1 January 2022 v2023.23.2 limited_company_frs_102_section_1a_v1_1_0 companies_houseSoftwarefalsetruetruetrueNo description of principal activitytruexbrli:purexbrli:sharesiso4217:GBPSC6487612022-01-012022-12-31SC6487612022-12-31SC6487612021-12-31SC648761core:WithinOneYear2022-12-31SC648761core:WithinOneYear2021-12-31SC648761core:AfterOneYear2022-12-31SC648761core:AfterOneYear2021-12-31SC648761core:ShareCapital2022-12-31SC648761core:ShareCapital2021-12-31SC648761core:RetainedEarningsAccumulatedLosses2022-12-31SC648761core:RetainedEarningsAccumulatedLosses2021-12-31SC648761bus:Director12022-01-012022-12-31SC648761bus:RegisteredOffice2022-01-012022-12-31SC648761core:MotorVehicles2022-01-012022-12-31SC648761core:OfficeEquipment2022-01-012022-12-31SC6487612021-01-012021-12-31SC648761core:PlantMachinery2022-12-31SC648761core:PlantMachinery2022-01-01SC648761core:PlantMachinery2022-01-012022-12-31SC648761core:PlantMachinery2021-12-31SC64876112022-01-012022-12-31SC648761countries:Scotland2022-01-012022-12-31SC648761bus:AuditExemptWithAccountantsReport2022-01-012022-12-31SC648761bus:PrivateLimitedCompanyLtd2022-01-012022-12-31SC648761bus:SmallEntities2022-01-012022-12-31SC648761bus:FullAccounts2022-01-012022-12-31
Company registration number:
SC648761
KK Plumbing & Heating Ltd
Unaudited Filleted Financial Statements for the year ended
31 December 2022
KK Plumbing & Heating Ltd
Report to the board of directors on the preparation of the unaudited statutory financial statements of KK Plumbing & Heating Ltd
Year ended
31 December 2022
As described on the statement of financial position, the Board of Directors of
KK Plumbing & Heating Ltd
are responsible for the preparation of the
financial statements
for the year ended
31 December 2022
, which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
NKA Chartered Certified Accountants
4 Lynedoch Place
Glasgow
G3 6AB
United Kingdom
Date:
18 October 2023
KK Plumbing & Heating Ltd
Statement of Financial Position
31 December 2022
20222021
Note££
Fixed assets    
Tangible assets 5
11,652
 
14,330
 
Current assets    
Debtors 6
21,557
 
5,522
 
Cash at bank and in hand
1,358
 
13,317
 
22,915
 
18,839
 
Creditors: amounts falling due within one year 7
(16,076
)
(12,177
)
Net current assets
6,839
 
6,662
 
Total assets less current liabilities 18,491   20,992  
Creditors: amounts falling due after more than one year 8
(18,443
)
(20,972
)
Net assets
48
 
20
 
Capital and reserves    
Called up share capital
1
 
1
 
Profit and loss account
47
 
19
 
Shareholders funds
48
 
20
 
For the year ending
31 December 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 financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
18 October 2023
, and are signed on behalf of the board by:
Kevin Taylor
Director
Company registration number:
SC648761
KK Plumbing & Heating Ltd
Notes to the Financial Statements
Year ended
31 December 2022

1 General information

The company is a private company limited by shares and is registered in Scotland. The address of the registered office is
342 Broomfield Road
,
Glasgow
,
G21 3UX
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Motor vehicles
15% straight line
Office equipment
15% straight line

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the entity will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

4 Average number of employees

The average number of persons employed by the company during the year was
2
(2021:
2.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 January 2022
and
31 December 2022
17,851
 
Depreciation  
At
1 January 2022
3,521
 
Charge
2,678
 
At
31 December 2022
6,199
 
Carrying amount  
At
31 December 2022
11,652
 
At 31 December 2021
14,330
 

6 Debtors

20222021
££
Trade debtors -  
505
 
Other debtors
21,557
 
5,017
 
21,557
 
5,522
 

7 Creditors: amounts falling due within one year

20222021
££
Bank loans and overdrafts
1,638
 
3,750
 
Trade creditors
2,020
 
906
 
Taxation and social security
8,712
 
3,815
 
Other creditors
3,706
 
3,706
 
16,076
 
12,177
 

8 Creditors: amounts falling due after more than one year

20222021
££
Bank loans and overdrafts
12,118
 
11,250
 
Other creditors
6,325
 
9,722
 
18,443
 
20,972