REGISTERED NUMBER: 08771384 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

KLF Developments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C D O Falla

K Falla

J D Falla

REGISTERED OFFICE:

Maple Lodge

Blake Dene Road, Poole

Dorset

BH14 8HQ

REGISTERED NUMBER:

08771384 (England and Wales)

ACCOUNTANTS:

Verinder Powell Associates Ltd

Suite 5 Corum 2

Corum Office Park

Crown Way

Warmley

Bristol

BS30 8FJ

FIXED ASSETS

Tangible assets

4

88,424

67,944

Investments

5

300

400

88,724

68,344

CURRENT ASSETS

Stocks

1,253,454

4,945,482

Debtors

6

2,339,106

1,636,151

Cash at bank

448,104

181,275

4,040,664

6,762,908

CREDITORS

Amounts falling due within one year

7

2,845,740

6,069,083

NET CURRENT ASSETS

1,194,924

693,825

TOTAL ASSETS LESS CURRENT LIABILITIES

1,283,648

762,169

CREDITORS

Amounts falling due after more than one year

8

(83,162

)

(73,494

)

PROVISIONS FOR LIABILITIES

(4,000

)

-

NET ASSETS

1,196,486

688,675

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

1,196,286

688,475

1,196,486

688,675

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2025 and were signed on its behalf by:

C D O Falla - Director

1.	STATUTORY INFORMATION

KLF Developments 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 Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

There have been no material departures from the Financial Reporting Standard 102 1A.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group 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.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the property development of the business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of properties are recognised at the date of completion with all associated costs being recognised within work in progress so that the profit is realised at the date of completion.

Tangible fixed 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 is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

- 25% on reducing balance

Fixtures and fittings

- 25% on reducing balance

Motor vehicles

- 25% on reducing balance

Computer equipment

- 25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to net realisable value.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the 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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

7,716

7,730

91,468

5,017

111,931

Additions

-

-

44,330

2,606

46,936

Disposals

-

-

(20,079

)

-

(20,079

)

At 31 March 2025

7,716

7,730

115,719

7,623

138,788

DEPRECIATION

At 1 April 2024

6,473

5,612

29,211

2,691

43,987

Charge for year

311

529

22,165

1,441

24,446

Eliminated on disposal

-

-

(18,069

)

-

(18,069

)

At 31 March 2025

6,784

6,141

33,307

4,132

50,364

NET BOOK VALUE

At 31 March 2025

932

1,589

82,412

3,491

88,424

At 31 March 2024

1,243

2,118

62,257

2,326

67,944

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertaking

£

COST

At 1 April 2024

400

Disposals

(100

)

At 31 March 2025

300

NET BOOK VALUE

At 31 March 2025

300

At 31 March 2024

400

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Amounts owed by group undertakings

2,207,678

1,456,250

Other debtors

131,428

179,901

2,339,106

1,636,151

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

6,251

3,071,703

Hire purchase contracts

14,678

10,508

Trade creditors

269,225

308,765

Amounts owed to group undertakings

-

975

Taxation and social security

15,907

12,753

Other creditors

2,539,679

2,664,379

2,845,740

6,069,083

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

23,758

29,147

Hire purchase contracts

59,404

44,347

83,162

73,494

Included in bank loans in notes 8 and 9 is a combined balance of £29,976 (2024 - £35,365) which is guaranteed by the government and unsecured.

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

-

3,065,485

Hire purchase contracts

74,082

54,855

74,082

3,120,340

The bank loans contain fixed and floating charges against the assets of the company.

Obligations under hire purchase contracts are secured on the assets to which they relate.

10.	PENSION COMMITMENTS

The entity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the entity in an independently administered fund. Contributions totalling £358 (2024 - £192) were payable to the fund at the reporting date.

11.	OFF BALANCE SHEET COMMITMENTS

At the year end the company had future minimum lease payments due under non-cancellable operating and finance leases totalling £10,948 (2024 - £17,850). The finance leases are secured over the assets to which they relate.

12.	RELATED PARTY DISCLOSURES

Loans from related parties

Key management

Other related parties

Total

2025

£

£

£

At start of period

367,992

1,755,129

2,123,121

Advanced

128,711

289,804

418,515

Repaid

(247,830

)

(354,864

)

(602,694

)

At end of period

248,873

1,690,069

1,938,942

Key management

Other related parties

Total

2024

£

£

£

At start of period

398,469

1,635,527

2,033,996

Advanced

131,672

223,055

354,727

Repaid

(162,149

)

(103,453

)

(265,602

)

At end of period

367,992

1,755,129

2,123,121

Loans from key management are interest free and repayable on demand.

Loans from other related parties have interest applied at the rate agreed upon within each individual loan agreement. These loans are repayable on demand.

Loans to related parties

Key management

Total

2025

£

£

At start of period

-

-

Advanced

32,153

32,153

Repaid

-

-

At end of period

32,153

32,153

Key management

Total

2024

£

£

At start of period

-

-

Advanced

-

-

Repaid

-

-

At end of period

-

-

Loans to key management are repayable on demand and interest is charged at the HMRC prevailing rate on loan balances that exceed £10,000.