incorporated in England and Wales.
The most senior parent entity producing publicly available consolidated financial statements is Firefly Capital Limited. These financial statements are publicly available from Companies House.
Page 12 |