Company No: 07494487 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	40,333		41,502
		40,333		41,502
Current assets
Stocks	4	598,835		524,883
Debtors	5	3,218,588		3,150,842
Cash at bank and in hand		59,588		42,321
		3,877,011		3,718,046
Creditors: amounts falling due within one year	6	( 1,536,740)		( 1,897,088)
Net current assets		2,340,271		1,820,958
Total assets less current liabilities		2,380,604		1,862,460
Creditors: amounts falling due after more than one year	7	( 100,000)		( 275,000)
Provision for liabilities		( 1,235)		( 3,830)
Net assets		2,279,369		1,583,630
Capital and reserves
Called-up share capital		1		1
Profit and loss account		2,279,368		1,583,629
Total shareholder's funds		2,279,369		1,583,630

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of KDC Projects Limited (registered number: 07494487) were approved and authorised for issue by the Board of Directors on 10 September 2025. They were signed on its behalf by:

P Burden Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

KDC Projects Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Building 307 Aviation Park West, Bournemouth Airport, Christchurch, BH23 6NW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts. Income is recognised on a percentage of completion basis.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings

4 - 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Work in progress

Work in progress is measured at sales value based on the percentage of completion.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	47		42

3. Tangible assets

	Land and buildings		Total
	£		£
Cost
At 01 January 2024	107,187		107,187
Additions	12,532		12,532
At 31 December 2024	119,719		119,719
Accumulated depreciation
At 01 January 2024	65,685		65,685
Charge for the financial year	13,701		13,701
At 31 December 2024	79,386		79,386
Net book value
At 31 December 2024	40,333		40,333
At 31 December 2023	41,502		41,502

4. Stocks

	2024		2023
	£		£
Work in progress	598,835		524,883

5. Debtors

	2024		2023
	£		£
Trade debtors	2,455,702		2,631,742
Amounts owed by Group undertakings	0		2,965
Corporation tax	601,561		287,522
Other debtors	161,325		228,613
	3,218,588		3,150,842

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans and overdrafts (secured)	150,000		574,550
Trade creditors	391,501		355,806
Amounts owed to Group undertakings	19,883		13,615
Other taxation and social security	472,704		393,401
Other creditors	502,652		559,716
	1,536,740		1,897,088

The invoice discounting facility is secured against the assets of the business.

7. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans (secured)	100,000		275,000

A director has provided a personal guarantee and there is a cross company guarantee for the group in place.

8. Financial commitments

Commitments

	2024		2023
	£		£
Total future minimum lease payments under non-cancellable operating lease	800,181		944,552

9. Ultimate controlling party

Parent Company:

Kiwi Holdings Ltd