Company Registration No. NI685384 (Northern Ireland)
K2 Facades Ltd
Unaudited accounts
for the year ended 31 January 2025
K2 Facades Ltd
Company Information
for the year ended 31 January 2025
Directors
William Hobdey
Victoria Hobdey
Company Number
NI685384 (Northern Ireland)
Registered Office
34 KNOCKMOYLE DRIVE
ANTRIM
BT41 1HE
NORTHERN IRELAND
Accountants
DJB Accounting Ltd
34 Knockmoyle Drive
Greystone Road
Antrim
BT41 1HE
K2 Facades Ltd
Accountants' report
Accountants' report to the board of directors of K2 Facades Ltd on the preparation of the unaudited statutory accounts for the year ended 31 January 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
K2 Facades Ltd for the year ended
31 January 2025 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of K2 Facades Ltd, as a body, in accordance with the terms of our engagement letter dated 30 January 2022. Our work has been undertaken solely to prepare for your approval the accounts of K2 Facades Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than K2 Facades Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that K2 Facades Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of K2 Facades Ltd. You consider that K2 Facades Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of K2 Facades Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
DJB Accounting Ltd
34 Knockmoyle Drive
Greystone Road
Antrim
BT41 1HE
1 August 2025
K2 Facades Ltd
Statement of financial position
as at 31 January 2025
Tangible assets
87,430
48,914
Cash at bank and in hand
22,128
5,916
Creditors: amounts falling due within one year
(104,146)
(82,445)
Net current liabilities
(2,932)
(48,912)
Called up share capital
2
2
Profit and loss account
84,496
-
Shareholders' funds
84,498
2
For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2025 and were signed on its behalf by
William Hobdey
Director
Company Registration No. NI685384
K2 Facades Ltd
Notes to the Accounts
for the year ended 31 January 2025
K2 Facades Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI685384. The registered office is 34 KNOCKMOYLE DRIVE, ANTRIM, BT41 1HE, NORTHERN IRELAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. 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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Depreciated over 3 years, straight line
Motor vehicles
20% straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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 accounts. 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 current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
K2 Facades Ltd
Notes to the Accounts
for the year ended 31 January 2025
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors shall continue to adopt the going concern basis of accounting in preparing the financial statements.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 February 2024
935
53,683
54,618
Additions
36,411
27,510
63,921
At 31 January 2025
37,346
81,193
118,539
At 1 February 2024
598
5,106
5,704
Charge for the year
4,525
20,880
25,405
At 31 January 2025
5,123
25,986
31,109
At 31 January 2025
32,223
55,207
87,430
At 31 January 2024
337
48,577
48,914
Amounts falling due within one year
Trade debtors
26,906
1,324
Other debtors
55,697
25,771
K2 Facades Ltd
Notes to the Accounts
for the year ended 31 January 2025
6
Creditors: amounts falling due within one year
2025
2024
Obligations under finance leases and hire purchase contracts
84,465
41,380
Taxes and social security
12,408
13,906
Loans from directors
6,879
24,972
7
Average number of employees
During the year the average number of employees was 2 (2024: 2).