Registered number
SC392758
KAGE Solutions Limited
Unaudited Filleted Accounts
28 February 2018
KAGE Solutions Limited
Registered number: SC392758
Balance Sheet
as at 28 February 2018
Notes 2018 2017
£ £
Fixed assets
Tangible assets 3 - 469
Current assets
Debtors 4 15,119 11,180
Cash at bank and in hand 74,450 66,403
89,569 77,583
Creditors: amounts falling due within one year 5 (26,906) (28,638)
Net current assets 62,663 48,945
Net assets 62,663 49,414
Capital and reserves
Called up share capital 100 100
Profit and loss account 62,563 49,314
Shareholders' funds 62,663 49,414
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Gary Murchison
Director
Approved by the board on 9 November 2018
KAGE Solutions Limited
Notes to the Accounts
for the year ended 28 February 2018
1 Accounting policies
Basis of preparation
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).
Turnover - Services
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment 33% Straight line
Bicycle 20% Straight line
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2018 2017
Number Number
Average number of persons employed by the company including paid directors and office holders 2 2
3 Tangible fixed assets
Equipment
£
Cost
At 1 March 2017 4,306
Disposals (849)
At 28 February 2018 3,457
Depreciation
At 1 March 2017 3,837
Charge for the year 469
On disposals (849)
At 28 February 2018 3,457
Net book value
At 28 February 2018 -
At 28 February 2017 469
4 Debtors 2018 2017
£ £
Trade debtors 12,000 11,080
Other debtors 3,119 100
15,119 11,180
5 Creditors: amounts falling due within one year 2018 2017
£ £
Trade creditors 78 91
Corporation tax 20,218 22,116
Other taxes and social security costs 6,610 6,015
Director's current account - 416
26,906 28,638
6 Controlling party
The company is controlled by Mr & Mrs Murchision by virtue of their combined holdings.
7 Other information
KAGE Solutions Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
10 Sommers Park
Mid Calder
Livingston
West Lothian
EH53 0RZ
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