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KP SOLICITORS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






KP SOLICITORS LIMITED (REGISTERED NUMBER: 09289730)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KP SOLICITORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: S M D Parrott
D J Killingworth
Mrs A McGuckin Waltho





REGISTERED OFFICE: 65 Chapel Street
Belper
Derbyshire
DE56 1AR





REGISTERED NUMBER: 09289730 (England and Wales)





ACCOUNTANTS: Sibbalds Limited
Chartered Accountants and Business Advisers
Oakhurst House
57 Ashbourne Road
Derby
Derbyshire
DE22 3FS

KP SOLICITORS LIMITED (REGISTERED NUMBER: 09289730)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 461,950 475,205

CURRENT ASSETS
Stocks 1,500 1,500
Debtors 5 79,030 75,953
Cash at bank and in hand 171,340 117,524
251,870 194,977
CREDITORS
Amounts falling due within one year 6 228,020 181,645
NET CURRENT ASSETS 23,850 13,332
TOTAL ASSETS LESS CURRENT LIABILITIES 485,800 488,537

CREDITORS
Amounts falling due after more than one
year

7

(249,000

)

(249,000

)

PROVISIONS FOR LIABILITIES 9 (22,300 ) (23,600 )
NET ASSETS 214,500 215,937

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Retained earnings 213,500 214,937
SHAREHOLDERS' FUNDS 214,500 215,937

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

KP SOLICITORS LIMITED (REGISTERED NUMBER: 09289730)

BALANCE SHEET - continued
31 DECEMBER 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 March 2024 and were signed on its behalf by:





S M D Parrott - Director


KP SOLICITORS LIMITED (REGISTERED NUMBER: 09289730)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

KP Solicitors 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 5% on cost and 2% on cost
Fixtures and fittings - 25% on reducing balance

Freehold land is not depreciated.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


KP SOLICITORS LIMITED (REGISTERED NUMBER: 09289730)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 January 2023 522,295 14,371 536,666
Additions - 3,760 3,760
Disposals - (5,851 ) (5,851 )
At 31 December 2023 522,295 12,280 534,575
DEPRECIATION
At 1 January 2023 52,731 8,730 61,461
Charge for year 14,368 1,500 15,868
Eliminated on disposal - (4,704 ) (4,704 )
At 31 December 2023 67,099 5,526 72,625
NET BOOK VALUE
At 31 December 2023 455,196 6,754 461,950
At 31 December 2022 469,564 5,641 475,205

Included in cost of land and buildings is freehold land of £ 194,045 (2022 - £ 194,045 ) which is not depreciated.

KP SOLICITORS LIMITED (REGISTERED NUMBER: 09289730)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 37,994 35,525
Other debtors 41,036 40,428
79,030 75,953

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 597 622
Taxation and social security 74,107 50,418
Other creditors 153,316 130,605
228,020 181,645

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 249,000 249,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 249,000 249,000

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 249,000 249,000

The bank loans are secured against the properties.

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 22,300 23,600

KP SOLICITORS LIMITED (REGISTERED NUMBER: 09289730)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2023 23,600
Provided during year (1,300 )
Balance at 31 December 2023 22,300

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000