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REGISTERED NUMBER: SC359127 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

RK PROPERTIES (SCOTLAND) LTD.

RK PROPERTIES (SCOTLAND) LTD. (REGISTERED NUMBER: SC359127)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RK PROPERTIES (SCOTLAND) LTD.

COMPANY INFORMATION
for the Year Ended 30 June 2023







DIRECTOR: R Kennedy





SECRETARY: Mrs D M Kennedy





REGISTERED OFFICE: 9 Glasgow Road
Paisley
PA1 3QS





REGISTERED NUMBER: SC359127 (Scotland)





ACCOUNTANTS: John M Taylor & Co
Chartered Accountants
9 Glasgow Road
PAISLEY
Renfrewshire
PA1 3QS

RK PROPERTIES (SCOTLAND) LTD. (REGISTERED NUMBER: SC359127)

BALANCE SHEET
30 June 2023

30.6.22 30.6.23
£    £    Notes £    £   
FIXED ASSETS
5,980 Tangible assets 4 4,855

CURRENT ASSETS
54,940 Debtors 5 72,469
166,727 Cash at bank 4,137
221,667 76,606
CREDITORS
252,576 Amounts falling due within one year 6 144,703
(30,909 ) NET CURRENT LIABILITIES (68,097 )
(24,929 ) TOTAL ASSETS LESS CURRENT
LIABILITIES

(63,242

)

CREDITORS
29,167 Amounts falling due after more than one
year

7

19,167
(54,096 ) NET LIABILITIES (82,409 )

CAPITAL AND RESERVES
100 Called up share capital 100
(54,196 ) Retained earnings (82,509 )
(54,096 ) SHAREHOLDERS' FUNDS (82,409 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

RK PROPERTIES (SCOTLAND) LTD. (REGISTERED NUMBER: SC359127)

BALANCE SHEET - continued
30 June 2023


The 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.

The financial statements were approved by the director and authorised for issue on 24 January 2024 and were signed by:





R Kennedy - Director


RK PROPERTIES (SCOTLAND) LTD. (REGISTERED NUMBER: SC359127)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

RK Properties (Scotland) Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The shareholders have confirmed their continued support.

The company therefore continues to adopt the going concern basis in preparing its financial statements.

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

Turnover
Turnover represents sales of real estate and work done, excluding value added tax.

Contract revenue, described as turnover, is recognised when and to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant & machinery - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and
accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.


RK PROPERTIES (SCOTLAND) LTD. (REGISTERED NUMBER: SC359127)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation represents the sum of tax currently payable and deferred tax on a non discounted basis.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period which the liability is settled or the asset is realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Debtors
Debtors include the value of contractual work in progress.

Cash & cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Financial instruments
The company mainly enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from banks and other third parties and loans to and from related parties.

Debt instruments that are payable or receivable within one year, typically trade debtors or creditors, are measured, initially and subsequently at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of comprehensive income.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 3 ) .

RK PROPERTIES (SCOTLAND) LTD. (REGISTERED NUMBER: SC359127)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

4. TANGIBLE FIXED ASSETS
Plant & Motor Computer
Totals machinery vehicles equipment
£    £    £    £   
COST
At 1 July 2022 24,932 643 22,558 1,731
Additions 921 - - 921
At 30 June 2023 25,853 643 22,558 2,652
DEPRECIATION
At 1 July 2022 18,952 129 17,428 1,395
Charge for year 2,046 128 1,282 636
At 30 June 2023 20,998 257 18,710 2,031
NET BOOK VALUE
At 30 June 2023 4,855 386 3,848 621
At 30 June 2022 5,980 514 5,130 336

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 24,981 15,938
Amounts owed by associates 40,412 -
Other debtors 7,076 39,002
72,469 54,940

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 936 12,333
Taxation and social security - 114
Other creditors 133,767 230,129
144,703 252,576

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Bank loans 19,167 29,167

8. RELATED PARTY DISCLOSURES

At the balance sheet date there was a balance of £130,940 (2022 £213,538) due to a shareholder. This loan is interest free, is repayable on demand and has no fixed repayment terms.

9. ULTIMATE CONTROLLING PARTY

R Kennedy (director) and D M Kennedy each own 50% of the issued share capital of the company.