Company Registration No. NI627706 (Northern Ireland)
KPP Developments Ltd
Unaudited accounts
for the year ended 31 December 2024
KPP Developments Ltd
Unaudited accounts
Contents
KPP Developments Ltd
Statement of financial position
as at 31 December 2024
Tangible assets
93,164
60,944
Inventories
709,406
738,321
Cash at bank and in hand
1,306,057
495,049
Creditors: amounts falling due within one year
(135,210)
(147,021)
Net current assets
1,881,471
1,086,349
Total assets less current liabilities
1,974,635
1,147,293
Creditors: amounts falling due after more than one year
(1,530,414)
(772,952)
Net assets
444,221
374,341
Called up share capital
100
100
Profit and loss account
444,121
374,241
Shareholders' funds
444,221
374,341
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and authorised for issue on 30 September 2025 and were signed on its behalf by
Padraig Cunningham
Director
Company Registration No. NI627706
KPP Developments Ltd
Notes to the Accounts
for the year ended 31 December 2024
KPP Developments Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI627706. The registered office is 4 WOODBROOK PARK, WARRENPOINT, NEWRY, BT34 3HL, 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:
Land & buildings
5% Straight Line
Fixtures & fittings
25% Reducing Balance
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.
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.
KPP Developments Ltd
Notes to the Accounts
for the year ended 31 December 2024
4
Tangible fixed assets
Land & buildings
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 January 2024
41,026
106,406
147,432
At 31 December 2024
41,026
163,525
204,551
At 1 January 2024
14,358
72,130
86,488
Charge for the year
2,051
22,848
24,899
At 31 December 2024
16,409
94,978
111,387
At 31 December 2024
24,617
68,547
93,164
At 31 December 2023
26,668
34,276
60,944
Finished goods
709,406
738,321
The carrying amount of stocks includes £627,124 (2023: £652,837) of development land held for sale at 31 December 2024.
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
10,644
10,644
Trade creditors
62,801
60,572
Taxes and social security
15,603
24,021
Loans from directors
31,408
36,121
8
Creditors: amounts falling due after more than one year
2024
2023
Amounts owed to group undertakings and other participating interests
1,224,721
457,021
Loans from directors
300,000
300,000
KPP Developments Ltd
Notes to the Accounts
for the year ended 31 December 2024
9
Average number of employees
During the year the average number of employees was 12 (2023: 12).