Registration number: NI655577

KRC Ecological Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

KRC Ecological Ltd

Company Information

Directors

Mr Kendrew Colhoun Mrs Elaine Colhoun

Registered office

33 Hilltown Road Newcastle Co Down BT33 0PZ

KRC Ecological Ltd

(Registration number: NI655577)
Balance Sheet as at 30 September 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	47,625	63,793
Current assets
Debtors	5	113,652	83,846
Cash at bank and in hand		7,661	3,209
		121,313	87,055
Creditors: Amounts falling due within one year		(143,606)	(125,090)
Net current liabilities		(22,293)	(38,035)
Total assets less current liabilities		25,332	25,758
Creditors: Amounts falling due after more than one year		(15,277)	(24,823)
Net assets		10,055	935
Capital and reserves
Called up share capital	8	100	100
Retained earnings		9,955	835
Shareholders' funds		10,055	935

For the financial year ending 30 September 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 September 2025 and signed on its behalf by:
 

......................................... Mr Kendrew Colhoun Director

KRC Ecological Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1	General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
33 Hilltown Road
Newcastle
Co Down
BT33 0PZ

These financial statements were authorised for issue by the Board on 22 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

KRC Ecological Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% straight line
Motor vehicle	20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

KRC Ecological Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

KRC Ecological Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4	Tangible assets

	Plant and machinery £	Total £
Cost or valuation
At 1 October 2023	107,782	107,782
Additions	10,296	10,296
At 30 September 2024	118,078	118,078
Depreciation
At 1 October 2023	43,989	43,989
Charge for the year	26,464	26,464
At 30 September 2024	70,453	70,453
Carrying amount
At 30 September 2024	47,625	47,625
At 30 September 2023	63,793	63,793

5

Debtors

	2024 £	2023 £
Trade debtors	18,792	11,376
Other debtors	94,860	72,470
	113,652	83,846

KRC Ecological Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Creditors

	Note	2024 £	2023 £
Due within one year
Bank loans and overdrafts	7	12,286	22,923
Trade creditors		30,183	31,883
Income tax liability		97,587	68,534
Other creditors		3,550	1,750
		143,606	125,090
Due after one year
Loans and borrowings	7	15,277	24,823