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Company Registration No. NI627706 (Northern Ireland)
KPP Developments Ltd Unaudited accounts for the year ended 31 December 2023
KPP Developments Ltd Unaudited accounts Contents
Page
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KPP Developments Ltd Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
60,944 
74,420 
Current assets
Inventories
738,321 
570,592 
Debtors
- 
91 
Cash at bank and in hand
495,049 
794,884 
1,233,370 
1,365,567 
Creditors: amounts falling due within one year
(147,021)
(109,703)
Net current assets
1,086,349 
1,255,864 
Total assets less current liabilities
1,147,293 
1,330,284 
Creditors: amounts falling due after more than one year
(772,952)
(1,021,533)
Net assets
374,341 
308,751 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
374,241 
308,651 
Shareholders' funds
374,341 
308,751 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 7 June 2024 and were signed on its behalf by
Padraig Cunningham Director Company Registration No. NI627706
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KPP Developments Ltd Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
KPP Developments Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI627706. The registered office is 4 WOODBROOK PARK, WARRENPOINT, NEWRY, BT34 3HL, NORTHERN IRELAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
5% Straight Line
Fixtures & fittings
25% Reducing Balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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KPP Developments Ltd Notes to the Accounts for the year ended 31 December 2023
4
Tangible fixed assets
Land & buildings 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2023
41,026 
106,406 
147,432 
At 31 December 2023
41,026 
106,406 
147,432 
Depreciation
At 1 January 2023
12,307 
60,705 
73,012 
Charge for the year
2,051 
11,425 
13,476 
At 31 December 2023
14,358 
72,130 
86,488 
Net book value
At 31 December 2023
26,668 
34,276 
60,944 
At 31 December 2022
28,719 
45,701 
74,420 
5
Inventories
2023 
2022 
£ 
£ 
Finished goods
738,321 
570,592 
738,321 
570,592 
The carrying amount of stocks includes £652,837 (2022: £476,521) of development land held for sale at 31 December 2023.
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due after more than one year
Other debtors
- 
91 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
10,644 
10,644 
VAT
3,788 
4,986 
Trade creditors
60,572 
57,046 
Taxes and social security
24,021 
16,239 
Loans from directors
36,121 
9,801 
Accruals
11,630 
10,620 
Deferred income
245 
367 
147,021 
109,703 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
15,931 
25,792 
Amounts owed to group undertakings and other participating interests
457,021 
620,741 
Loans from directors
300,000 
375,000 
772,952 
1,021,533 
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KPP Developments Ltd Notes to the Accounts for the year ended 31 December 2023
9
Average number of employees
During the year the average number of employees was 12 (2022: 15).
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