Kirkaldy & Roe Ltd 06021594 false 2021-01-01 2021-12-31 2021-12-31 The principal activity of the company is Development of building projects Digita Accounts Production Advanced 6.30.9574.0 true 06021594 2021-01-01 2021-12-31 06021594 2021-12-31 06021594 core:RetainedEarningsAccumulatedLosses 2021-12-31 06021594 core:ShareCapital 2021-12-31 06021594 core:CurrentFinancialInstruments 2021-12-31 06021594 core:CurrentFinancialInstruments core:WithinOneYear 2021-12-31 06021594 core:Non-currentFinancialInstruments core:AfterOneYear 2021-12-31 06021594 core:FurnitureFittingsToolsEquipment 2021-12-31 06021594 core:MotorVehicles 2021-12-31 06021594 core:OtherPropertyPlantEquipment 2021-12-31 06021594 bus:SmallEntities 2021-01-01 2021-12-31 06021594 bus:AuditExemptWithAccountantsReport 2021-01-01 2021-12-31 06021594 bus:FullAccounts 2021-01-01 2021-12-31 06021594 bus:SmallCompaniesRegimeForAccounts 2021-01-01 2021-12-31 06021594 bus:RegisteredOffice 2021-01-01 2021-12-31 06021594 bus:Director3 2021-01-01 2021-12-31 06021594 bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 06021594 core:ComputerEquipment 2021-01-01 2021-12-31 06021594 core:FurnitureFittingsToolsEquipment 2021-01-01 2021-12-31 06021594 core:MotorVehicles 2021-01-01 2021-12-31 06021594 core:OtherPropertyPlantEquipment 2021-01-01 2021-12-31 06021594 core:PlantMachinery 2021-01-01 2021-12-31 06021594 countries:EnglandWales 2021-01-01 2021-12-31 06021594 2020-12-31 06021594 core:FurnitureFittingsToolsEquipment 2020-12-31 06021594 core:MotorVehicles 2020-12-31 06021594 core:OtherPropertyPlantEquipment 2020-12-31 06021594 2020-01-01 2020-12-31 06021594 2020-12-31 06021594 core:RetainedEarningsAccumulatedLosses 2020-12-31 06021594 core:ShareCapital 2020-12-31 06021594 core:CurrentFinancialInstruments 2020-12-31 06021594 core:CurrentFinancialInstruments core:WithinOneYear 2020-12-31 06021594 core:Non-currentFinancialInstruments core:AfterOneYear 2020-12-31 06021594 core:FurnitureFittingsToolsEquipment 2020-12-31 06021594 core:MotorVehicles 2020-12-31 06021594 core:OtherPropertyPlantEquipment 2020-12-31 iso4217:GBP xbrli:pure

Company Registration number: 06021594

Kirkaldy & Roe Ltd

Annual Report and Unaudited
Financial Statements


for the Year Ended 31 December 2021

 

Kirkaldy & Roe Ltd

Contents

Pages

Balance sheet

1 to 2

Notes to the financial statements

3 to 8

 

Kirkaldy & Roe Ltd

Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

1,034,130

702,110

Current assets

 

Stocks

5

417,445

321,623

Debtors

6

241,256

113,010

Cash at bank and in hand

 

1,816,618

1,829,576

 

2,475,319

2,264,209

Creditors: Amounts falling due within one year

7

(1,025,979)

(825,190)

Net current assets

 

1,449,340

1,439,019

Total assets less current liabilities

 

2,483,470

2,141,129

Creditors: Amounts falling due after more than one year

7

(155,992)

(110,088)

Provisions for liabilities

(180,024)

(132,780)

Net assets

 

2,147,454

1,898,261

Capital and reserves

 

Called up share capital

102

102

Profit and loss account

2,147,352

1,898,159

Shareholders' funds

 

2,147,454

1,898,261

 

Kirkaldy & Roe Ltd

Balance Sheet as at 31 December 2021 (continued)

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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.

Company registration number: 06021594

Approved and authorised by the Board on 18 May 2022 and signed on its behalf by:
 

.........................................
Mr M Kirkaldy
Director

 

Kirkaldy & Roe Ltd

Notes to the financial statements for the Year Ended 31 December 2021

1

GENERAL INFORMATION

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Orchard Farm
Moorhouse
Carlisle
CA5 6EY
 

These financial statements were authorised for issue by the Board on 18 May 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.

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.

 

Kirkaldy & Roe Ltd

Notes to the financial statements for the Year Ended 31 December 2021 (continued)

2

ACCOUNTING POLICIES (continued)

Taxation

The tax expense for the period comprises 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 corporation 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.

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

Plant and machinery

15% reducing balance

Motor vehicles

25% reducing balance

Computer equipment

25% straight line

Stock and work in progress

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

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.

 

Kirkaldy & Roe Ltd

Notes to the financial statements for the Year Ended 31 December 2021 (continued)

2

ACCOUNTING POLICIES (continued)

Finance leases and hire purchase contracts

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 and hire purchase contracts 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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
 Recognition and measurement
Basic financial instruments are initially recognised at the transaction price.
 Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

 

Kirkaldy & Roe Ltd

Notes to the financial statements for the Year Ended 31 December 2021 (continued)

3

STAFF NUMBERS

The average number of persons employed by the company (including directors) during the year, was 26 (2020 - 23).

4

TANGIBLE ASSETS

Plant and machinery
£

Computer equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2021

961,614

21,065

201,901

1,184,580

Additions

435,027

2,713

117,580

555,320

Disposals

(61,344)

-

(21,000)

(82,344)

At 31 December 2021

1,335,297

23,778

298,481

1,657,556

Depreciation

At 1 January 2021

383,100

14,963

84,407

482,470

Charge for the year

138,460

3,813

53,573

195,846

Eliminated on disposal

(38,873)

-

(16,017)

(54,890)

At 31 December 2021

482,687

18,776

121,963

623,426

Carrying amount

At 31 December 2021

852,610

5,002

176,518

1,034,130

At 31 December 2020

578,514

6,102

117,494

702,110

 

Kirkaldy & Roe Ltd

Notes to the financial statements for the Year Ended 31 December 2021 (continued)

5

STOCK AND WORK IN PROGRESS

2021
£

2020
£

Work in progress

417,445

321,623

6

DEBTORS

2021
£

2020
£

Trade debtors

104,087

68,470

Other debtors

137,169

44,540

241,256

113,010

 

Kirkaldy & Roe Ltd

Notes to the financial statements for the Year Ended 31 December 2021 (continued)

7

CREDITORS

Creditors: amounts falling due within one year

2021
£

2020
£

Due within one year

 

Loans and borrowings

126,461

90,935

Trade creditors

 

348,658

186,044

Taxation and social security

 

33,575

24,015

Accruals and deferred income

 

37,148

36,496

Other creditors

 

3,889

34,590

Director loan accounts

 

476,248

453,110

 

1,025,979

825,190


Creditors include net obligations under finance lease and hire purchase contracts which are secured of £126,461 (2020 - £90,935).

Creditors: amounts falling due after more than one year

2021
£

2020
£

Due after one year

 

Loans and borrowings

155,992

110,088


Creditors include net obligations under finance lease and hire purchase contracts which are secured of £155,992 (2020 - £110,088).