Company No:
Contents
DIRECTORS | Mr D L Bearman |
Mr R D Levi |
REGISTERED OFFICE | 7th Floor South Block |
55 Baker Street | |
London | |
W1U 8EW | |
United Kingdom |
COMPANY NUMBER | 11885821 (England and Wales) |
The directors present their annual report and the financial statements for the year ended 31 December 2021.
GOING CONCERN
DIRECTORS
The directors, who held office during the year were as follows:
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Approved by the Board of Directors and signed on its behalf by:
Mr D L Bearman
Director |
2021 | 2020 | |||
£ | £ | |||
Administrative expenses | (
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Operating loss | (
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Income from shares in a Group undertaking |
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Profit before interest and taxation | 936,170 | 187,398 | ||
Interest receivable and similar income |
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Interest payable and similar expenses | (
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Profit before taxation |
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Tax on profit |
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Profit for the financial year |
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Note | 2021 | 2020 | ||
£ | £ | |||
Fixed assets | ||||
Investments | 4 |
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232,229 | 232,229 | |||
Current assets | ||||
Debtors | ||||
- due within one year | 5 |
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- due after more than one year | 5 |
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Cash at bank and in hand |
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11,467 | 2,773,884 | |||
Creditors | ||||
Amounts falling due within one year | 6 | (
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Net current (liabilities)/assets | (19,314) | 2,704,304 | ||
Total assets less current liabilities | 212,915 | 2,936,533 | ||
Creditors | ||||
Amounts falling due after more than one year | 7 |
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Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Capital contribution reserve |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Kilby House Holdings Limited (registered number:
Mr D L Bearman
Director |
Called-up share capital | Capital contribution reserve | Profit and loss account | Total | ||||
£ | £ | £ | £ | ||||
At 01 January 2020 |
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Profit for the financial year |
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Total comprehensive income |
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Dividends paid on equity shares (note 3) |
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Transfers |
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At 31 December 2020 |
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At 01 January 2021 |
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Profit for the financial year |
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Total comprehensive income |
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Dividends paid on equity shares (note 3) |
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Transfers |
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At 31 December 2021 |
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The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Kilby House Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 7th Floor South Block, 55 Baker Street, London, W1U 8EW, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
The financial statements have been prepared on a basis other than that of a going concern as the directors intend to apply to the Registrar of Companies to strike off the Company from the Companies Register within the next 12 months. There has been no impact to the financial statements as a result of preparing on this basis.
Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.
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.
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 the other group companies are recognised in the year to which they relate.
Investments in subsidiaries are measured at cost less impairment.
Interest-free borrowings or loans at non-market rates of interest are discounted to present value by charging notional interest as a market rate of interest based on the rate that would apply to similar debt instruments. Where interest-free borrowings are repayable on demand no discounting takes place and the loans are held at fair value.
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 are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Financial instruments are impaired when an indication of impairment has become evident.
Final dividend distribution to the company's shareholders are recognised as a liability in the financial statements in the reporting period in which the dividends are approved by members. Interim dividend distributions to the company's shareholders are recognsied in the reporting period in which they are paid.
2021 | 2020 | ||
Number | Number | ||
The average number of persons employed by the company during the year was |
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2021 | 2020 | ||
£ | £ | ||
Amounts recognised as distributions to equity holders in the financial year: | |||
Interim dividend of £490.20 (2020: £136.55) per each ordinary share | 700,000 | 195,000 | |
Interim dividend of £244,944 (2020: £Nil) per each consultant share | 244,944 | 0 | |
944,944 | 195,000 | ||
2021 | 2020 | ||
£ | £ | ||
Subsidiary undertakings |
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Investments in subsidiaries
2021 | |
£ | |
Cost | |
At 01 January 2021 |
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At 31 December 2021 |
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Carrying value at 31 December 2021 |
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Carrying value at 31 December 2020 |
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Investments in shares
Name of entity | Registered office | Nature of business | Class of shares |
Ownership 31.12.2021 |
Ownership 31.12.2020 |
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England & Wales | Other letting and operating of own or leased real estate |
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2021 | 2020 | ||
£ | £ | ||
Debtors: amounts falling due within one year | |||
Amounts owed by Group undertakings |
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Amounts owed by related parties |
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Other debtors |
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Debtors: amounts falling due after more than one year | |||
Amounts owed by Group undertakings |
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2021 | 2020 | ||
£ | £ | ||
Trade creditors |
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Amounts owed to Group undertakings |
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Amounts owed to related parties |
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Other creditors |
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In the prior year, within amounts owed to related parties was an unsecured loan from Mr H D Nathanson which was interest free and repayable on demand. Kilby House Holdings Limited repaid the remaining loan on 13 August 2021.
2021 | 2020 | ||
£ | £ | ||
Bank loans |
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Amounts owed to related parties |
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Other loans |
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0 | 2,829,037 |
The bank loan was denominated in Sterling with an interest rate of 3 month GBP LIBOR + 2%. Kilby House Holdings Limited repaid the loan on 19 July 2021.
Amounts owed to related parties
In the prior year, within amounts owed to related parties was an unsecured loan from a shareholder and director with an interest rate of 3 month GBP LIBOR + 2%. Kilby House Holdings Limited repaid the remaining loan on 2 August 2021.
Other loans
In the prior year, within Other Loans were unsecured loans from shareholders with an interest rate of 3 month GBP LIBOR + 2%. Kilby House Holdings Limited repaid the remaining balances on these loan on 2 August 2021.
The company's immediate and ultimate parent company is Firefly Capital Limited, incorporated in England & 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.