BrightAccountsProduction v1.0.0 v1.0.0 2022-11-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the business is the provision of plumbing, heating and ventilation services. 29 July 2024 0 0 NI626517 2023-10-31 NI626517 2022-10-31 NI626517 2021-10-31 NI626517 2022-11-01 2023-10-31 NI626517 2021-11-01 2022-10-31 NI626517 uk-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 NI626517 uk-curr:PoundSterling 2022-11-01 2023-10-31 NI626517 uk-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 NI626517 uk-bus:FullAccounts 2022-11-01 2023-10-31 NI626517 uk-bus:Director1 2022-11-01 2023-10-31 NI626517 uk-bus:Director2 2022-11-01 2023-10-31 NI626517 uk-bus:Director3 2022-11-01 2023-10-31 NI626517 uk-bus:Director4 2022-11-01 2023-10-31 NI626517 uk-bus:RegisteredOffice 2022-11-01 2023-10-31 NI626517 uk-bus:Agent1 2022-11-01 2023-10-31 NI626517 uk-core:ShareCapital 2023-10-31 NI626517 uk-core:ShareCapital 2022-10-31 NI626517 uk-core:RetainedEarningsAccumulatedLosses 2023-10-31 NI626517 uk-core:RetainedEarningsAccumulatedLosses 2022-10-31 NI626517 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-10-31 NI626517 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-10-31 NI626517 uk-bus:FRS102 2022-11-01 2023-10-31 NI626517 uk-core:PlantMachinery 2022-11-01 2023-10-31 NI626517 uk-core:FurnitureFittingsToolsEquipment 2022-11-01 2023-10-31 NI626517 uk-core:MotorVehicles 2022-11-01 2023-10-31 NI626517 uk-core:CurrentFinancialInstruments 2023-10-31 NI626517 uk-core:CurrentFinancialInstruments 2022-10-31 NI626517 uk-core:WithinOneYear 2023-10-31 NI626517 uk-core:WithinOneYear 2022-10-31 NI626517 uk-core:WithinOneYear 2023-10-31 NI626517 uk-core:WithinOneYear 2022-10-31 NI626517 uk-core:AfterOneYear 2023-10-31 NI626517 uk-core:AfterOneYear 2022-10-31 NI626517 uk-core:BetweenOneTwoYears 2023-10-31 NI626517 uk-core:BetweenOneTwoYears 2022-10-31 NI626517 uk-core:OtherMiscellaneousReserve 2022-10-31 NI626517 uk-core:OtherMiscellaneousReserve 2022-11-01 2023-10-31 NI626517 uk-core:AcceleratedTaxDepreciationDeferredTax 2023-10-31 NI626517 uk-core:TaxLossesCarry-forwardsDeferredTax 2023-10-31 NI626517 uk-core:OtherDeferredTax 2023-10-31 NI626517 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2023-10-31 NI626517 uk-core:OtherMiscellaneousReserve 2023-10-31 NI626517 2022-11-01 2023-10-31 NI626517 uk-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI626517
 
 
KPR Mechanical Ltd
 
Directors' Report and Unaudited Financial Statements
 
for the financial year ended 31 October 2023
KPR Mechanical Ltd
DIRECTORS AND OTHER INFORMATION

 
Directors Mr. Paul Muldoon
Mr. Ian Molyneaux
Mr. Kevin Muldoon
Mr. Michael Muldoon (Appointed 31 July 2023)
 
 
Company Registration Number NI626517
 
 
Registered Office 16 Mount Charles
Belfast
BT7  1NZ
 
 
Business Address Unit 5 & 6, Glenand Centre
Kennedy Way Industrial Estate
5 Blackstaff Way
Belfast
BT11 9BT
 
 
Accountants Muldoon & Co Ltd
Chartered Accountants & Reporting Accountants
16 Mount Charles
Belfast
BT7 1NZ
 
 
Bankers AIB
  35 University Road
  Belfast
  BT7 1ND



KPR Mechanical Ltd
DIRECTORS' REPORT
for the financial year ended 31 October 2023

 
The directors present their report and the unaudited financial statements for the financial year ended 31 October 2023.
 
Principal Activity
The principal activity of the business is the provision of plumbing, heating and ventilation services.
     
Results and Dividends
The profit for the financial year after providing for depreciation and taxation amounted to £318,416 (2022 - £1,087,945).
     
Directors
The directors who served during the financial year are as follows:
     
Mr. Paul Muldoon
Mr. Ian Molyneaux
Mr. Kevin Muldoon
Mr. Michael Muldoon (Appointed 31 July 2023)
   
There were no changes in shareholdings between 31 October 2023 and the date of signing the financial statements.
     
Statement of directors' Responsibilities and Declaration on Unaudited Financial Statements
     
General responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
     
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Entities). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:
- select suitable accounting policies and apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
     
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
     
Directors' declaration on unaudited financial statements
In relation to the financial statements comprising the Balance Sheet and the related notes:
     
The directors approve these financial statements and confirm that they are responsible for them, including selecting the appropriate accounting policies, applying them consistently and making, on a reasonable and prudent basis, the judgements underlying them. They have been prepared on the going concern basis on the grounds that the company will continue in business.
     
The directors confirm that they have made available to Muldoon & Co Ltd, (Chartered Accountants & Reporting Accountants), all the company's accounting records and provided all the information, books and documents necessary for the compilation of the financial statements.
     
Special provisions relating to small companies
The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
     
     
On behalf of the board
     
     
     
___________________________
Mr. Michael Muldoon
Director
     
     
     
___________________________
Mr. Paul Muldoon
Director
     
     
     
___________________________
Mr. Ian Molyneaux
Director
     
29 July 2024



KPR Mechanical Ltd
Company Registration Number: NI626517
BALANCE SHEET
as at 31 October 2023

2023 2022
Notes £ £
 
Fixed Assets
Tangible assets 4 25,057 26,507
───────── ─────────
 
Current Assets
Stocks 5 58,079 48,903
Debtors 6 726,464 1,961,903
Cash and cash equivalents 1,737,114 1,094,416
───────── ─────────
2,521,657 3,105,222
───────── ─────────
Creditors: amounts falling due within one year 7 (255,968) (1,086,575)
───────── ─────────
Net Current Assets 2,265,689 2,018,647
───────── ─────────
Total Assets less Current Liabilities 2,290,746 2,045,154
 
Creditors:
amounts falling due after more than one year 8 (19,072) (28,276)
 
Provisions for liabilities 10 (3,916) (5,036)
───────── ─────────
Net Assets 2,267,758 2,011,842
═════════ ═════════
 
Capital and Reserves
Called up share capital 50 50
Retained earnings 2,267,708 2,011,792
───────── ─────────
Equity attributable to owners of the company 2,267,758 2,011,842
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account.
           
For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 29 July 2024 and signed on its behalf by
           
           
           
________________________________          
Mr. Michael Muldoon          
Director          
           
           
           
________________________________
Mr. Paul Muldoon
Director
           
           
           
________________________________          
Mr. Ian Molyneaux          
Director          
           



KPR Mechanical Ltd
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 October 2023

   
1. General Information
 
KPR Mechanical Ltd is a private company limited by shares incorporated in Northern Ireland. 16 Mount Charles, Belfast BT7 1NZ is the registered office, with Unit 5&6 Glenand Cantre, Kennedy Way Industrial Estate, 5 Blackstaff Way, Belfast, BT11 9BT being the principal place of business of the company. The nature of the companys' operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 October 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 15% Reducing balance
  Fixtures, fittings and equipment - 15% Reducing balance
  Motor vehicles - 25% Reducing balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Leasing and hire purchases
Tangible assets held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Balance Sheet at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Profit and Loss Account.
 
Stocks
Stocks are valued at the lower of cost and net realisable value.  Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items.  Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was 11, (2022 - 11).
           
4. Tangible assets
  Plant and Fixtures, Motor Total
  machinery fittings and vehicles  
    equipment    
  £ £ £ £
Cost
At 1 November 2022 1,500 9,150 60,058 70,708
Additions - 4,891 - 4,891
  ───────── ───────── ───────── ─────────
At 31 October 2023 1,500 14,041 60,058 75,599
  ───────── ───────── ───────── ─────────
Depreciation
At 1 November 2022 1,091 5,561 37,549 44,201
Charge for the financial year 61 653 5,627 6,341
  ───────── ───────── ───────── ─────────
At 31 October 2023 1,152 6,214 43,176 50,542
  ───────── ───────── ───────── ─────────
Net book value
At 31 October 2023 348 7,827 16,882 25,057
  ═════════ ═════════ ═════════ ═════════
At 31 October 2022 409 3,589 22,509 26,507
  ═════════ ═════════ ═════════ ═════════
       
5. Stocks 2023 2022
  £ £
 
Work in progress 56,329 47,153
Finished goods and goods for resale 1,750 1,750
  ───────── ─────────
  58,079 48,903
  ═════════ ═════════
       
6. Debtors 2023 2022
  £ £
 
Trade debtors - 7,192
Other debtors 76,616 76,371
Directors' current accounts (Note 11) 73,379 115,205
Taxation  (Note 9) 40,197 144,163
Prepayments and accrued income 536,272 1,618,972
  ───────── ─────────
  726,464 1,961,903
  ═════════ ═════════
       
7. Creditors 2023 2022
Amounts falling due within one year £ £
 
Bank overdrafts 7,230 7,337
Bank loan 9,209 9,809
Trade creditors 135,244 433,719
Taxation  (Note 9) 68,761 252,165
Directors' current accounts 7,736 19,383
Accruals:
Pension accrual (1,280) 1,027
Other accruals 29,068 363,135
  ───────── ─────────
  255,968 1,086,575
  ═════════ ═════════
       
8. Creditors 2023 2022
Amounts falling due after more than one year £ £
 
Bank loan 19,072 28,276
  ═════════ ═════════
 
Loans
Repayable in one year or less, or on demand (Note 7) 16,439 17,146
Repayable between one and two years 19,072 28,276
  ───────── ─────────
  35,511 45,422
  ═════════ ═════════
 
       
9. Taxation 2023 2022
  £ £
 
Debtors:
VAT 7,807 124,245
Income tax 92 92
Relevant Contracts Tax - Republic of Ireland 32,298 19,826
  ───────── ─────────
  40,197 144,163
  ═════════ ═════════
Creditors:
Corporation tax 60,388 243,220
PAYE / NI 8,373 8,945
  ───────── ─────────
  68,761 252,165
  ═════════ ═════════
         
10. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total Total
  allowances    
       
    2023 2022
  £ £ £
 
At financial year start 5,036 5,036 6,294
Charged to profit and loss (1,120) (1,120) (1,258)
  ───────── ───────── ─────────
At financial year end 3,916 3,916 5,036
  ═════════ ═════════ ═════════
   
11. Directors' advances, credits and guarantees
 
Interest has been charged on any loans made to directors during the year at 2%.