Company registration number 02417276 (England and Wales)
KINGFIELD DEVELOPMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
KINGFIELD DEVELOPMENTS LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 7
KINGFIELD DEVELOPMENTS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
18,584
31,595
Current assets
Stocks
29,243
-
Debtors
5
202,906
166,014
Cash at bank and in hand
235,589
237,155
467,738
403,169
Creditors: amounts falling due within one year
6
(81,005)
(21,540)
Net current assets
386,733
381,629
Total assets less current liabilities
405,317
413,224
Provisions for liabilities
(4,646)
(7,899)
Net assets
400,671
405,325
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
400,571
405,225
Total equity
400,671
405,325

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 6 November 2025 and are signed on its behalf by:
Mr M G Dickinson
Director
Company Registration No. 02417276
KINGFIELD DEVELOPMENTS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 April 2023
100
567,486
567,586
Year ended 31 March 2024:
Loss and total comprehensive income for the year
-
(82,261)
(82,261)
Dividends
-
(80,000)
(80,000)
Balance at 31 March 2024
100
405,225
405,325
Year ended 31 March 2025:
Profit and total comprehensive income for the year
-
75,346
75,346
Dividends
-
(80,000)
(80,000)
Balance at 31 March 2025
100
400,571
400,671
KINGFIELD DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information

Kingfield Developments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6 Serpentine Road, Hartlepool, United Kingdom, TS26 8DD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of 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.

Revenue from contracts for the provision of services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recover ed.

1.3
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
between 3-10 years straight line
Motor vehicles
4 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

KINGFIELD DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
1.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank overdrafts and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

KINGFIELD DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
3
3
KINGFIELD DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2024 and 31 March 2025
60,000
Amortisation and impairment
At 1 April 2024 and 31 March 2025
60,000
Carrying amount
At 31 March 2025
-
0
At 31 March 2024
-
0
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2024 and 31 March 2025
63,967
Depreciation and impairment
At 1 April 2024
32,372
Depreciation charged in the year
13,011
At 31 March 2025
45,383
Carrying amount
At 31 March 2025
18,584
At 31 March 2024
31,595
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
3,330
-
0
Corporation tax recoverable
14,467
16,913
Other debtors
185,109
149,101
202,906
166,014
KINGFIELD DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
13,249
1,219
Corporation tax
23,284
-
0
Other taxation and social security
36,343
2,036
Other creditors
8,129
18,285
81,005
21,540
7
Related party transactions

At the year end the company was owed £149,101 (2024 - £149,101) to a company under company control.

8
Directors' transactions

Dividends totalling £80,000 (2024 - £80,000) were paid in the year in respect of shares held by the company's directors.

2025-03-31 2024-04-01 false false false 06 November 2025 CCH Software CCH Accounts Production 2025.300 No description of principal activity Mr M G Dickinson Mrs J Dickinson 02417276 2024-04-01 2025-03-31 02417276 2025-03-31 02417276 2024-03-31 02417276 core:OtherPropertyPlantEquipment 2025-03-31 02417276 core:OtherPropertyPlantEquipment 2024-03-31 02417276 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 02417276 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 02417276 core:CurrentFinancialInstruments 2025-03-31 02417276 core:CurrentFinancialInstruments 2024-03-31 02417276 core:ShareCapital 2025-03-31 02417276 core:ShareCapital 2024-03-31 02417276 core:RetainedEarningsAccumulatedLosses 2025-03-31 02417276 core:RetainedEarningsAccumulatedLosses 2024-03-31 02417276 core:ShareCapital 2023-03-31 02417276 core:RetainedEarningsAccumulatedLosses 2023-03-31 02417276 bus:Director1 2024-04-01 2025-03-31 02417276 core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 02417276 2023-04-01 2024-03-31 02417276 core:RetainedEarningsAccumulatedLosses 2024-04-01 2025-03-31 02417276 core:PlantMachinery 2024-04-01 2025-03-31 02417276 core:MotorVehicles 2024-04-01 2025-03-31 02417276 core:NetGoodwill 2024-03-31 02417276 core:NetGoodwill 2025-03-31 02417276 core:NetGoodwill 2024-03-31 02417276 core:OtherPropertyPlantEquipment 2024-03-31 02417276 core:OtherPropertyPlantEquipment 2024-04-01 2025-03-31 02417276 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 02417276 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 02417276 bus:FRS102 2024-04-01 2025-03-31 02417276 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 02417276 bus:Director2 2024-04-01 2025-03-31 02417276 bus:FullAccounts 2024-04-01 2025-03-31 xbrli:pure xbrli:shares iso4217:GBP