Registration number: 08966544

KP Construction (Cornwall) Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 9

KP Construction (Cornwall) Limited

Company Information

Directors

Mr K Penrose Mrs F Penrose

Registered office

Gwel an Koos Fore Street Barripper Camborne Cornwall United Kingdom TR14 0QR

KP Construction (Cornwall) Limited

(Registration number: 08966544)
Balance Sheet as at 31 March 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	48,777	42,766
Current assets
Stocks	5	714,809	1,690,000
Debtors	6	46,018	24,260
Cash at bank and in hand		21,713	31,650
		782,540	1,745,910
Creditors: Amounts falling due within one year	7	(162,153)	(1,348,027)
Net current assets		620,387	397,883
Total assets less current liabilities		669,164	440,649
Creditors: Amounts falling due after more than one year	7	-	(3,334)
Provisions for liabilities		(12,195)	(10,692)
Net assets		656,969	426,623
Capital and reserves
Called up share capital	8	100	100
Retained earnings		656,869	426,523
Shareholders' funds		656,969	426,623

For the financial year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

KP Construction (Cornwall) Limited

(Registration number: 08966544)
Balance Sheet as at 31 March 2026

Approved and authorised by the Board on 22 July 2026 and signed on its behalf by:
 

Mr K Penrose

Director

Mrs F Penrose

Director

KP Construction (Cornwall) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Gwel an Koos
Fore Street
Barripper
Camborne
Cornwall
TR14 0QR
United Kingdom

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

KP Construction (Cornwall) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible 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

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant & Machinery	25% reducing balance
Motor Vehicles	25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

KP Construction (Cornwall) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2025 - 2).

KP Construction (Cornwall) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

4	Tangible assets

	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2025	112,960	22,612	135,572
Additions	22,269	-	22,269
At 31 March 2026	135,229	22,612	157,841
Depreciation
At 1 April 2025	75,560	17,246	92,806
Charge for the year	14,917	1,341	16,258
At 31 March 2026	90,477	18,587	109,064
Carrying amount
At 31 March 2026	44,752	4,025	48,777
At 31 March 2025	37,400	5,366	42,766

5

Stocks

	2026 £	2025 £
Work in progress	311,417	-
Other inventories	403,392	1,690,000
	714,809	1,690,000

6

Debtors

Current	2026 £	2025 £
Other debtors	46,018	24,260
	46,018	24,260

KP Construction (Cornwall) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

7

Creditors

Creditors: amounts falling due within one year

	Note	2026 £	2025 £
Due within one year
Loans and borrowings	9	3,334	1,040,365
Trade creditors		35,992	38,406
Taxation and social security		86,308	28,295
Accruals and deferred income		3,500	4,098
Other creditors		33,019	236,863
		162,153	1,348,027

Creditors: amounts falling due after more than one year

	Note	2026 £	2025 £
Due after one year
Loans and borrowings	9	-	3,334

8	Share capital

Allotted, called up and fully paid shares

	2026		2025
	No.	£	No.	£
Ordinary Shares of £1 each	100	100	100	100

9	Loans and borrowings

Non-current loans and borrowings

	2026 £	2025 £
Bank borrowings	-	3,334

Current loans and borrowings

	2026 £	2025 £
Bank borrowings	3,334	1,040,365

KP Construction (Cornwall) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

10	Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

	2026 £	2025 £
Remuneration	12,570	12,570