2023-04-012024-03-312024-03-31false11031926NPI (Kettering) 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NPI (Kettering) Ltd

Registered Number
11031926
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

NPI (Kettering) Ltd
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

Benjamin Spickernell
Thomas G Spickernell
Marcus R Hayes

Registered Address

The Forge
Sutton Maddock
Shifnal
TF11 9ND

Registered Number

11031926 (England and Wales)
NPI (Kettering) Ltd
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets385127
Investment property4352,945680,678
353,030680,805
Current assets
Debtors25,15616,118
25,15616,118
Creditors amounts falling due within one year5(37,333)(369,653)
Net current assets (liabilities)(12,177)(353,535)
Total assets less current liabilities340,853327,270
Provisions for liabilities6(21,694)(21,694)
Net assets319,159305,576
Capital and reserves
Called up share capital100100
Revaluation reserve98,116146,996
Profit and loss account220,943158,480
Shareholders' funds319,159305,576
The financial statements were approved and authorised for issue by the Board of Directors on 27 December 2024, and are signed on its behalf by:
Benjamin Spickernell
Director
Registered Company No. 11031926
NPI (Kettering) Ltd
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Office Equipment33
Investment property
Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 April 231,2651,265
At 31 March 241,2651,265
Depreciation and impairment
At 01 April 231,1381,138
Charge for year4242
At 31 March 241,1801,180
Net book value
At 31 March 248585
At 31 March 23127127
4.Investment property
The property has been valued by the directors with reference to current market conditions. Although no formal valuation has been undertaken they are of the opinion that the financial statements give a fair reflection of its value at the date of signing and they are unaware of any specific issues which will significantly affect this in the foreseeable future.

£
Fair value at 01 April 23680,678
Disposals(327,733)
At 31 March 24352,945
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables8801,403
Amounts owed to related parties20,741335,523
Taxation and social security(259)1,141
Other creditors8,13816,223
Accrued liabilities and deferred income7,83315,363
Total37,333369,653
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)21,69421,694
Total21,69421,694
7.Related party transactions
The Company has borrowed £20,741 (2023: £335,523) from its parent company. This loan is denominated in sterling and has been provided interest free with no fixed repayment date, but it is likely to be repaid within one year and is therefore shown as such in these financial statements.