Registered number
09862857
Kilcollum Limited
Filleted Accounts
30 November 2021
Kilcollum Limited
Registered number: 09862857
Balance Sheet
as at 30 November 2021
Notes 2021 2020
£ £
Fixed assets
Tangible assets 4 32,891 33,279
Current assets
Debtors 5 5,581 16,907
Cash at bank and in hand 4,847 16,513
10,428 33,420
Creditors: amounts falling due within one year 6 (27,358) (26,041)
Net current (liabilities)/assets (16,930) 7,379
Total assets less current liabilities 15,961 40,658
Creditors: amounts falling due after more than one year 7 (2,780) (6,111)
Provisions for liabilities (6,249) (6,323)
Net assets 6,932 28,224
Capital and reserves
Called up share capital 2 2
Profit and loss account 6,930 28,222
Shareholders' funds 6,932 28,224
The directors are 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 directors acknowledge their 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.
David Asher
Director
Approved by the board on 18.08.22
Kilcollum Limited
Notes to the Accounts
for the year ended 30 November 2021
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
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
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:
Vehicle over 5 years
Computers Over 4 years
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. 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.
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.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 4 4
3 Other operating income
The company received £4342 Job Retention Scheme Grant in the financial year 2021.
4 Tangible fixed assets
Land and buildings Computers Motor vehicles Total
£ £ £ £
Cost
At 1 December 2020 372 3,228 39,630 43,230
Additions - 4,761 6,038 10,799
At 30 November 2021 372 7,989 45,668 54,029
Depreciation
At 1 December 2020 112 1,913 7,926 9,951
Charge for the year 56 1,997 9,134 11,187
At 30 November 2021 168 3,910 17,060 21,138
Net book value
At 30 November 2021 204 4,079 28,608 32,891
At 30 November 2020 260 1,315 31,704 33,279
5 Debtors 2021 2020
£ £
Trade debtors 5,581 16,907
6 Creditors: amounts falling due within one year 2021 2020
£ £
Obligations under finance lease and hire purchase contracts 3,333 3,333
Trade creditors 3,345 629
Other taxes and social security costs 6,479 4,718
Other creditors 14,201 17,361
27,358 26,041
7 Creditors: amounts falling due after one year 2021 2020
£ £
Obligations under finance lease and hire purchase contracts 2,780 6,111
8 Controlling party
The company is controlled by Mr D Asher and Mrs A Asher
9 Other information
Kilcollum Limited is a private company limited by shares and incorporated in England. Its registered office is:
33 Pickard Crescent
Highgrove
Sheffield
S13 8EY
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