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REGISTERED NUMBER: 07810519 (England and Wales)















Report of the Director and

Unaudited Consolidated Financial Statements

for the Period 1 October 2023 to 31 December 2024

for

KPFF Limited

KPFF Limited (Registered number: 07810519)






Contents of the Consolidated Financial Statements
for the Period 1 October 2023 to 31 December 2024




Page

Company Information 1

Report of the Director 2

Report of the Accountants 4

Consolidated Income Statement 5

Consolidated Balance Sheet 6

Company Balance Sheet 8

Notes to the Consolidated Financial Statements 10


KPFF Limited

Company Information
for the Period 1 October 2023 to 31 December 2024







DIRECTOR: N G Davis





REGISTERED OFFICE: Units 3-6 Valley Business Park,
Valley Road
Birkenhead
CH41 7ED





REGISTERED NUMBER: 07810519 (England and Wales)





ACCOUNTANTS: The Hampden Partnership Limited
Suite 102
No.1 Old Hall Street
Liverpool
Merseyside
L3 9HF

KPFF Limited (Registered number: 07810519)

Report of the Director
for the Period 1 October 2023 to 31 December 2024

The director presents his report with the financial statements of the company and the group for the period 1 October 2023 to 31 December 2024.

REVIEW OF BUSINESS
The group's principal activities during the period continued to be the procurement, production and sale of frozen food products.

The fifteen months to 31 December 2024 was a very significant period for KPFF Limited, as the business increase its turnover from £5,344,346 for 9 months ending 30th Sept 2023 to £11,979,373 for 15 months ending 31st December 2024.

The business now has two main focus points:

One of the key focus points this financial year was to utilise any surplus capacity at the facilities in Birkenhead by providing a logistics service to key customers, generating revenue from storage and handling of £710k during the period to 31st December 2024. The warehouse and coldstore is now at full capacity and continues to receive £20k per week from its logistics services with long-term contracts already agreed for both the Coldstore and Dry warehouse.

The second point of focus is to supply some of our 180 frozen products into as many independent accounts as possible. As of December 2024, the business is supplying into over 3,000 stores, some direct and others through retailers central distribution networks or independent frozen wholesalers. The current customer base consists of: Nisa, Booker, Bestway / Batleys, Parfett's, Premier, Costcutter, Londis, Go Local, Budgens, Farmfoods, Poundland, Spar Depots (Blakemore's, James Hall & CJ Lang), Butchers, Farm Shops, Factory Shops, Independent Discounters, etc..) with the possibility of supplying to over 20,000 independents as part of the ultimate business strategy. Of the 180 frozen products we supply 40 are produced by other manufacturers around the world (China, Belgium, France, Germany, UK and Ireland) under our brands and distributed through our distribution center in Birkenhead.

New product development is key to the growth and development of KPFF and this year saw the introduction of the UK's first range of Air fryer Meals. These meals are now available in over 2,000 stores and are currently selling over 25,000 meals per week which is expected to reach to over 50,000 meals per week within the next six months.

As we have capacity to pack over half a million packs per week, we also Co-pack frozen products for some large Frozen Food Wholesalers for both the retail and foodservice markets.

Our strategy for 2025 is simple. Keep improving the range of products packed in our facility in Birkenhead and product packed under our brands by other manufacturers around the world. In addition to this we will continue to open more accounts and increase distribution.

DIRECTOR
N G Davis held office during the whole of the period from 1 October 2023 to the date of this report.


KPFF Limited (Registered number: 07810519)

Report of the Director
for the Period 1 October 2023 to 31 December 2024

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

- select suitable accounting policies and then 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 director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





N G Davis - Director


24 January 2025

KPFF Limited

Report of the Accountants to the Director of
KPFF Limited


As described on the Balance Sheet you are responsible for the preparation of the financial statements for the period ended 31 December 2024 set out on pages five to seventeen and you consider that the company and the group are exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






The Hampden Partnership Limited
Suite 102
No.1 Old Hall Street
Liverpool
Merseyside
L3 9HF


24 January 2025

KPFF Limited (Registered number: 07810519)

Consolidated Income Statement
for the Period 1 October 2023 to 31 December 2024

Period Period
1.10.23 1.1.23
to to
31.12.24 30.9.23
as restated
Notes £    £   

TURNOVER 11,320,034 5,344,346

Cost of sales 8,272,707 4,492,865
GROSS PROFIT 3,047,327 851,481

Administrative expenses 2,567,814 1,775,283
479,513 (923,802 )

Other operating income 21,799 723,524
OPERATING PROFIT/(LOSS) 4 501,312 (200,278 )

Profit/loss on sale of invest 5 - 242,640
501,312 (442,918 )

Interest receivable and similar
income

309

93
501,621 (442,825 )

Interest payable and similar
expenses

34,925

16,190
PROFIT/(LOSS) BEFORE TAXATION 466,696 (459,015 )

Tax on profit/(loss) (29,668 ) (337,411 )
PROFIT/(LOSS) FOR THE
FINANCIAL PERIOD

496,364

(121,604

)

Profit/(loss) attributable to:
Owners of the parent 496,364 (121,604 )

KPFF Limited (Registered number: 07810519)

Consolidated Balance Sheet
31 December 2024

31.12.24 30.9.23
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 8 972,440 593,840
Tangible assets 9 779,754 868,630
Investments 10 10,241 10,241
1,762,435 1,472,711

CURRENT ASSETS
Stocks 2,282,735 1,310,768
Debtors 11 1,030,415 876,255
Cash at bank and in hand 51,174 151,133
3,364,324 2,338,156
CREDITORS
Amounts falling due within one year 12 2,599,339 2,173,509
NET CURRENT ASSETS 764,985 164,647
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,527,420

1,637,358

CREDITORS
Amounts falling due after more than
one year

13

(403,634

)

(133,326

)

PROVISIONS FOR LIABILITIES (257,640 ) (134,250 )
NET ASSETS 1,866,146 1,369,782

KPFF Limited (Registered number: 07810519)

Consolidated Balance Sheet - continued
31 December 2024

31.12.24 30.9.23
as restated
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 1,195,303 1,195,303
Retained earnings 670,843 174,479
1,866,146 1,369,782

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2024.

The members have not required the company and the group to obtain an audit of its financial statements for the period ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a) ensuring that the group keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the company and the group as at the end of each financial year and of the group's profit or loss for each 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 and the group.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 24 January 2025 and were signed by:





N G Davis - Director


KPFF Limited (Registered number: 07810519)

Company Balance Sheet
31 December 2024

31.12.24 30.9.23
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 8 972,440 593,840
Tangible assets 9 775,124 858,378
Investments 10 10,241 10,241
1,757,805 1,462,459

CURRENT ASSETS
Stocks 2,183,855 1,211,888
Debtors 11 1,150,151 1,127,088
Cash at bank and in hand 49,356 150,194
3,383,362 2,489,170
CREDITORS
Amounts falling due within one year 12 2,593,242 2,171,475
NET CURRENT ASSETS 790,120 317,695
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,547,925

1,780,154

CREDITORS
Amounts falling due after more than
one year

13

(403,634

)

(133,326

)

PROVISIONS FOR LIABILITIES (257,640 ) (134,250 )
NET ASSETS 1,886,651 1,512,578

KPFF Limited (Registered number: 07810519)

Company Balance Sheet - continued
31 December 2024

31.12.24 30.9.23
as restated
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 1,193,802 1,193,802
Retained earnings 692,849 318,776
1,886,651 1,512,578

Company's profit/(loss) for the
financial year

374,073

(357,313

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 24 January 2025 and were signed by:





N G Davis - Director


KPFF Limited (Registered number: 07810519)

Notes to the Consolidated Financial Statements
for the Period 1 October 2023 to 31 December 2024

1. STATUTORY INFORMATION

KPFF Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and Amortised over period of lease

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


KPFF Limited (Registered number: 07810519)

Notes to the Consolidated Financial Statements - continued
for the Period 1 October 2023 to 31 December 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of the stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 65 (2023 - 50 ) .

The average number of employees by undertakings that were proportionately consolidated during the period was 11 (2023 - 10 ) .

KPFF Limited (Registered number: 07810519)

Notes to the Consolidated Financial Statements - continued
for the Period 1 October 2023 to 31 December 2024

4. OPERATING PROFIT/(LOSS)

The operating profit (2023 - operating loss) is stated after charging:

Period Period
1.10.23 1.1.23
to to
31.12.24 30.9.23
as restated
£    £   
Depreciation - owned assets 213,313 286,225
Development costs amortisation 89,978 54,000

5. EXCEPTIONAL ITEMS
Period Period
1.10.23 1.1.23
to to
31.12.24 30.9.23
as restated
£    £   
Profit/loss on sale of invest - (242,640 )

The exceptional item is the non-recurring expenditure in relation to closed stores including rent, rates and energy costs.

In 2022 the group disposed of a number of retail stores as part of a change of strategy to focus on wholesale and distribution. The fixed assets from the stores were disposed of and a loss on the carrying amount of the assets was recognised.

6. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


7. PRIOR YEAR ADJUSTMENT

During the year the management team reviewed the carrying value of assets and found the following:-

Land and Buildings previously depreciated over three years whereas lease is for ten years
Depreciation not charged in 2023 (53,422)
Depreciation overcharged in 2022 458,623

Stock
Stocks at 30 September 2023 overvalued (167,936)

Accruals
Rates accrual at 30 September 2023 understated 19,542

KPFF Limited (Registered number: 07810519)

Notes to the Consolidated Financial Statements - continued
for the Period 1 October 2023 to 31 December 2024

8. INTANGIBLE FIXED ASSETS

Group
Other
intangible
assets
£   
COST
At 1 October 2023 719,822
Additions 468,578
At 31 December 2024 1,188,400
AMORTISATION
At 1 October 2023 125,982
Charge for period 89,978
At 31 December 2024 215,960
NET BOOK VALUE
At 31 December 2024 972,440
At 30 September 2023 593,840

Company
Other
intangible
assets
£   
COST
At 1 October 2023 719,822
Additions 468,578
At 31 December 2024 1,188,400
AMORTISATION
At 1 October 2023 125,982
Charge for period 89,978
At 31 December 2024 215,960
NET BOOK VALUE
At 31 December 2024 972,440
At 30 September 2023 593,840

KPFF Limited (Registered number: 07810519)

Notes to the Consolidated Financial Statements - continued
for the Period 1 October 2023 to 31 December 2024

9. TANGIBLE FIXED ASSETS

Group
Plant and
machinery
etc
£   
COST
At 1 October 2023 2,575,204
Additions 168,224
Disposals (216,035 )
At 31 December 2024 2,527,393
DEPRECIATION
At 1 October 2023 1,706,574
Charge for period 213,313
Eliminated on disposal (172,248 )
At 31 December 2024 1,747,639
NET BOOK VALUE
At 31 December 2024 779,754
At 30 September 2023 868,630

Company
Plant and
machinery
etc
£   
COST
At 1 October 2023 2,550,952
Additions 168,223
Disposals (216,035 )
At 31 December 2024 2,503,140
DEPRECIATION
At 1 October 2023 1,692,574
Charge for period 207,690
Eliminated on disposal (172,248 )
At 31 December 2024 1,728,016
NET BOOK VALUE
At 31 December 2024 775,124
At 30 September 2023 858,378

KPFF Limited (Registered number: 07810519)

Notes to the Consolidated Financial Statements - continued
for the Period 1 October 2023 to 31 December 2024

10. FIXED ASSET INVESTMENTS

Group
Shares in
group
undertakings
£   
COST
At 1 October 2023
and 31 December 2024 10,241
NET BOOK VALUE
At 31 December 2024 10,241
At 30 September 2023 10,241
Company
Shares in
group
undertakings
£   
COST
At 1 October 2023
and 31 December 2024 10,241
NET BOOK VALUE
At 31 December 2024 10,241
At 30 September 2023 10,241

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Oops! Clearance Limited
Registered office: United Kingdom
Nature of business: Retail Outlet
%
Class of shares: holding
Ordinary Shares 100.00

Wm Kellett (Formby) Limited
Registered office: United Kingdom
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00


KPFF Limited (Registered number: 07810519)

Notes to the Consolidated Financial Statements - continued
for the Period 1 October 2023 to 31 December 2024

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.12.24 30.9.23 31.12.24 30.9.23
as
restated
as
restated
£    £    £    £   
Trade debtors 657,257 264,895 657,257 264,895
Amounts owed by group undertakings - - 135,169 247,754
Other debtors 373,158 611,360 357,725 614,439
1,030,415 876,255 1,150,151 1,127,088

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.12.24 30.9.23 31.12.24 30.9.23
as
restated
as
restated
£    £    £    £   
Bank loans and overdrafts 105,416 142,994 105,416 142,994
Hire purchase contracts 31,533 22,451 31,533 22,451
Trade creditors 1,805,807 1,268,456 1,805,808 1,268,455
Amounts owed to associates 18,195 18,195 18,195 18,195
Taxation and social security 33,022 28,391 30,964 27,746
Other creditors 605,366 693,022 601,326 691,634
2,599,339 2,173,509 2,593,242 2,171,475

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

Group Company
31.12.24 30.9.23 31.12.24 30.9.23
as
restated
as
restated
£    £    £    £   
Bank loans - 133,326 - 133,326
Hire purchase contracts 35,644 - 35,644 -
Other creditors 367,990 - 367,990 -
403,634 133,326 403,634 133,326

KPFF Limited (Registered number: 07810519)

Notes to the Consolidated Financial Statements - continued
for the Period 1 October 2023 to 31 December 2024

14. SECURED DEBTS

The following secured debts are included within creditors:

Group Company
31.12.24 30.9.23 31.12.24 30.9.23
as
restated
as
restated
£    £    £    £   
Hire purchase contracts 67,177 22,451 67,177 22,451
Bank loans 114,327 276,320 114,327 276,320
181,504 298,771 181,504 298,771

The bank loan is secured by a fixed and floating charge over the assets of the company and the hire purchase creditor by a charge over the relevant assets.