REGISTERED NUMBER: |
KH-DMP Company Limited |
Unaudited Financial Statements |
for the Year Ended 28 February 2023 |
REGISTERED NUMBER: |
KH-DMP Company Limited |
Unaudited Financial Statements |
for the Year Ended 28 February 2023 |
KH-DMP Company Limited (Registered number: SC527832) |
Contents of the Financial Statements |
for the Year Ended 28 February 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
KH-DMP Company Limited |
Company Information |
for the Year Ended 28 February 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
9 Ainslie Place |
Edinburgh |
Midlothian |
EH3 6AT |
BANKERS: |
15a, Cameron Toll Shopping Centre |
6 Lady Road |
Edinburgh |
EH16 5PB |
KH-DMP Company Limited (Registered number: SC527832) |
Balance Sheet |
28 February 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 8 |
Retained earnings | ( |
) | ( |
) |
The directors acknowledge their 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. |
KH-DMP Company Limited (Registered number: SC527832) |
Balance Sheet - continued |
28 February 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
KH-DMP Company Limited (Registered number: SC527832) |
Notes to the Financial Statements |
for the Year Ended 28 February 2023 |
1. | STATUTORY INFORMATION |
KH-DMP Company Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover and revenue recognition |
Turnover represents room letting and related services invoiced, excluding value added tax. Revenue is recognised when the services have been provided to the customer. |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. |
All loans with related parties are all repayable on demand. |
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. |
KH-DMP Company Limited (Registered number: SC527832) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 March 2022 |
Additions |
Revaluations |
At 28 February 2023 |
DEPRECIATION |
At 1 March 2022 |
Charge for year |
At 28 February 2023 |
NET BOOK VALUE |
At 28 February 2023 |
At 28 February 2022 |
KH-DMP Company Limited (Registered number: SC527832) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2023 |
4. | TANGIBLE FIXED ASSETS - continued |
Cost or valuation at 28 February 2023 is represented by: |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Valuation in 2023 | 190,850 | - | 190,850 |
Cost | 661,564 | 5,550 | 667,114 |
852,414 | 5,550 | 857,964 |
If freehold property had not been revalued it would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 661,564 | 661,564 |
Aggregate depreciation | 79,395 | 66,163 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
The directors' current accounts are unsecured and has no fixed term of repayment. |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 233,036 | 275,422 |
KH-DMP Company Limited (Registered number: SC527832) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2023 |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loan | 323,385 | 332,548 |
The bank loan are secured by a floating charge over the assets of the company. |
8. | RESERVES |
Revaluation |
reserve |
£ |
Transfer | 190,850 |
At 28 February 2023 |
9. | GOING CONCERN |
The financial statements have been prepared on the going concern principal which assumes that the company will continue to function in the foreseeable future. In order to do so the company will require the continued support of its directors, bankers and creditors. |