NPI (Kettering) Ltd

NPI (KETTERING) LTD - Company Information

2021-04-012022-03-312022-03-31false11031926NPI (Kettering) Ltd2022-12-29iso4217:GBPxbrli:pure110319262021-04-01110319262022-03-31110319262021-04-012022-03-31110319262020-04-01110319262021-03-31110319262020-04-012021-03-3111031926bus:SmallEntities2021-04-012022-03-3111031926bus:AuditExempt-NoAccountantsReport2021-04-012022-03-3111031926bus:FullAccounts2021-04-012022-03-3111031926bus:PrivateLimitedCompanyLtd2021-04-012022-03-3111031926core:WithinOneYear2022-03-3111031926core:AfterOneYear2022-03-3111031926core:WithinOneYear2021-03-3111031926core:AfterOneYear2021-03-3111031926core:ShareCapital2022-03-3111031926core:SharePremium2022-03-3111031926core:RevaluationReserve2022-03-3111031926core:OtherReservesSubtotal2022-03-3111031926core:RetainedEarningsAccumulatedLosses2022-03-3111031926core:ShareCapital2021-03-3111031926core:SharePremium2021-03-3111031926core:RevaluationReserve2021-03-3111031926core:OtherReservesSubtotal2021-03-3111031926core:RetainedEarningsAccumulatedLosses2021-03-3111031926core:LandBuildings2022-03-3111031926core:PlantMachinery2022-03-3111031926core:Vehicles2022-03-3111031926core:FurnitureFittings2022-03-3111031926core:OfficeEquipment2022-03-3111031926core:NetGoodwill2022-03-3111031926core:IntangibleAssetsOtherThanGoodwill2022-03-3111031926core:ListedExchangeTraded2022-03-3111031926core:UnlistedNon-exchangeTraded2022-03-3111031926core:LandBuildings2021-03-3111031926core:PlantMachinery2021-03-3111031926core:Vehicles2021-03-3111031926core:FurnitureFittings2021-03-3111031926core:OfficeEquipment2021-03-3111031926core:NetGoodwill2021-03-3111031926core:IntangibleAssetsOtherThanGoodwill2021-03-3111031926core:ListedExchangeTraded2021-03-3111031926core:UnlistedNon-exchangeTraded2021-03-3111031926core:LandBuildings2021-04-012022-03-3111031926core:PlantMachinery2021-04-012022-03-3111031926core:Vehicles2021-04-012022-03-3111031926core:FurnitureFittings2021-04-012022-03-3111031926core:OfficeEquipment2021-04-012022-03-3111031926core:NetGoodwill2021-04-012022-03-3111031926core:IntangibleAssetsOtherThanGoodwill2021-04-012022-03-3111031926core:ListedExchangeTraded2021-04-012022-03-3111031926core:UnlistedNon-exchangeTraded2021-04-012022-03-3111031926core:MoreThanFiveYears2021-04-012022-03-3111031926core:Non-currentFinancialInstruments2022-03-3111031926core:Non-currentFinancialInstruments2021-03-3111031926dpl:CostSales2021-04-012022-03-3111031926dpl:DistributionCosts2021-04-012022-03-3111031926dpl:AdministrativeExpenses2021-04-012022-03-3111031926core:LandBuildings2021-04-012022-03-3111031926core:PlantMachinery2021-04-012022-03-3111031926core:Vehicles2021-04-012022-03-3111031926core:FurnitureFittings2021-04-012022-03-3111031926core:OfficeEquipment2021-04-012022-03-3111031926core:NetGoodwill2021-04-012022-03-3111031926core:IntangibleAssetsOtherThanGoodwill2021-04-012022-03-3111031926dpl:GroupUndertakings2021-04-012022-03-3111031926dpl:ParticipatingInterests2021-04-012022-03-3111031926dpl:GroupUndertakingscore:ListedExchangeTraded2021-04-012022-03-3111031926core:ListedExchangeTraded2021-04-012022-03-3111031926dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-04-012022-03-3111031926core:UnlistedNon-exchangeTraded2021-04-012022-03-3111031926dpl:CostSales2020-04-012021-03-3111031926dpl:DistributionCosts2020-04-012021-03-3111031926dpl:AdministrativeExpenses2020-04-012021-03-3111031926core:LandBuildings2020-04-012021-03-3111031926core:PlantMachinery2020-04-012021-03-3111031926core:Vehicles2020-04-012021-03-3111031926core:FurnitureFittings2020-04-012021-03-3111031926core:OfficeEquipment2020-04-012021-03-3111031926core:NetGoodwill2020-04-012021-03-3111031926core:IntangibleAssetsOtherThanGoodwill2020-04-012021-03-3111031926dpl:GroupUndertakings2020-04-012021-03-3111031926dpl:ParticipatingInterests2020-04-012021-03-3111031926dpl:GroupUndertakingscore:ListedExchangeTraded2020-04-012021-03-3111031926core:ListedExchangeTraded2020-04-012021-03-3111031926dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2020-04-012021-03-3111031926core:UnlistedNon-exchangeTraded2020-04-012021-03-3111031926core:NetGoodwill2022-03-3111031926core:IntangibleAssetsOtherThanGoodwill2022-03-3111031926core:LandBuildings2022-03-3111031926core:PlantMachinery2022-03-3111031926core:Vehicles2022-03-3111031926core:FurnitureFittings2022-03-3111031926core:OfficeEquipment2022-03-3111031926core:AfterOneYear2022-03-3111031926core:WithinOneYear2022-03-3111031926core:ListedExchangeTraded2022-03-3111031926core:UnlistedNon-exchangeTraded2022-03-3111031926core:ShareCapital2022-03-3111031926core:SharePremium2022-03-3111031926core:RevaluationReserve2022-03-3111031926core:OtherReservesSubtotal2022-03-3111031926core:RetainedEarningsAccumulatedLosses2022-03-3111031926core:NetGoodwill2021-03-3111031926core:IntangibleAssetsOtherThanGoodwill2021-03-3111031926core:LandBuildings2021-03-3111031926core:PlantMachinery2021-03-3111031926core:Vehicles2021-03-3111031926core:FurnitureFittings2021-03-3111031926core:OfficeEquipment2021-03-3111031926core:AfterOneYear2021-03-3111031926core:WithinOneYear2021-03-3111031926core:ListedExchange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NPI (Kettering) Ltd

Registered Number
11031926
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2022

NPI (Kettering) Ltd

Company Information
for the year from 1 April 2021 to 31 March 2022


Directors	Benjamin Spickernell
	Thomas G Spickernell
	Marcus R Hayes


Registered Address	The Forge
	Sutton Maddock
	Shifnal
	TF11 9ND


Registered Number	11031926 (England and Wales)

NPI (Kettering) Ltd

Balance Sheet as at
31 March 2022

	Notes	2022		2021
		£	£	£	£
Fixed assets
Tangible assets	7		190		285
Investment property	8		1,100,699		1,511,550
			1,100,889		1,511,835
Current assets
Debtors	10	107,782		12,017
		107,782		12,017
Creditors amounts falling due within one year	11	(775,736)		(36,686)
Net current assets (liabilities)			(667,954)		(24,669)
Total assets less current liabilities			432,935		1,487,166
Creditors amounts falling due after one year	12		-		(889,165)
Provisions for liabilities	13		(32,052)		(36,175)
Net assets			400,883		561,826
Capital and reserves
Called up share capital			100		100
Revaluation reserve			263,758		377,852
Profit and loss account			137,025		183,874
Shareholders' funds			400,883		561,826

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.

The financial statements were approved and authorised for issue by the Board of Directors on 29 December 2022, and are signed on its behalf by:

Benjamin Spickernell
Director
Registered Company No. 11031926

NPI (Kettering) Ltd

Notes to the Financial Statements
for the year ended 31 March 2022

1.	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Compliance with applicable reporting framework
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

3.	Principal activities
	The principal activity of the company is property development and investment.

4.	Basis of measurement used in financial statements
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

5.	Accounting policies

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Reducing balance (%)
	Office Equipment	33

	Investment property policy
	Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers 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.

	Revenue recognition policy
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue recognition policy

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Deferred tax policy
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax policy

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Foreign currency translation and operations policy
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation and operations policy

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

6.	Employee information


		2022		2021
	Average number of employees during the year	0		0

7.	Property, plant and equipment

	Office Equipment	Total
	£	£
Cost or valuation
At 01 April 21	1,265	1,265
At 31 March 22	1,265	1,265
Depreciation and impairment
At 01 April 21	980	980
Charge for year	95	95
At 31 March 22	1,075	1,075
Net book value
At 31 March 22	190	190
At 31 March 21	285	285

8.	Investment property
	The property has been valued by the directors with reference to current market conditions, specifically with regard to the potential impact of the Covid-19 pandemic. Although no formal valuation has been undertaken they are of the opinion that the financial statements give a fair reflection of its value at the date of signing and they are unaware of any specific issues which will significantly affect this in the foreseeable future. The investment property has been pledged as security for a bank loan taken out by the Parent Company, to include a first charge over the property and a cross party guarantee between the Company, it's Parent and the ultimate lender.

Investment property

The property has been valued by the directors with reference to current market conditions, specifically with regard to the potential impact of the Covid-19 pandemic. Although no formal valuation has been undertaken they are of the opinion that the financial statements give a fair reflection of its value at the date of signing and they are unaware of any specific issues which will significantly affect this in the foreseeable future.

The investment property has been pledged as security for a bank loan taken out by the Parent Company, to include a first charge over the property and a cross party guarantee between the Company, it's Parent and the ultimate lender.


		£
	Fair value at 01 April 21	1,511,550
	Disposals	(410,851)
	At 31 March 22	1,100,699

9.	Description of nature of transactions and balances with related parties
	The Company has borrowed £650,321 (2021: £889.165) from its parent company. This loan is denominated in sterling and has been provided interest free with no fixed repayment date, but it is likely to be repaid within one year and is therefore shown as such in these financial statements.

10.	Debtors

	2022	2021
	£	£
Trade debtors / trade receivables	91,631	312
Other debtors	1,419	1,419
Prepayments and accrued income	14,732	10,286
Total	107,782	12,017


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

11.	Creditors within one year

	2022	2021
	£	£
Trade creditors / trade payables	6,103	14,256
Amounts owed to related parties	650,321	-
Taxation and social security	80,370	432
Other creditors	22,631	12,135
Accrued liabilities and deferred income	16,311	9,863
Total	775,736	36,686


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

12.	Creditors after one year

	2022	2021
	£	£
Amounts owed to related parties	-	889,165
Total	-	889,165

13.	Provisions for liabilities

	2022	2021
	£	£
Net deferred tax liability (asset)	32,052	36,175
Total	32,052	36,175