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REGISTERED NUMBER: SC267049 (Scotland)















Report of the Director and

Unaudited Financial Statements for the Year Ended 31 March 2018

for

Kellytech Ltd.

Kellytech Ltd. (Registered number: SC267049)






Contents of the Financial Statements
for the Year Ended 31 March 2018




Page

Company Information 1

Report of the Director 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


Kellytech Ltd.

Company Information
for the Year Ended 31 March 2018







DIRECTOR: O Ulrichsen





SECRETARY: Mrs S Ulrichsen





REGISTERED OFFICE: Kellyside Cottage
Drum Road
Dollar
Clackmannanshire
FK14 7PG





REGISTERED NUMBER: SC267049 (Scotland)





ACCOUNTANTS: Sutherland Black
Chartered Accountants
8 Deer Park Avenue
Fairways Business Park
Livingston
West Lothian
EH54 8GA

Kellytech Ltd. (Registered number: SC267049)

Report of the Director
for the Year Ended 31 March 2018

The director presents his report with the financial statements of the company for the year ended 31 March 2018.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of Management
consultancy.

DIRECTOR
O Ulrichsen held office during the whole of the period from 1 April 2017 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act
2006 relating to small companies.

ON BEHALF OF THE BOARD:





O Ulrichsen - Director


10 September 2018

Kellytech Ltd. (Registered number: SC267049)

Income Statement
for the Year Ended 31 March 2018

2018 2017
Notes £    £    £    £   

TURNOVER 41,325 34,199

Cost of sales 2,449 1,734
GROSS PROFIT 38,876 32,465

Administrative expenses 18,885 25,565
19,991 6,900

Other operating income - 10,647
Gain/loss on revaluation of
investments

-

6,783
OPERATING PROFIT 4 19,991 24,330

Income from fixed asset investments 1,820 2,394
Interest receivable and similar
income

10

4
1,830 2,398
PROFIT BEFORE TAXATION 21,821 26,728

Tax on profit 3,825 2,778
PROFIT FOR THE FINANCIAL
YEAR

17,996

23,950

Kellytech Ltd. (Registered number: SC267049)

Balance Sheet
31 March 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 278 327
Investments 6 55,799 55,799
56,077 56,126

CURRENT ASSETS
Debtors 7 7,800 9,033
Cash at bank 8 52,284 48,476
60,084 57,509
CREDITORS
Amounts falling due within one year 9 38,988 34,473
NET CURRENT ASSETS 21,096 23,036
TOTAL ASSETS LESS CURRENT
LIABILITIES

77,173

79,162

PROVISIONS FOR LIABILITIES 10 53 38
NET ASSETS 77,120 79,124

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 12 77,020 79,024
SHAREHOLDERS' FUNDS 77,120 79,124

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Kellytech Ltd. (Registered number: SC267049)

Balance Sheet - continued
31 March 2018


The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 10 September 2018 and were signed
by:





O Ulrichsen - Director


Kellytech Ltd. (Registered number: SC267049)

Notes to the Financial Statements
for the Year Ended 31 March 2018

1. STATUTORY INFORMATION

Kellytech Ltd. is a private company, limited by shares , registered in Scotland. 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

Kellytech Ltd. (Registered number: SC267049)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2018

4. OPERATING PROFIT

The operating profit is stated after charging:

2018 2017
£    £   
Depreciation - owned assets 49 57

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2017
and 31 March 2018 1,055 2,866 3,921
DEPRECIATION
At 1 April 2017 728 2,866 3,594
Charge for year 49 - 49
At 31 March 2018 777 2,866 3,643
NET BOOK VALUE
At 31 March 2018 278 - 278
At 31 March 2017 327 - 327

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2017
and 31 March 2018 55,799
NET BOOK VALUE
At 31 March 2018 55,799
At 31 March 2017 55,799

Cost or valuation at 31 March 2018 is represented by:

Other
investments
£   
Cost 55,799

Kellytech Ltd. (Registered number: SC267049)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2018

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 7,800 9,033

8. CASH AT BANK
2018 2017
£    £   
Share Centre - cash held 42,684 42,684
Bank account no. 1 9,330 5,750
Bank account no. 2 270 42
52,284 48,476

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Tax 3,810 2,778
Social security and other taxes - 161
Other Creditors - S Ulrichsen 34,190 30,546
Accrued expenses 988 988
38,988 34,473

10. PROVISIONS FOR LIABILITIES
2018 2017
£    £   
Deferred tax 53 38

Deferred
tax
£   
Balance at 1 April 2017 38
Utilised during year 15
Balance at 31 March 2018 53

11. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2018 2017
value: £    £   
100 Ordinary £1 100 100

Kellytech Ltd. (Registered number: SC267049)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2018

12. RESERVES
Retained
earnings
£   

At 1 April 2017 79,024
Profit for the year 17,996
Dividends (20,000 )
At 31 March 2018 77,020

13. RELATED PARTY DISCLOSURES

At the balance sheet date the company owes Mrs S Ulrichsen £34,190 (2017 - £30,546). Mrs
S Ulrichsen is wife of the company's director Mr O Ulrichsen. This balance is included in
other creditors. There are no fixed repayment terms and interest is not payable on this
balance.