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Company No: SC476452 (Scotland)

KINETICS CONTROLS AND INNOVATION (HOLDINGS) LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2023
PAGES FOR FILING WITH THE REGISTRAR

KINETICS CONTROLS AND INNOVATION (HOLDINGS) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2023

Contents

KINETICS CONTROLS AND INNOVATION (HOLDINGS) LIMITED

BALANCE SHEET

AS AT 31 AUGUST 2023
KINETICS CONTROLS AND INNOVATION (HOLDINGS) LIMITED

BALANCE SHEET (continued)

AS AT 31 AUGUST 2023
Note 2023 2022
£ £
Fixed assets
Investments 3 800 700
800 700
Creditors: amounts falling due within one year 4 ( 100) 0
Net current liabilities (100) 0
Total assets less current liabilities 700 700
Net assets 700 700
Capital and reserves
Called-up share capital 5 700 700
Total shareholder's funds 700 700

For the financial year ending 31 August 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Kinetics Controls and Innovation (Holdings) Limited (registered number: SC476452) were approved and authorised for issue by the Director on 24 January 2024. They were signed on its behalf by:

Roy Mackenzie
Director
KINETICS CONTROLS AND INNOVATION (HOLDINGS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2023
KINETICS CONTROLS AND INNOVATION (HOLDINGS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Kinetics Controls and Innovation (Holdings) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 28 Albyn Place, Aberdeen, AB10 1YL, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Fixed asset investments

Interests in subsidiaries and associates are initially measured at cost and subsequently measured at cost less accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets which include debtors are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities including creditors are initially recognised at transaction price.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Group Accounts

The financial statements present information about the company as an individual and not about its group. The company has not prepared group financial statements as it is exempt from the requirement to do so by virtue of its size.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Fixed asset investments

2023 2022
£ £
Subsidiary undertakings 800 700

Investments in subsidiaries

2023
£
Cost
At 01 September 2022 700
Additions 100
At 31 August 2023 800
Carrying value at 31 August 2023 800
Carrying value at 31 August 2022 700

4. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to own subsidiaries 100 0

5. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
700 Ordinary shares shares of £ 1.00 each 700 700

6. Subsidiaries

Details of the Company's subsidiaries at 31 August 2023 are as follows:

Kinetics Controls and Innovation Limited - 100%
Kinetics Controls and Innovation (Europe) Limited - 100%