KONRAD DEVELOPMENTS LTD

KONRAD DEVELOPMENTS LTD

KONRAD DEVELOPMENTS LTD - Company Information

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KONRAD DEVELOPMENTS LTD

Company Registration Number:
NI038829 (Northern Ireland)

Unaudited abridged accounts for the year ended 30 June 2022

Period of accounts

Start date: 01 July 2021

End date: 30 June 2022

KONRAD DEVELOPMENTS LTD

Contents of the Financial Statements

for the Period Ended 30 June 2022

Balance sheet
Notes

KONRAD DEVELOPMENTS LTD

Balance sheet

As at 30 June 2022


Notes
2022
2021


£
£
Fixed assets
Tangible assets: 3 321,457 311,260
Total fixed assets: 321,457 311,260
Current assets
Stocks: 3,280,204 1,975,657
Debtors:   444,296 430,530
Cash at bank and in hand: 2,330,620 3,488,650
Total current assets: 6,055,120 5,894,837
Net current assets (liabilities): 6,055,120 5,894,837
Total assets less current liabilities: 6,376,577 6,206,097
Creditors: amounts falling due after more than one year:   (122,152) (169,485)
Total net assets (liabilities): 6,254,425 6,036,612
Capital and reserves
Called up share capital: 2 2
Profit and loss account: 6,254,423 6,036,610
Shareholders funds: 6,254,425 6,036,612

The notes form part of these financial statements

KONRAD DEVELOPMENTS LTD

Balance sheet statements

For the year ending 30 June 2022 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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 & loss account.

This report was approved by the board of directors on 18 April 2023
and signed on behalf of the board by:

Name: Conrad Haughian
Status: Director

The notes form part of these financial statements

KONRAD DEVELOPMENTS LTD

Notes to the Financial Statements

for the Period Ended 30 June 2022

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover comprises the invoice value of goods and services supplied by the company, exclusive of trade discounts and value added tax. The overwhelming majority of the turnover is generated from the principal activity carried out in Ireland. Only a minimal amount of turnover is generated in the UK.

Tangible fixed assets and depreciation policy

Tangible assets are stated at cost or at valuation less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets less their estimated residual value over their expected useful lives as follows. Land and buildings freehold not depreciated. Plant and machinery twenty percent reducing balance. Fixtures fittings and equipment twenty percent reducing balance. Motor vehicles twenty percent reducing balance. The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Valuation and information policy

Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first in first out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price net of trade discounts less all further costs to completion or to be incurred in marketing and selling.

Other accounting policies

Trade and other debtorsTrade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.Trade and other creditorsTrade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method unless the effect of discounting would be immaterial in which case they are stated at cost.TaxationCurrent tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.Foreign currenciesMonetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.Ordinary share capitalThe ordinary share capital of the company is presented as equity.

KONRAD DEVELOPMENTS LTD

Notes to the Financial Statements

for the Period Ended 30 June 2022

2. Employees

2022 2021
Average number of employees during the period 5 5

KONRAD DEVELOPMENTS LTD

Notes to the Financial Statements

for the Period Ended 30 June 2022

3. Tangible Assets

Total
Cost £
At 01 July 2021 441,872
Additions 40,036
At 30 June 2022 481,908
Depreciation
At 01 July 2021 130,612
Charge for year 29,839
At 30 June 2022 160,451
Net book value
At 30 June 2022 321,457
At 30 June 2021 311,260

KONRAD DEVELOPMENTS LTD

Notes to the Financial Statements

for the Period Ended 30 June 2022

4. Financial commitments

The company had no material capital commitments at the financial year end 30 June 2022.

KONRAD DEVELOPMENTS LTD

Notes to the Financial Statements

for the Period Ended 30 June 2022

5. Post balance sheet events

There have been no significant events affecting the company since the financial year end.