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Registration number: 4786357

KPFP Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

KPFP Ltd

Contents

Company Information

1

Accountants' Report

2

Statement of Financial Position

3

Notes to the Unaudited Financial Statements

4 to 8

 

KPFP Ltd

Company Information

Directors

K Playle

S Scott

Company secretary

Ms E Dunbar

Registered office

11 Waterhouse Lane
Kingswood
Tadworth
Surrey
KT20 6EB

Accountants

DSK Partners LLP
Chartered Accountants
D S House
306 High Street
Croydon
Surrey
CR0 1NG

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
KPFP Ltd
for the Year Ended 30 June 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of KPFP Ltd for the year ended 30 June 2023 as set out on pages 3 to 8 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 at
http://www.icaew.com/regulation.

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

It is your duty to ensure that KPFP Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of KPFP Ltd. You consider that KPFP Ltd 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 accounts of KPFP Ltd. 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 accounts.

......................................

DSK Partners LLP
Chartered Accountants
D S House
306 High Street
Croydon
Surrey
CR0 1NG

13 February 2024

 

KPFP Ltd

(Registration number: 4786357)
Statement of Financial Position as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

13,150

21,473

Current assets

 

Debtors

5

2,087,105

1,337,465

Cash at bank and in hand

 

194,935

217,403

 

2,282,040

1,554,868

Creditors: Amounts falling due within one year

6

(1,219,467)

(671,389)

Net current assets

 

1,062,573

883,479

Total assets less current liabilities

 

1,075,723

904,952

Creditors: Amounts falling due after more than one year

6

(5,384)

(11,438)

Provisions for liabilities

(2,018)

(3,464)

Net assets

 

1,068,321

890,050

Capital and reserves

 

Called up share capital

2

2

Retained earnings

1,068,319

890,048

Shareholders' funds

 

1,068,321

890,050

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 13 February 2024 and signed on its behalf by:
 

K Playle
Director

S Scott
Director

 
     
 

KPFP Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
11 Waterhouse Lane
Kingswood
Tadworth
Surrey
KT20 6EB
England

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

These financial statements were authorised for issue by the Board on 13 February 2024.

2

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 all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

KPFP Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture and fittings

25% on reducing balance

Motor vehicles

25% on cost

Computer equipment

25% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

KPFP Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)

2

Accounting policies (continued)

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 income statement over the period of the relevant borrowing.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the income statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 15 (2022 - 14).

 

KPFP Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)

4

Tangible assets

Fixtures and fittings
£

Computer equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2022

9,221

43,253

36,171

88,645

Additions

-

1,989

-

1,989

At 30 June 2023

9,221

45,242

36,171

90,634

Depreciation

At 1 July 2022

8,421

36,257

22,494

67,172

Charge for the year

200

3,273

6,839

10,312

At 30 June 2023

8,621

39,530

29,333

77,484

Carrying amount

At 30 June 2023

600

5,712

6,838

13,150

At 30 June 2022

800

6,996

13,677

21,473

5

Debtors

Current

2023
£

2022
£

Trade debtors

531,928

601,610

Prepayments

54,083

34,889

Other debtors

1,501,094

700,966

 

2,087,105

1,337,465

 

KPFP Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

6,054

5,624

Trade creditors

 

875,754

383,687

Taxation and social security

 

130,928

186,472

Accruals and deferred income

 

201,111

89,509

Other creditors

 

5,620

6,097

 

1,219,467

671,389

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

5,384

11,438

7

Secured debts

2023
£

2022
£

Non-current loans and borrowings

Hire purchase contracts

5,384

11,438

2023
£

2022
£

Current loans and borrowings

Hire purchase contracts

6,054

5,624

Hire purchase contracts are secured on the relevant assets.