Registration number:
NKP Holdings (N.I.) Ltd
for the Year Ended 30 November 2025
NKP Holdings (N.I.) Ltd
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Independent Auditor's Report |
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Consolidated Profit and Loss Account |
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Consolidated Statement of Comprehensive Income |
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Consolidated Balance Sheet |
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Balance Sheet |
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Consolidated Statement of Changes in Equity |
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Statement of Changes in Equity |
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Consolidated Statement of Cash Flows |
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Statement of Cash Flows |
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Notes to the Financial Statements |
NKP Holdings (N.I.) Ltd
Company Information
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Directors |
Mr A.D.N. Patton Mrs K. Patton |
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Registered office |
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Solicitors |
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Auditors |
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NKP Holdings (N.I.) Ltd
Strategic Report for the Year Ended 30 November 2025
The directors present their strategic report for the year ended 30 November 2025.
Principal activity
The principal activity of the group is a fitting out service in various sectors supported by their specialist joinery manufacturing unit.
Fair review of the business
The directors report an decrease in turnover of 8.9% compared to the previous year. Gross margin was down compared to the previous year at 12.6% (2024 - 14.53%).
The group can report a profit before tax of £1,284,685 (2024 - £3,345,200). The results for the year and the financial position at the year end were considered satisfactory by the directors.
The company's key financial and other performance indicators during the year were as follows:
|
Financial KPIs |
Unit |
2025 |
2024 |
|
Turnover |
£ |
40,485,113 |
44,446,023 |
|
Turnover growth |
% |
(9) |
10 |
|
Gross profit margin |
% |
13 |
15 |
|
Profit/(Loss) before tax |
£ |
1,284,685 |
3,345,200 |
Principal risks and uncertanties
NKP Holdings (N.I.) Ltd
Strategic Report for the Year Ended 30 November 2025
Following a positive financial outcome at Y/E November 2024, the Group had a slower than anticipated Qtr 1 in 2025 with a number of secured projects paused or deferred. This in turn resulted in budget adjustments taking place in both Qtr 1 and 2 but was mitigated to an extent, with a strong and positive finish to the year.
The Directors recognise that effective risk management is essential to the delivery of the Group’s strategic objectives. As the Group operates in the interior fit-out and broader construction sector it is exposed to a number of operational and financial risks. Risk consideration centres around client profile, type of contract, geography and supply chain. Sufficient time is set aside at monthly board meetings to review and update the Group's risk register.
During the year the Group completed a number of successful projects for a leading hospitalility organisation which included a significant bespoke joinery element.
Despite the recent rise in shop price inflation and the broader pressure on household finances, the Group remains confident that certain strategically located leisure venues will still be delivered in 2026.
The Group continue to robustly manage their regulatory and compliance matters ranging from a comprehensive Safety, Health, Environment, and Quality policy to FSC ( Forest Stewardship Council) and ESG ( Environmental, Social and Governance ) policy. It is particularly pleasing to report that for a second year running the Group achieved platinum level (described as Top Performer),in the 2025 NI Environmental Benchmarking Survey.
Effective cash management is key in a fast moving sector. This enables the business to pay our supply chain well within standard industry terms. The Group ended the year with a strong net cash position.
Staff retention has been a key part of the Group’s success. We continue to ensure we offer attractive and competitive remuneration packages at all levels and we are particularly pleased that our long standing tradition of apprenticeship training is now paying dividends.
During 2025, we saw a 30% increase in apprenticeship opportunities. Testament to the Group’s strong link with regional colleges was that two year three trainees qualified for the final of SkillBuild NI 2025 competition.
The Group has held Investors in People accreditation, an internationally recognised accreditation for people management and employee wellbeing since 2008.
Our senior management team has set a clear pathway leading to reaccreditation by the end of 2026.
Recent events, in particular the Iran war are likely to have a significant impact on Britain’s economy which is anticipated to be felt in many sectors with rising energy costs and general cost of living pressures. These activities, following on from the previous Budget announcements - which included an increase in employer National Insurance contributions in 2024 and the more recent increase in the national living wage - have all led to a higher payroll cost. This, coupled with general building material increases, is predicted to create a period of ongoing uncertainty.
A significant number of new business opportunities arise from relationships maintained by the Group’s directors. However, these relationships are supported by the Group’s strong reputation, which has been built through the quality of its work and the professional conduct demonstrated across previous contracts. This reputation continues to generate a significant proportion of new opportunities for similar projects, either through repeat business from existing clients or through established connections with respected industry professionals.
As a result, the Group places a strong emphasis on customer satisfaction as a key performance indicator. Looking ahead, the business has also reinforced the importance of an effective Business Development function in driving and securing future tender opportunities.
The Group recognises the importance of building a strong and diverse supply chain, working with like-minded organisations that add genuine value. We are committed to developing mutually beneficial relationships with our supply chain partners and continue to implement a thorough and straightforward pre-qualification process.
For a number of years the Group have entered the Deloitte Best Managed Company awards led by Deloitte Ireland. The programme represents 25 counties across the island of Ireland, ranging in sectors from retail and hospitality to manufacturing and construction.
The programme promotes and recognises excellence in Irish/ Northern Irish owned and managed companies and is the only awards scheme on the island of Ireland that considers business performance from every perspective. As an entrant the Group were evaluated for their management abilities and practices in addition to strategy, capability, innovation, culture and financial performance. The Group were pleased to be a requalifer winner in 2025.
The Group keeps off-site backups of all digital data and safeguards against external risks by training staff and implementing security measures such as antivirus software.
Looking ahead, while the Group operates in a fast moving environment shaped by cost inflation, supply chain pressures, labour availability and evolving client demand the Board is satisfied that these principal risks are appropriately identified, monitored, and managed.
The Group maintains a strong balance sheet and a positive order book, providing confidence in its capacity to navigate short-term volatility while supporting sustainable growth.
NKP Holdings (N.I.) Ltd
Strategic Report for the Year Ended 30 November 2025
Following a positive financial outcome at Y/E November 2024, the Group had a slower than anticipated Qtr 1 in 2025 with a number of secured projects paused or deferred. This in turn resulted in budget adjustments taking place in both Qtr 1 and 2 but was mitigated to an extent, with a strong and positive finish to the year.
The Directors recognise that effective risk management is essential to the delivery of the Group’s strategic objectives. As the Group operates in the interior fit-out and broader construction sector it is exposed to a number of operational and financial risks. Risk consideration centres around client profile, type of contract, geography and supply chain. Sufficient time is set aside at monthly board meetings to review and update the Group's risk register.
During the year the Group completed a number of successful projects for a leading hospitalility organisation which included a significant bespoke joinery element.
Despite the recent rise in shop price inflation and the broader pressure on household finances, the Group remains confident that certain strategically located leisure venues will still be delivered in 2026.
The Group continue to robustly manage their regulatory and compliance matters ranging from a comprehensive Safety, Health, Environment, and Quality policy to FSC ( Forest Stewardship Council) and ESG ( Environmental, Social and Governance ) policy. It is particularly pleasing to report that for a second year running the Group achieved platinum level (described as Top Performer),in the 2025 NI Environmental Benchmarking Survey.
Effective cash management is key in a fast moving sector. This enables the business to pay our supply chain well within standard industry terms. The Group ended the year with a strong net cash position.
Staff retention has been a key part of the Group’s success. We continue to ensure we offer attractive and competitive remuneration packages at all levels and we are particularly pleased that our long standing tradition of apprenticeship training is now paying dividends.
During 2025, we saw a 30% increase in apprenticeship opportunities. Testament to the Group’s strong link with regional colleges was that two year three trainees qualified for the final of SkillBuild NI 2025 competition.
The Group has held Investors in People accreditation, an internationally recognised accreditation for people management and employee wellbeing since 2008.
Our senior management team has set a clear pathway leading to reaccreditation by the end of 2026.
Recent events, in particular the Iran war are likely to have a significant impact on Britain’s economy which is anticipated to be felt in many sectors with rising energy costs and general cost of living pressures. These activities, following on from the previous Budget announcements - which included an increase in employer National Insurance contributions in 2024 and the more recent increase in the national living wage - have all led to a higher payroll cost. This, coupled with general building material increases, is predicted to create a period of ongoing uncertainty.
A significant number of new business opportunities arise from relationships maintained by the Group’s directors. However, these relationships are supported by the Group’s strong reputation, which has been built through the quality of its work and the professional conduct demonstrated across previous contracts. This reputation continues to generate a significant proportion of new opportunities for similar projects, either through repeat business from existing clients or through established connections with respected industry professionals.
As a result, the Group places a strong emphasis on customer satisfaction as a key performance indicator. Looking ahead, the business has also reinforced the importance of an effective Business Development function in driving and securing future tender opportunities.
The Group recognises the importance of building a strong and diverse supply chain, working with like-minded organisations that add genuine value. We are committed to developing mutually beneficial relationships with our supply chain partners and continue to implement a thorough and straightforward pre-qualification process.
For a number of years the Group have entered the Deloitte Best Managed Company awards led by Deloitte Ireland. The programme represents 25 counties across the island of Ireland, ranging in sectors from retail and hospitality to manufacturing and construction.
The programme promotes and recognises excellence in Irish/ Northern Irish owned and managed companies and is the only awards scheme on the island of Ireland that considers business performance from every perspective. As an entrant the Group were evaluated for their management abilities and practices in addition to strategy, capability, innovation, culture and financial performance. The Group were pleased to be a requalifer winner in 2025.
The Group keeps off-site backups of all digital data and safeguards against external risks by training staff and implementing security measures such as antivirus software.
Looking ahead, while the Group operates in a fast moving environment shaped by cost inflation, supply chain pressures, labour availability and evolving client demand the Board is satisfied that these principal risks are appropriately identified, monitored, and managed.
The Group maintains a strong balance sheet and a positive order book, providing confidence in its capacity to navigate short-term volatility while supporting sustainable growth.
Section 172(1) statement
This section serves as our section 172 statement and should be read in conjunction with the rest of the Strategic Report. Section 172 of the Companies Act 2006 requires Directors to take into consideration the interests of stakeholders in their decision making.
The Directors continue to have regard to the interests of the group's employees and other stakeholders, including the impact of its activities on the community, the environment and the group's reputation, when making decisions. Acting in good faith and fairly between members, the Directors consider what is most likely to promote the success of the group in the long term. Whilst the importance of giving due consideration to our stakeholders is not new, we are explaining in more detail this year how the Board engages with our stakeholders, with the requirement to include a statement setting out how our Directors have discharged this duty.
The directors have disclosed the level of information below consistent with the size and complexity of our business in mind and of strategic importance to the group.
a) Long term strategy
Our long term plan is designed to have a long term beneficial impact on the company and to contribute to its future success. Our business operations are conducted with the careful management of financial resources and budgetary controls. This enables us to provide our customers with a secure and reliable service which is constantly reviewed for quality and continuity in the long term. Board meetings are held monthly to review performance and adapt where necessary, according to changes in demand and innovation within our industry.
NKP Holdings (N.I.) Ltd
Strategic Report for the Year Ended 30 November 2025
(b) Engaging with our employees
We recognise that the success of our business is very much dependent upon attracting, retaining and motivating employees. As a responsible employer, our policy in respect of pay and benefits to our health, safety and workplace environments is not only adequate but is continually reviewed. The directors recognise that our employees are one of our key stakeholders.
(c) Fostering business relationships with suppliers, customers and others
The success of our business strategy requires sustaining a long lasting strong mutually beneficial relationship with our customers and suppliers. Our policy is committed to develop and maintain strong client relationships. In this respect we ensure that there is continual investment in our business development team and processes and keep up to date with the ever-changing workplace business needs as determined by our clients.
Our suppliers remain yet another key stakeholder in our strategy to deliver a long-term high-quality service to our clients. The business continuously reviews relationships with our supply chain to forge ongoing partnership with suppliers who will have beneficial impact on the group's success.
(d) The impact of operations on the community and environment
The group recognises its operations directly impact on the natural and human environment and aims to continually assess the environmental implications of our activities and will actively seek the co-operation of clients, sub-contractors, suppliers, and all our employees in minimising adverse effects.
(e) The desirability of the group maintaining a reputation for high standards of business conduct
The group has a policy of maintaining and developing its systems to meet the highest industry standards expected of our customers, suppliers, employees and other stakeholders.
(f) The need to act fairly as between members of the group
The directors are committed to long term creation of shareholder value by continuing to maintain its market share in Northern Ireland, Great Britain and Ireland. The directors are confident that their strategy will result in continued profitability.
NKP Holdings (N.I.) Ltd
Strategic Report for the Year Ended 30 November 2025
Non-financial and sustainability information
Energy and carbon report
Emissions and energy consumption
NKP Holdings (N.I.) Ltd measure using the GHG Reporting Protocol Corporate Standard and have used the 2021/2022/2023/2024/2025 UK Government's Conversion Factors for Company Reporting. The organisation aligns with the United Nations Sustainable Development Goals (UNSDGs) framework, with a specific focus on achieving excellence in the following UNSDGs:
• 8 – Decent Work and Economic Growth
• 9 – Industry Innovation and Infrastructure
• 11 – Sustainable Cities and Communities
• 12 – Responsible Consumption and Production
• 13 – Climate Action
The organisation uses SustainIQ ESG platform to ensure standardised and consistent data collection methods. Workflows are aligned to group procedures, data is collected by forms at point of entry, via CSV upload or automated to collect data from existing software systems. Our procedures and use of the SustainIQ platform are aligned to the ISO 14001 accreditation. SustainIQ is updated with the UK Government Conversion factors year-on-year to provide accurate reporting relevant for that period.
Summary of scope 1 (direct) greenhouse gas emissions for the year ended 30 November 2025:
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Name and description |
Unit of |
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Natural Gas |
tCO2e |
|
|
|
Business Miles (company owned) |
tCO2e |
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|
Summary of scope 2 (indirect) greenhouse gas emissions for the year ended 30 November 2025:
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Name and description |
Unit of |
||
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Electricity (location based) |
tCO2e |
|
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NKP Holdings (N.I.) Ltd
Strategic Report for the Year Ended 30 November 2025
Summary of scope 3 (other indirect) greenhouse gas emissions for the year ended 30 November 2025:
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Name and description |
Unit of |
||
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Upstream & Downstream transport |
tCO2e |
|
|
|
Business Travel (Land - employee commute) |
tCO2e |
|
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Waste transport |
tCO2e |
|
|
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Water supply & treatment |
tCO2e |
|
|
|
T&D Losses |
tCO2e |
|
|
|
Business Travel |
tCO2e |
|
|
|
|
|
Summary of energy consumption for the year ended 30 November 2025:
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Name and description |
Unit of |
||
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Gas |
kWh |
|
|
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Electricity |
kWh |
|
|
|
Transport Fuel |
kWh |
|
|
|
|
|
We are committed to transparency and continuous improvement in our net-zero efforts. As part of our ongoing initiative to provide a more accurate and comprehensive picture of our carbon impact, we have recently expanded the scope of our carbon emissions measurement.
In our latest 2025 carbon footprint assessment, we have included additional Scope 3 emission sources within our Scope 3 calculations (see above). This expanded measurement now encompasses more indirect emissions across our entire value chain, including activities which were not captured before. As a result, our reported total carbon footprint has increased.
By broadening our Scope 3 emissions measurement, we can better understand the full extent of our carbon impact, which includes emissions beyond our direct control but that are still related to our operation. We believe that a complete and honest assessment of our carbon footprint is essential to making meaningful progress towards our net-zero goals, and allows NKP Holdings (N.I.) Ltd to ensure we adhere with the 5 pillars of carbon accounting: completeness, transparency, accuracy, relevancy, and consistency.
NKP Holdings (N.I.) Ltd
Strategic Report for the Year Ended 30 November 2025
Intensity ratio
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Tonnes CO2 per £m turnover
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Energy efficiency initiatives
The following environmental management measures and projects have either been completed or are being or planned to be implemented since the 2021/2022 baseline. The carbon emission reduction and energy efficiency achieved by these schemes will be in effect when performing the contract.
NKP Holdings (N.I) Ltd has implemented a net zero strategy to challenge the business to reduce emissions and achieve net zero by 2050.
We recognise our responsibility to eliminate and to reduce our emissions over the coming years in line with our targets. These include:
• Implementation of ISO 14001, ISO 45001 and ISO 9001
• Implementation of FSC
• Implementation of FORS Silver
• Invested in vehicle tracker software to calculate transport emissions
• Investment in ESG / sustainability reporting software
• Full carbon audit to understand emissions
• Compliance with SECR Regulations
• Carbon Reduction Plan produced outlining targets to be achieved across the business scope 1, scope 2 and scope 3 emissions
• Monitoring, measuring and reporting of Scope 1 and Scope 2 emissions
• Continuing to increase monitoring, measuring and reporting of Scope 3 emissions in 2024/25
• Installation of biomass boilers at Head Office (Bespoke Joinery Workshop)
• Installed solar panels to head office 100Kw
• Installation of LED lighting throughout head office & workshop
• Invested in IT to facilitate remote working to reduce business travel and employee commuting
• Working alongside IDNI, Cleantech & Mid & East Antrim
• Green to grow programme
• Michelin Fund Programme
• Climate Action Pledge
• Energy Audits (Invest NI & IDNI)
• Carbon literacy course for our employees - ongoing
• Photocell sensor installed for outisde lighting
• Renewed 100% green tariff at Head Office
• Installed EV charge points at Head Office
• Achieved the top platinum award in the BITC NIEBS 2025 including top 40 performers throughout Northern Ireland
• Additional solar panel install 76Kw (Approved June 2026)
In the future we hope to implement further measures such as:
• Carbon literacy course to our supply chains
• Improve recycling within Head Office
• Complete the BITC NIEBS for 2026 with hopes to achieve Platinum level award
• Working alongside waste carrier to reduce Head Office waste to landfill by 50%
• Transport strategy to progressively switch to EV/PHEV vehicles
NKP Holdings (N.I.) Ltd
Strategic Report for the Year Ended 30 November 2025
Approved and authorised by the
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NKP Holdings (N.I.) Ltd
Directors' Report for the Year Ended 30 November 2025
The directors present their report and the for the year ended 30 November 2025.
Directors of the group
The directors who held office during the year were as follows:
Financial instruments
Objectives and policies
The group's principal financial instruments comprise bank balances, bank overdrafts, trade debtors, and trade creditors. The main purpose of these instruments is to finance the business' operations.
Price risk, credit risk, liquidity risk and cash flow risk
The group's activities expose it to the financial risks of foreign currency exchange rates.
In respect of bank balances, the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of overdrafts at a floating rate of interest. All of the group's cash balances are held in such a way that achieves a competitive rate of interest. The group's makes use of money market facilities when funds are available.
Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits. The amounts presented in the balance sheet are net of allowances for doubtful debtors.
Trade creditors' liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.
Engagement with suppliers, customers and other relationships
The value of customer and supplier relationships is considered crucial to the continued success of the group and this ethos along with protecting the long-term future of the group and its employees is the centre to key decisions taken by the directors.
Future developments
The group plans to continue its present activities and ongoing growth strategies.
Research and development
The group has ongoing research and development work into new processes and products in order to continually improve the operations of the business.
Information included in the Strategic Report
Under Schedule 7.1A of "Large and Medium-Sized Companies and Groups (Accounts and Reports) Regulations 2008" the group has elected to disclose the following directors report information in the strategic report:
• Financial performance indicators;
• Principal risks and uncertainties;
• Principal activity and Business review; and
• Non-financial and sustainability information.
NKP Holdings (N.I.) Ltd
Directors' Report for the Year Ended 30 November 2025
Statement of directors' responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and the company and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:
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• |
select suitable accounting policies and apply them consistently; |
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• |
make judgements and accounting estimates that are reasonable and prudent; |
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• |
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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• |
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group's and the company's transactions and disclose with reasonable accuracy at any time the financial position of the group and the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Disclosure of information to the auditor
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditor is unaware.
Reappointment of auditors
In accordance with section 485 of the Companies Act 2006, a resolution for the re-appointment of DT Carson & Co. as auditors of the company is to be proposed at the forthcoming Annual General Meeting.
Approved and authorised by the
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NKP Holdings (N.I.) Ltd
Independent Auditor's Report to the Members of NKP Holdings (N.I.) Ltd
Opinion
We have audited the financial statements of NKP Holdings (N.I.) Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 November 2025, which comprise the Consolidated Profit and Loss Account, Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Changes in Equity, Statement of Changes in Equity, Consolidated Statement of Cash Flows, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the group's and the parent company's affairs as at 30 November 2025 and of the group's profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
NKP Holdings (N.I.) Ltd
Independent Auditor's Report to the Members of NKP Holdings (N.I.) Ltd
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
|
• |
the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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• |
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the parent company financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors' remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page 11, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor Responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
• We obtained an understanding of the legal and regulatory framework applicable to the group and the sector in which it operates. We determined that the following laws and regulations were most significant: the Companies Act 2006 and UK corporate taxation laws and we determined that the financial reporting framework used was FRS 102;
• We obtained an understanding of how the group is complying with those legal, regulatory and financial reporting frameworks by making inquiries of management; and
• We assessed the susceptibility of the group's financial statements to material misstatement, including how fraud might occur.
NKP Holdings (N.I.) Ltd
Independent Auditor's Report to the Members of NKP Holdings (N.I.) Ltd
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Based on the results of our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations identified above. Audit procedures performed included:
|
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
NKP Holdings (N.I.) Ltd
Independent Auditor's Report to the Members of NKP Holdings (N.I.) Ltd
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
......................................
For and on behalf of
Ballymena
Co. Antrim
BT43 6AZ
NKP Holdings (N.I.) Ltd
Consolidated Profit and Loss Account for the Year Ended 30 November 2025
|
Note |
2025 |
2024 |
|
|
Turnover |
|
|
|
|
Cost of sales |
( |
( |
|
|
Gross profit |
|
|
|
|
Administrative expenses |
( |
( |
|
|
Other operating income |
|
|
|
|
Operating profit |
|
|
|
|
Other interest receivable and similar income |
|
|
|
|
Interest payable and similar expenses |
|
( |
|
|
670,445 |
411,058 |
||
|
Profit before tax |
|
|
|
|
Tax on profit |
( |
( |
|
|
Profit for the financial year |
|
|
|
|
Profit/(loss) attributable to: |
|||
|
Owners of the company |
|
|
The group has no recognised gains or losses for the year other than the results above.
NKP Holdings (N.I.) Ltd
Consolidated Statement of Comprehensive Income for the Year Ended 30 November 2025
|
2025 |
2024 |
|
|
Profit for the year |
|
|
|
Total comprehensive income for the year |
|
|
|
Total comprehensive income attributable to: |
||
|
Owners of the company |
|
|
NKP Holdings (N.I.) Ltd
(Registration number: NI723959)
Consolidated Balance Sheet as at 30 November 2025
|
Note |
2025 |
2024 |
|
|
Fixed assets |
|||
|
Tangible assets |
|
|
|
|
Investment property |
|
|
|
|
|
|
||
|
Current assets |
|||
|
Stocks |
|
|
|
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets |
|
|
|
|
Total assets less current liabilities |
|
|
|
|
Provisions for liabilities |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
10,000 |
10,000 |
|
|
Retained earnings |
18,421,035 |
17,285,863 |
|
|
Equity attributable to owners of the company |
18,431,035 |
17,295,863 |
|
|
Shareholders' funds |
18,431,035 |
17,295,863 |
Approved and authorised by the
|
......................................... |
NKP Holdings (N.I.) Ltd
(Registration number: NI723959)
Balance Sheet as at 30 November 2025
|
Note |
2025 |
2024 |
|
|
Fixed assets |
|||
|
Investments |
|
- |
|
|
Current assets |
|||
|
Debtors |
|
- |
|
|
Creditors: Amounts falling due within one year |
( |
- |
|
|
Net current assets |
|
- |
|
|
Total assets less current liabilities |
|
- |
|
|
Provisions for liabilities |
|
- |
|
|
Net assets |
|
- |
|
|
Capital and reserves |
|||
|
Called up share capital |
10,000 |
- |
|
|
Retained earnings |
1,986,500 |
- |
|
|
Shareholders' funds |
1,996,500 |
- |
The company made a profit after tax for the financial year of £1,986,500 (2024 - loss of £-).
Approved and authorised by the
|
......................................... |
NKP Holdings (N.I.) Ltd
Consolidated Statement of Changes in Equity for the Year Ended 30 November 2025
Equity attributable to the parent company
|
Share capital |
Retained earnings |
Total |
Total equity |
|
|
At 1 December 2024 |
|
|
|
|
|
Profit for the year |
- |
|
|
|
|
At 30 November 2025 |
|
|
|
|
NKP Holdings (N.I.) Ltd
Statement of Changes in Equity for the Year Ended 30 November 2025
|
Share capital |
Retained earnings |
Total |
|
|
Profit for the year |
- |
|
|
|
New share capital subscribed |
|
- |
|
|
At 30 November 2025 |
|
|
|
|
At 30 November 2024 |
NKP Holdings (N.I.) Ltd
Consolidated Statement of Cash Flows for the Year Ended 30 November 2025
|
Note |
2025 |
2024 |
|
|
Cash flows from operating activities |
|||
|
Profit for the year |
|
|
|
|
Adjustments to cash flows from non-cash items |
|||
|
Depreciation and amortisation |
|
|
|
|
Changes in fair value of investment property |
( |
( |
|
|
Profit on disposal of tangible assets |
( |
- |
|
|
Finance income |
( |
( |
|
|
Finance costs |
|
- |
|
|
Income tax expense |
|
|
|
|
|
|
||
|
Working capital adjustments |
|||
|
Decrease in stocks |
|
|
|
|
Decrease/(increase) in trade debtors |
|
( |
|
|
Increase in trade creditors |
|
|
|
|
Cash generated from operations |
|
|
|
|
Income taxes paid |
( |
- |
|
|
Net cash flow from operating activities |
|
|
|
|
Cash flows from investing activities |
|||
|
Interest received |
|
|
|
|
Acquisitions of tangible assets |
( |
( |
|
|
Proceeds from sale of tangible assets |
|
- |
|
|
Acquisition of investment properties |
- |
( |
|
|
Net cash flows from investing activities |
|
|
|
|
Cash flows from financing activities |
|||
|
Interest paid |
( |
- |
|
|
Net increase in cash and cash equivalents |
|
|
|
|
Cash and cash equivalents at 1 December |
|
|
|
|
Cash and cash equivalents at 30 November |
15,558,981 |
12,392,076 |
|
NKP Holdings (N.I.) Ltd
Statement of Cash Flows for the Year Ended 30 November 2025
|
Note |
2025 |
2024 |
|
|
Cash flows from operating activities |
|||
|
Profit for the year |
|
- |
|
|
Adjustments to cash flows from non-cash items |
|||
|
Finance income |
( |
- |
|
|
Income tax expense |
( |
- |
|
|
( |
- |
||
|
Working capital adjustments |
|||
|
Increase in trade debtors |
( |
- |
|
|
Increase in trade creditors |
|
- |
|
|
Net cash flow from operating activities |
( |
- |
|
|
Cash flows from investing activities |
|||
|
Interest received |
|
- |
|
|
Net increase/(decrease) in cash and cash equivalents |
- |
- |
|
|
Cash and cash equivalents at 1 December |
- |
- |
|
|
Cash and cash equivalents at 30 November |
- |
- |
|
NKP Holdings (N.I.) Ltd
Notes to the Financial Statements for the Year Ended 30 November 2025
|
General information |
The company is a private company limited by share capital, incorporated in Northern Ireland.
The address of its registered office is:
Northern Ireland
These financial statements were authorised for issue by the
|
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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
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.
The presentation currency of these financial statements is sterling and all amounts have been rounded to the nearest £1.
NKP Holdings (N.I.) Ltd
Notes to the Financial Statements for the Year Ended 30 November 2025
Basis of consolidation
The consolidated financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 30 November 2025.
The consolidated financial statements consolidate the financial statements of NKP Holdings (N.I.) Ltd (the "Company") and its subsidiary undertakings drawn up to 30 November 2025.
NKP Holdings (N.I.) Ltd was incorporated on 22 November 2024. On 26 August 2025, the Company became the parent undertaking of the group through a share-for-share exchange whereby it acquired the entire issued share capital of James F McCue Limited. The transaction constituted a group reconstruction involving entities under common control, with the ultimate shareholders retaining the same economic interests before and after the reorganisation. Accordingly, the transaction has been accounted for using the merger accounting provisions of FRS 102.
Under the merger method, the assets and liabilities of the combining entities are recognised at their existing carrying amounts and no goodwill arises on consolidation. The consolidated financial statements have been prepared as though the combining entities had always operated as a single group. Accordingly, the consolidated results, cash flows and movements in equity of the combining entities are included for both the current and comparative financial periods, irrespective of the date on which the group reconstruction took place, and the comparative consolidated financial information has been presented on the same basis.
The parent company financial statements reflect only the transactions and financial position of NKP Holdings (N.I.) Ltd from the date of its incorporation. As the Company acted principally as the holding company during the year, its results comprise only those transactions undertaken by the parent company in its own right.
The financial statements of subsidiary undertakings are prepared for the same reporting period as the parent company using consistent accounting policies. Where necessary, adjustments are made to the financial statements of subsidiaries to ensure consistency with the accounting policies adopted by the group.
All intra-group balances, transactions, income and expenses are eliminated in full on consolidation. Unrealised profits and losses arising on intra-group transactions are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.
Going concern
The financial statements have been prepared on a going concern basis. The directors have assessed a period of 12 months from the date of approving the financial statements with regard to the appropriateness of the going concern assumption in preparing the financial statements. The directors note the postive trading and cashflow position at the date of sign off of the financial statements and believe that the group will continue as a going concern and be able to realise its assets and discharge its liabilties in the normal course of business.
NKP Holdings (N.I.) Ltd
Notes to the Financial Statements for the Year Ended 30 November 2025
Judgements
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expenses in the financial statements and accompanying notes. Actual results may differ from these estimates. Judgements, estimates and assumptions are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under these circumstances. |
Key sources of estimation uncertainty
Contract balances
Recognition of turnover and profit on contracts requires management judgement regarding the anticipated final outcome of individual contracts and of the proportion of works completed at the balance sheet date. Management undertakes detailed reviews on a monthly basis in order to exercise judgement over the outcome of each contract and the associated risks and opportunities.
The value of work completed at the balance sheet date is calculated by undertaking surveys and completing internal management assessments on each element of works packages completed and in progress. Any material variances are investigated, and updates made where appropriate.
The age, nature and recoverability of all debtors and amounts recoverable on construction contracts are reviewed regularly by management and provisions made where appropriate.
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 group’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the group.
The group 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 group's activities.
Contract revenue recognition
When the outcome of a contract can be measured reliably, the group recognises contract revenue and contract costs as a proportion of the work undertaken at the end of the reporting period and the anticipated margins of the project (the stage of completion method). If the outcome cannot be reliably measured, all costs are expensed and revenue is only recognised to the extent that it is probable that costs are recoverable.
When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised in full immediately as an expense and an associated liability recorded.
If revenue exceeds payments on account, amounts recoverable on contracts are established and classified within trade debtors. If payments on accounts are greater than revenue, the excess is classified within trade creditors.
Government grants
Government grants relating to revenue are recognised in the Profit and Loss Account in the same period as the related expenditure.
Finance income and costs policy
Interest income is recognised using the effective interest rate method.
NKP Holdings (N.I.) Ltd
Notes to the Financial Statements for the Year Ended 30 November 2025
Foreign currency transactions and balances
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 group operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the consolidated 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 group assesses at each reporting date whether tangible fixed assets are impaired.
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 |
|
Land and buildings |
2% straight line |
|
Other property, plant and equipment |
10 - 25% straight line |
|
Motor vehicles |
15 - 25% straight line |
Investment property
Subsequent to initial recognition, investment properties are held at fair value, derived from the current market prices for comparable real estate and indicative yields, and are determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss in the period that they arise. No depreciation is provided.
Investments
Investments in subsidiary undertakings are stated in the parent company's balance sheet at cost less impairment.
NKP Holdings (N.I.) Ltd
Notes to the Financial Statements for the Year Ended 30 November 2025
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 group 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.
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 group 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.
Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
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 group’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
NKP Holdings (N.I.) Ltd
Notes to the Financial Statements for the Year Ended 30 November 2025
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the group has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Classification
Recognition and measurement
Basic financial instruments are initially recognised by transaction value and subsequently measured at their settlement value.
Other financial instruments not meeting the definition of basic financial instruments are recognised initially at fair value. Subsequently, other financial instruments are measured at fair value with changes recognised in profit or loss.
Impairment
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
NKP Holdings (N.I.) Ltd
Notes to the Financial Statements for the Year Ended 30 November 2025
|
Turnover |
The analysis of the group's turnover for the year from continuing operations is as follows:
|
2025 |
2024 |
|
|
Sale of goods |
|
|
|
Rental income from investment property |
|
|
|
|
|
The analysis of the group's turnover for the year by market is as follows:
|
2025 |
2024 |
|
|
UK |
|
|
|
Europe |
|
|
|
|
|
|
Other operating income |
The analysis of the group's other operating income for the year is as follows:
|
2025 |
2024 |
|
|
Government grants |
|
|
|
Other gains and losses |
The analysis of the group's other gains and losses for the year is as follows:
|
2025 |
2024 |
|
|
Gain on disposal of tangible assets |
|
- |
|
Fair value adjustment to Investment property |
|
|
|
93,087 |
109,847 |
|
Operating profit |
Arrived at after charging/(crediting)
|
2025 |
2024 |
|
|
Depreciation expense |
|
|
|
Profit on disposal of property, plant and equipment |
( |
- |
NKP Holdings (N.I.) Ltd
Notes to the Financial Statements for the Year Ended 30 November 2025
|
Other interest receivable and similar income |
|
2025 |
2024 |
|
|
Interest income on bank deposits |
|
|
|
Other finance income |
|
|
|
|
|
|
Interest payable and similar expenses |
|
2025 |
2024 |
|
|
Interest expense on other finance liabilities |
|
- |
|
Foreign exchange (gains)/losses |
( |
|
|
( |
|
|
Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
|
2025 |
2024 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
Other employee expense |
|
|
|
|
|
The average number of persons employed by the group (including directors) during the year, analysed by category was as follows:
|
2025 |
2024 |
|
|
Production |
|
|
|
Administration and support |
|
|
|
|
|
NKP Holdings (N.I.) Ltd
Notes to the Financial Statements for the Year Ended 30 November 2025
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
|
2025 |
2024 |
|
|
Remuneration |
|
|
|
Contributions paid to money purchase schemes |
|
|
|
555,065 |
440,177 |
During the year the number of directors who were receiving benefits and share incentives was as follows:
|
2025 |
2024 |
|
|
Accruing benefits under money purchase pension scheme |
|
|
In respect of the highest paid director:
|
2025 |
2024 |
|
|
Remuneration |
|
|
|
Company contributions to money purchase pension schemes |
|
|
|
Auditors' remuneration |
|
2025 |
2024 |
|
|
Audit of these financial statements |
21,500 |
17,650 |
|
Other fees to auditors |
||
|
All other non-audit services |
|
- |
|
Taxation |
Tax charged/(credited) in the consolidated profit and loss account
|
2025 |
2024 |
|
|
Current taxation |
||
|
UK corporation tax |
|
|
|
UK corporation tax adjustment to prior periods |
( |
- |
|
99,055 |
560,873 |
|
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
|
|
|
Tax expense in the income statement |
|
|
NKP Holdings (N.I.) Ltd
Notes to the Financial Statements for the Year Ended 30 November 2025
The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2024 - the same as the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2025 |
2024 |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
|
Decrease in UK and foreign current tax from adjustment for prior periods |
( |
- |
|
Tax (decrease)/increase from effect of capital allowances and depreciation |
( |
|
|
Tax increase/(decrease) from other short-term timing differences |
|
( |
|
Effect of revenues exempt from taxation |
( |
( |
|
Effect of expense not deductible in determining taxable profit (tax loss) |
|
|
|
Tax decrease from effect of adjustment in research and development tax credit |
( |
( |
|
Total tax charge |
|
|
Deferred tax
Group
Deferred tax assets and liabilities
|
2025 |
Asset |
Liability |
|
Difference between accumulated depreciation and amortisation and capital allowances |
- |
|
|
Tax losses carry-forwards |
|
- |
|
|
|
|
2024 |
Asset |
Liability |
|
Difference between accumulated depreciation and amortisation and capital allowances |
- |
|
|
- |
|
NKP Holdings (N.I.) Ltd
Notes to the Financial Statements for the Year Ended 30 November 2025
Company
Deferred tax assets and liabilities
|
2025 |
Asset |
Liability |
|
|
- |
|
|
|
- |
|
Tangible assets |
Group
|
Land and buildings |
Motor vehicles |
Other tangible assets |
Total |
|
|
Cost or valuation |
||||
|
At 1 December 2024 |
|
|
|
|
|
Additions |
|
|
|
|
|
At 30 November 2025 |
|
|
|
|
|
Depreciation |
||||
|
At 1 December 2024 |
|
|
|
|
|
Charge for the year |
|
|
|
|
|
At 30 November 2025 |
|
|
|
|
|
Carrying amount |
||||
|
At 30 November 2025 |
|
|
|
|
|
At 30 November 2024 |
|
|
|
|
Included within the net book value of land and buildings above is £1,036,170 (2024 - £1,060,598) in respect of freehold land and buildings.
|
Investment properties |
Group
|
2025 |
|
|
At 1 December |
|
|
Fair value adjustments |
|
|
At 30 November |
|
The investment properties were valued on 30 November 2025 by the directors. The directors have valued the investment property at the year end based on their estimate of the market value using yield methodology and current market values of comparable real estate. The directors believe that the above valuation reflects the fair value of the investment property at the year end.
NKP Holdings (N.I.) Ltd
Notes to the Financial Statements for the Year Ended 30 November 2025
|
Investments |
Company
|
2025 |
2024 |
|
|
Investments in subsidiaries |
|
- |
|
Subsidiaries |
£ |
|
Cost or valuation |
|
|
At 1 December 2024 |
|
|
Provision |
|
|
Carrying amount |
|
|
At 30 November 2025 |
|
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
|
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
|
|
2025 |
2024 |
|||
|
Subsidiary undertakings |
||||
|
|
2 Sloefield Drive
Northern Ireland |
|
|
|
|
Subsidiary undertakings |
|
James F. McCue Limited The principal activity of James F. McCue Limited is |
|
Stocks |
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Raw materials and consumables |
|
|
- |
- |
|
Work in progress |
|
|
- |
- |
|
|
|
- |
- |
|
NKP Holdings (N.I.) Ltd
Notes to the Financial Statements for the Year Ended 30 November 2025
|
Debtors |
|
Group |
Company |
||||
|
Current |
Note |
2025 |
2024 |
2025 |
2024 |
|
Trade debtors |
|
|
- |
- |
|
|
Amounts owed by related parties |
|
|
|
- |
|
|
Other debtors |
|
|
- |
- |
|
|
Prepayments |
|
|
- |
- |
|
|
Income tax asset |
|
- |
- |
- |
|
|
|
|
|
- |
||
|
Cash and cash equivalents |
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Cash on hand |
|
|
- |
- |
|
Cash at bank |
|
|
- |
- |
|
Short-term deposits |
|
|
- |
- |
|
|
|
- |
- |
|
|
Creditors |
|
Group |
Company |
||||
|
Note |
2025 |
2024 |
2025 |
2024 |
|
|
Due within one year |
|||||
|
Trade creditors |
|
|
- |
- |
|
|
Social security and other taxes |
|
|
- |
- |
|
|
Other payables |
|
- |
- |
- |
|
|
Accruals |
|
|
|
- |
|
|
Income tax liability |
- |
560,873 |
- |
- |
|
|
|
|
|
- |
||
NKP Holdings (N.I.) Ltd
Notes to the Financial Statements for the Year Ended 30 November 2025
|
Provisions for liabilities |
Group
|
Deferred tax |
Total |
|
|
At 1 December 2024 |
|
|
|
Increase (decrease) in existing provisions |
|
|
|
At 30 November 2025 |
|
|
|
|
||
Company
|
Deferred tax |
Total |
|
|
Increase (decrease) in existing provisions |
( |
( |
|
At 30 November 2025 |
( |
( |
|
|
||
|
Pension and other schemes |
Defined contribution pension scheme
The group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the group to the scheme and amounted to £
|
Share capital |
Group
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
10,000 |
|
10,000 |
|
Analysis of changes in net debt |
Group
|
At 1 December 2024 |
Financing cash flows |
At 30 November 2025 |
|
|
Cash and cash equivalents |
|||
|
Cash |
12,392,076 |
3,166,905 |
15,558,981 |
|
|
|||
|
|
|
|
|
NKP Holdings (N.I.) Ltd
Notes to the Financial Statements for the Year Ended 30 November 2025
|
Related party transactions |
Group
Key management personnel
The company's key management personnel are deemed to be the directors.
Key management compensation
|
2025 |
2024 |
|
|
Salaries and other short term employee benefits |
|
|
|
Post-employment benefits |
|
|
|
|
|
Summary of transactions with all entities with joint control or significant interest
Income and receivables from related parties
|
2025 |
Entities with joint control or significant influence |
|
Sale of goods |
|
|
Amounts receivable from related party |
|
|
|
|
|
2024 |
Entities with joint control or significant influence |
|
Sale of goods |
|
|
|
|
Expenditure with and payables to related parties
|
2025 |
Entities with joint control or significant influence |
|
Purchase of goods |
|
|
Amounts payable to related party |
|
|
|
|
NKP Holdings (N.I.) Ltd
Notes to the Financial Statements for the Year Ended 30 November 2025
|
2024 |
Entities with joint control or significant influence |
|
Purchase of goods |
|
|
Amounts payable to related party |
|
|
|
|
Loans to related parties
|
2025 |
Entities with joint control or significant influence |
Total |
|
At start of period |
|
|
|
Repaid |
( |
( |
|
Interest transactions |
|
|
|
At end of period |
|
|
|
|
||
|
2024 |
Entities with joint control or significant influence |
Total |
|
At start of period |
|
|
|
Repaid |
( |
( |
|
Interest transactions |
|
|
|
At end of period |
|
|
|
|
||
Terms of loans to related parties
Company
Income and receivables from related parties
|
2025 |
Subsidiary |
|
Amounts receivable from related party |
|
|
|
|
|
Parent and ultimate parent undertaking |
The ultimate controlling party is