19 false false false false false false false false false true false false false false false true No description of principal activity 2023-03-01 Sage Accounts Production Advanced 2021 - FRS102_2021 1,540,000 1,360,333 154,000 1,514,333 25,667 179,667 xbrli:pure xbrli:shares iso4217:GBP 08882697 2023-03-01 2024-02-29 08882697 2024-02-29 08882697 2023-02-28 08882697 2022-03-01 2023-02-28 08882697 2023-02-28 08882697 core:NetGoodwill 2023-03-01 2024-02-29 08882697 bus:Director1 2023-03-01 2024-02-29 08882697 core:NetGoodwill 2023-02-28 08882697 core:NetGoodwill 2024-02-29 08882697 core:LandBuildings 2023-02-28 08882697 core:LandBuildings 2024-02-29 08882697 core:WithinOneYear 2024-02-29 08882697 core:WithinOneYear 2023-02-28 08882697 core:AfterOneYear 2024-02-29 08882697 core:AfterOneYear 2023-02-28 08882697 core:ShareCapital 2024-02-29 08882697 core:ShareCapital 2023-02-28 08882697 core:RetainedEarningsAccumulatedLosses 2024-02-29 08882697 core:RetainedEarningsAccumulatedLosses 2023-02-28 08882697 core:NetGoodwill 2023-02-28 08882697 core:LandBuildings 2023-02-28 08882697 bus:Director1 2023-02-28 08882697 bus:Director1 2024-02-29 08882697 bus:Director1 2022-02-28 08882697 bus:Director1 2023-02-28 08882697 bus:Director1 2022-03-01 2023-02-28 08882697 bus:SmallEntities 2023-03-01 2024-02-29 08882697 bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 08882697 bus:FullAccounts 2023-03-01 2024-02-29 08882697 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 08882697 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29
COMPANY REGISTRATION NUMBER: 08882697
KDPG LIMITED
Filleted Unaudited Financial Statements
29 February 2024
KDPG LIMITED
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
£
Fixed assets
Intangible assets
5
25,667
179,667
Tangible assets
6
319,643
370,401
---------
---------
345,310
550,068
Current assets
Debtors
7
1,547,661
1,362,556
Cash at bank and in hand
49,770
40,725
------------
------------
1,597,431
1,403,281
Creditors: amounts falling due within one year
8
549,947
465,252
------------
------------
Net current assets
1,047,484
938,029
------------
------------
Total assets less current liabilities
1,392,794
1,488,097
Creditors: amounts falling due after more than one year
9
335,587
423,935
------------
------------
Net assets
1,057,207
1,064,162
------------
------------
Capital and reserves
Called up share capital
2
2
Profit and loss account
1,057,205
1,064,160
------------
------------
Shareholders funds
1,057,207
1,064,162
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 29 February 2024 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
KDPG LIMITED
Statement of Financial Position (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 11 November 2024 , and are signed on behalf of the board by:
D E King
Director
Company registration number: 08882697
KDPG LIMITED
Notes to the Financial Statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 22 Beacon House, 1 Willow Walk, Skelmersdale, Lancashire, WN8 6UR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are no judegements, estimates and assumptions included within these financial statements.
Revenue recognition
Turnover represents the value of dentistry goods or services supplied. NHS income is recognised based on the levels of dental activity delivered. Where there is under-delivery against target activity levels, a potential clawback arises and a creditor is established.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 19 (2023: 19 ).
5. Intangible assets
Goodwill
£
Cost
At 1 March 2023 and 29 February 2024
1,540,000
------------
Amortisation
At 1 March 2023
1,360,333
Charge for the year
154,000
------------
At 29 February 2024
1,514,333
------------
Carrying amount
At 29 February 2024
25,667
------------
At 28 February 2023
179,667
------------
6. Tangible assets
Land and buildings
Equipment
Total
£
£
£
Cost
At 1 March 2023
169,428
328,130
497,558
Additions
23,435
23,435
---------
---------
---------
At 29 February 2024
169,428
351,565
520,993
---------
---------
---------
Depreciation
At 1 March 2023
127,157
127,157
Charge for the year
74,193
74,193
---------
---------
---------
At 29 February 2024
201,350
201,350
---------
---------
---------
Carrying amount
At 29 February 2024
169,428
150,215
319,643
---------
---------
---------
At 28 February 2023
169,428
200,973
370,401
---------
---------
---------
7. Debtors
2024
2023
£
£
Trade debtors
124,459
330,617
Other debtors
1,423,202
1,031,939
------------
------------
1,547,661
1,362,556
------------
------------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
72,720
65,307
Trade creditors
273,221
209,414
Corporation tax
133,248
149,234
Other creditors
70,758
41,297
---------
---------
549,947
465,252
---------
---------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
332,552
406,792
Other creditors
3,035
17,143
---------
---------
335,587
423,935
---------
---------
10. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
D E King
704,329
376,362
1,080,691
---------
---------
------------
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
D E King
640,677
63,652
704,329
---------
--------
---------
11. Related party transactions
The company was under the control of Mr D E King and Mrs R M A King throughout the current period. Mr D E King and Mrs R M A King are the directors and majority shareholders. During the period Mr D E King and Mrs R M A King charged the company £23,660 rent in respect of property let to the company (2023 £23,660). The transaction was carried out on an arms length basis under normal commercial terms.