KPP Search Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08138819 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2021

for

KPP Search Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P M Edwards

Mrs S F Edwards

REGISTERED OFFICE:

1 Long Lane

London

SE1 4PG

REGISTERED NUMBER:

08138819 (England and Wales)

ACCOUNTANTS:

Silvester Parker Limited

The Spinney

Beausale

Warwick

Warwickshire

CV35 7NU

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

2,877

3,427

2,877

3,427

CURRENT ASSETS

Debtors

6

111,382

166,222

Cash at bank

118,635

15,715

230,017

181,937

CREDITORS

Amounts falling due within one year

7

152,153

122,368

NET CURRENT ASSETS

77,864

59,569

TOTAL ASSETS LESS CURRENT LIABILITIES

80,741

62,996

PROVISIONS FOR LIABILITIES

547

651

NET ASSETS

80,194

62,345

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

80,193

62,344

SHAREHOLDERS' FUNDS

80,194

62,345

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 December 2021 and were signed on its behalf by:

P M Edwards - Director

1.	STATUTORY INFORMATION

KPP Search Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company has prepared annual budgets and cash flow projections that extend beyond 12 months from the date of this report. The Covid 19 pandemic has caused considerable economic uncertainty but the director is actively monitoring the situation as it develops.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2020 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 April 2020

and 31 March 2021

1,500

AMORTISATION

At 1 April 2020

and 31 March 2021

1,500

NET BOOK VALUE

At 31 March 2021

-

At 31 March 2020

-

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2020

8,939

Additions

1,628

At 31 March 2021

10,567

DEPRECIATION

At 1 April 2020

5,512

Charge for year

2,178

At 31 March 2021

7,690

NET BOOK VALUE

At 31 March 2021

2,877

At 31 March 2020

3,427

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

as restated

£

£

Trade debtors

71,583

94,637

Amounts owed by group undertakings

21,858

48,448

Other debtors

-

12,225

Tax

4,962

-

VAT

1,581

590

Prepayments

11,398

10,322

111,382

166,222

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

as restated

£

£

Bank loans and overdrafts

50,000

13,679

Trade creditors

60,864

15,600

Tax

17,698

14,551

Social security and other taxes

19,726

19,699

Other creditors

2,281

3,426

Directors' current accounts

671

54,500

Accrued expenses

913

913

152,153

122,368

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.21

31.3.20

value:

as restated

£

£

1

Ordinary

£1

1

1

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £57,000 (2020 -£41,000) were paid to the director.

The director of KPP Search Ltd, Mr Edwards, is also a director and shareholder of KPP Search Pty Ltd.

During the year KPP Search Ltd charged management charge fees to KPP Search Pty Ltd of £74,904 (2020: £90,312) and KPP Search Pty Ltd charged revenue recharges of £67,442 (2020: £98,832) to KPP Search Ltd.

KPP Search Pty Ltd owed KPP Search Ltd £21,858 (2020: £48,448) at the balance sheet date.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P M Edwards.