K-Scape Ltd NI629707 false 2021-04-01 2022-03-31 2022-03-31 The principal activity of the company is that of landscaping and groundworks Digita Accounts Production Advanced 6.30.9574.0 true NI629707 2021-04-01 2022-03-31 NI629707 2022-03-31 NI629707 bus:OrdinaryShareClass1 2022-03-31 NI629707 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-03-31 NI629707 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2022-03-31 NI629707 core:CurrentFinancialInstruments 2022-03-31 NI629707 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 NI629707 core:Non-currentFinancialInstruments 2022-03-31 NI629707 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 NI629707 core:LandBuildings 2022-03-31 NI629707 core:OtherPropertyPlantEquipment 2022-03-31 NI629707 bus:SmallEntities 2021-04-01 2022-03-31 NI629707 bus:AuditExemptWithAccountantsReport 2021-04-01 2022-03-31 NI629707 bus:FullAccounts 2021-04-01 2022-03-31 NI629707 bus:SmallCompaniesRegimeForAccounts 2021-04-01 2022-03-31 NI629707 bus:RegisteredOffice 2021-04-01 2022-03-31 NI629707 bus:Director1 2021-04-01 2022-03-31 NI629707 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 NI629707 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 NI629707 core:LandBuildings 2021-04-01 2022-03-31 NI629707 core:OtherPropertyPlantEquipment 2021-04-01 2022-03-31 NI629707 core:PlantMachinery 2021-04-01 2022-03-31 NI629707 countries:NorthernIreland 2021-04-01 2022-03-31 NI629707 2020-04-01 2021-03-31 NI629707 2021-03-31 NI629707 bus:OrdinaryShareClass1 2021-03-31 NI629707 core:HirePurchaseContracts core:CurrentFinancialInstruments 2021-03-31 NI629707 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2021-03-31 NI629707 core:CurrentFinancialInstruments 2021-03-31 NI629707 core:CurrentFinancialInstruments core:WithinOneYear 2021-03-31 NI629707 core:Non-currentFinancialInstruments 2021-03-31 NI629707 core:Non-currentFinancialInstruments core:AfterOneYear 2021-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI629707

K-Scape Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2022

 

K-Scape Ltd

(Registration number: NI629707)
Balance Sheet as at 31 March 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

153,672

-

Current assets

 

Debtors

5

7,134

-

Cash at bank and in hand

 

21,671

1

 

28,805

1

Creditors: Amounts falling due within one year

6

(106,791)

-

Net current (liabilities)/assets

 

(77,986)

1

Total assets less current liabilities

 

75,686

1

Creditors: Amounts falling due after more than one year

6

(59,366)

-

Provisions for liabilities

(3,481)

-

Net assets

 

12,839

1

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

12,838

-

Shareholders' funds

 

12,839

1

For the financial year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 16 August 2022
 

 

K-Scape Ltd

(Registration number: NI629707)
Balance Sheet as at 31 March 2022

.........................................
Mr Kieran McAlister
Director

 

K-Scape Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 228 Garryduff Rd, Dunloy, Ballymena, Antrim, BT44 9EE.

These financial statements were authorised for issue by the director on 16 August 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

K-Scape Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

4% straight line basis

Plant and machinery

15% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

K-Scape Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2021 - 1).

 

K-Scape Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

4

Tangible assets

Land and buildings
£

Plant & machinery
£

Total
£

Cost or valuation

Additions

5,007

190,859

195,866

Disposals

-

(22,000)

(22,000)

At 31 March 2022

5,007

168,859

173,866

Depreciation

Charge for the year

200

19,994

20,194

At 31 March 2022

200

19,994

20,194

Carrying amount

At 31 March 2022

4,807

148,865

153,672

5

Debtors

2022
£

2021
£

Trade debtors

6,550

-

Prepayments

333

-

Other debtors

251

-

 

7,134

-

6

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

8

24,973

-

Trade creditors

 

2,264

-

Accruals and deferred income

 

6,950

-

Other creditors

 

72,604

-

 

106,791

-

 

K-Scape Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

7

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1

         

8

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Bank borrowings

24,905

-

Hire purchase contracts

34,461

-

59,366

-

2022
£

2021
£

Current loans and borrowings

Bank borrowings

3,744

-

Hire purchase contracts

21,229

-

24,973

-

9

Related party transactions

2022
£

2021
 £

Directors current account

72,604

-