KP SOLICITORS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S M D Parrott

Mrs K Favill

REGISTERED OFFICE:

65 Chapel Street

Belper

Derbyshire

DE56 1AR

REGISTERED NUMBER:

09289730 (England and Wales)

ACCOUNTANTS:

Sibbalds Limited

Chartered Accountants and Business Advisers

Oakhurst House

57 Ashbourne Road

Derby

Derbyshire

DE22 3FS

FIXED ASSETS

Tangible assets

4

375,064

461,950

CURRENT ASSETS

Stocks

5,079

1,500

Debtors

5

88,421

79,030

Cash at bank and in hand

143,206

171,340

236,706

251,870

CREDITORS

Amounts falling due within one year

6

136,937

214,221

NET CURRENT ASSETS

99,769

37,649

TOTAL ASSETS LESS CURRENT LIABILITIES

474,833

499,599

CREDITORS

Amounts falling due after more than one year

7

(249,000

)

(249,000

)

PROVISIONS FOR LIABILITIES

10

(21,100

)

(22,300

)

NET ASSETS

204,733

228,299

CAPITAL AND RESERVES

Called up share capital

11

1,000

1,000

Retained earnings

203,733

227,299

SHAREHOLDERS' FUNDS

204,733

228,299

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

S M D Parrott - Director

1.	STATUTORY INFORMATION

KP Solicitors 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Freehold property

-

5% on cost and 2% on cost

Fixtures and fittings

-

25% on reducing balance

Freehold land is not depreciated.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 9 (2023 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST

At 1 January 2024

522,295

12,280

534,575

Additions

7,753

-

7,753

At 31 December 2024

530,048

12,280

542,328

DEPRECIATION

At 1 January 2024

67,099

5,526

72,625

Charge for year

14,476

1,690

16,166

Impairments

78,473

-

78,473

At 31 December 2024

160,048

7,216

167,264

NET BOOK VALUE

At 31 December 2024

370,000

5,064

375,064

At 31 December 2023

455,196

6,754

461,950

Included in cost of land and buildings is freehold land of £ 194,045 (2023 - £ 194,045 ) which is not depreciated.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as restated

£

£

Trade debtors

27,625

37,994

Other debtors

60,796

41,036

88,421

79,030

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as restated

£

£

Trade creditors

514

598

Taxation and social security

79,720

81,051

Other creditors

56,703

132,572

136,937

214,221

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

as restated

£

£

Bank loans

249,000

249,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

249,000

249,000

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

as restated

£

£

Within one year

949

-

Between one and five years

3,084

-

4,033

-

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

as restated

£

£

Bank loans

249,000

249,000

The bank loans are secured against the properties.

10.	PROVISIONS FOR LIABILITIES

2024

2023

as restated

£

£

Deferred tax

21,100

22,300

Deferred

tax

£

Balance at 1 January 2024

22,300

Provided during year

(1,200

)

Balance at 31 December 2024

21,100

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

as restated

£

£

1,000

Ordinary

£1

1,000

1,000