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REGISTERED NUMBER: SC539832 (Scotland)




















Ksl New Town Limited

Unaudited Financial Statements

for the Year Ended 31 July 2023






Ksl New Town Limited (Registered number: SC539832)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ksl New Town Limited

Company Information
for the Year Ended 31 July 2023







DIRECTOR: Mr K P Chan



REGISTERED OFFICE: 9 Ainslie Place
Edinburgh
EH3 6AT



REGISTERED NUMBER: SC539832 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: HSBC
76 Hanover Street
Edinburgh
EH2 1EL

Ksl New Town Limited (Registered number: SC539832)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,950 6,800
Tangible assets 5 41,469 14,618
47,419 21,418

CURRENT ASSETS
Stocks 3,500 3,500
Debtors 6 6,007 3,492
Cash at bank and in hand 31,846 65,506
41,353 72,498
CREDITORS
Amounts falling due within one year 7 50,864 49,256
NET CURRENT (LIABILITIES)/ASSETS (9,511 ) 23,242
TOTAL ASSETS LESS CURRENT
LIABILITIES

37,908

44,660

CREDITORS
Amounts falling due after more than
one year

8

(8,478

)

(20,783

)

PROVISIONS FOR LIABILITIES (7,879 ) (3,655 )
NET ASSETS 21,551 20,222

Ksl New Town Limited (Registered number: SC539832)

Balance Sheet - continued
31 July 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 21,451 20,122
21,551 20,222

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

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 21 February 2024 and were signed by:





Mr K P Chan - Director


Ksl New Town Limited (Registered number: SC539832)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Ksl New Town Limited 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.

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.

Turnover and revenue recognition
Turnover, which represents net invoiced sales of goods exclusive of value added tax, is recognised at the point when a meal is served or delivered to the customer.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Lease premium are being amortised evenly over their estimated useful life of fourteen years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on cost and 20% on cost

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.


Ksl New Town Limited (Registered number: SC539832)

Notes to the Financial Statements - continued
for the Year Ended 31 July 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.

Provision for liabilities
Provisions are recognised where the company has a present obligation as a result of a past event, it is probable the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 August 2022
and 31 July 2023 11,900
AMORTISATION
At 1 August 2022 5,100
Charge for year 850
At 31 July 2023 5,950
NET BOOK VALUE
At 31 July 2023 5,950
At 31 July 2022 6,800

Ksl New Town Limited (Registered number: SC539832)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022 71,640
Additions 52,087
At 31 July 2023 123,727
DEPRECIATION
At 1 August 2022 57,022
Charge for year 25,236
At 31 July 2023 82,258
NET BOOK VALUE
At 31 July 2023 41,469
At 31 July 2022 14,618

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 6,007 3,492

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 4,266 6,784
Trade creditors 2,145 3,581
Taxation and social security 17,427 27,346
Other creditors 27,026 11,545
50,864 49,256

The director's current account is unsecured, interest free and has no fixed repayment period.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 8,478 20,783