| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2024 |
| for |
| KIPP K Ltd |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2024 |
| for |
| KIPP K Ltd |
| KIPP K Ltd (Registered number: 14556252) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| KIPP K Ltd |
| Company Information |
| for the Year Ended 31 December 2024 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 140 Coniscliffe Road |
| DARLINGTON |
| Co Durham |
| DL3 7RT |
| KIPP K Ltd (Registered number: 14556252) |
| Balance Sheet |
| 31 December 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| FIXED ASSETS |
| Investments | 4 |
| CURRENT ASSETS |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 5 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 6 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Fair value reserve | 8 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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 were approved by the director and authorised for issue on |
| KIPP K Ltd (Registered number: 14556252) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2024 |
| 1. | STATUTORY INFORMATION |
| KIPP K Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
| There were no material departures from that standard. |
| 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. |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group nor transactions conducted at a market rate. |
| Financial instruments |
| Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
| 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 year 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. |
| Income recognition |
| The company recognises dividends and other investment income when the company's right to receive the payment is established. |
| Investments |
| Shares in participating interests are held at cost, less provision for impairment. Impairment losses are recognised in profit and loss. |
| Investments in quoted companies and investment portfolios are held at fair value. Changes in fair value are recognised in the profit and loss account. |
| KIPP K Ltd (Registered number: 14556252) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| 4. | FIXED ASSET INVESTMENTS |
| Interest |
| in | Other |
| associate | investments | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 January 2024 | 26,640,837 |
| Additions | 506,512 |
| Revaluations | 409,364 |
| At 31 December 2024 | 27,556,713 |
| NET BOOK VALUE |
| At 31 December 2024 | 27,556,713 |
| At 31 December 2023 | 26,640,837 |
| Cost or valuation at 31 December 2024 is represented by: |
| Interest |
| in | Other |
| associate | investments | Totals |
| £ | £ | £ |
| Valuation in 2023 | - | 70,551 | 70,551 |
| Valuation in 2024 | - | 409,364 | 409,364 |
| Cost | 25,547,295 | 1,529,503 | 27,076,798 |
| 25,547,295 | 2,009,418 | 27,556,713 |
| Other investments in quoted shares and portfolio holdings are held at fair value. |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Directors' current accounts | 168,696 | - |
| Accruals and deferred income |
| 6. | PROVISIONS FOR LIABILITIES |
| 2024 | 2023 |
| £ | £ |
| Deferred tax | 119,979 | 17,638 |
| KIPP K Ltd (Registered number: 14556252) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 6. | PROVISIONS FOR LIABILITIES - continued |
| Deferred |
| tax |
| £ |
| Balance at 1 January 2024 |
| Fair value movement | 102,341 |
| Balance at 31 December 2024 |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | £0.01 | 25,547,395 | 25,547,395 |
| 8. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| At 1 January 2024 |
| Fair value adjustment of investments | 409,364 |
| Deferred tax on fair value adjustment | (102,341 | ) |
| At 31 December 2024 |
| The fair value reserve is made up of accumulated fair value adjustments and associated deferred tax movements. |
| 9. | RELATED PARTY DISCLOSURES |
| Included in other creditors is loan from the director, no interest has been charged and there are no set repayment terms. |