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REGISTERED NUMBER: SC277224 (Scotland)






































Ken Hope (Kelso) Limited

Unaudited Financial Statements

for the Year Ended 31st December 2023






Ken Hope (Kelso) Limited (Registered number: SC277224)






Contents of the Financial Statements
for the year ended 31st December 2023




Page

Company information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 6


Ken Hope (Kelso) Limited

Company Information
for the year ended 31st December 2023







Directors: K J Hope
Mrs B M Hope





Secretary: Mrs B M Hope





Registered office: Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL





Business address: Maxwellheugh
Kelso
Roxburghshire
TD5 8DQ





Registered number: SC277224 (Scotland)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

Ken Hope (Kelso) Limited (Registered number: SC277224)

Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - -
Tangible assets 5 65,820 66,312
65,820 66,312

Current assets
Stocks 445,026 360,534
Debtors 6 125,495 117,598
Cash at bank and in hand 263,210 259,253
833,731 737,385
Creditors
Amounts falling due within one year 7 182,771 171,361
Net current assets 650,960 566,024
Total assets less current liabilities 716,780 632,336

Provisions for liabilities 12,506 12,599
Net assets 704,274 619,737

Capital and reserves
Called up share capital 100 100
Retained earnings 704,174 619,637
Shareholders' funds 704,274 619,737

Ken Hope (Kelso) Limited (Registered number: SC277224)

Balance Sheet - continued
31st December 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

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.

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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22nd February 2024 and were signed on its behalf by:





K J Hope - Director


Ken Hope (Kelso) Limited (Registered number: SC277224)

Notes to the Financial Statements
for the year ended 31st December 2023

1. Statutory information

Ken Hope (Kelso) 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
Turnover represents the total invoice value, excluding value added tax, of sales invoiced during the year. Turnover arising from the sale of goods and services is recognised when the significant risks and rewards of ownership have passed to the buyer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, has been amortised fully over its estimated useful life of ten years.

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.

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.
Improvements to property - 10% on cost
Plant and machinery - 10% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Stocks
Stock is valued at the lower of cost and net realisable value. Cost includes all direct expenditure and appropriate proportion of fixed and variable overheads. Net realisable value is based on estimated selling prices less further costs expected to be incurred in bringing the stock to completion.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, accruals and directors' loans and shareholder loan.

Directors' loans and shareholder loan (being repayable on demand), trade debtors, trade creditors and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at 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 Income and Retained Earnings.


Ken Hope (Kelso) Limited (Registered number: SC277224)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

2. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably.

Employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred.

Going concern
The directors have considered the company's financial position for a minimum period of 12 months and beyond from the date of signing these financial statements and has an expectation that the company should be in a position to continue trading in the current format for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.

3. Employees and directors

The average number of employees during the year was 12 (2022 - 12 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1st January 2023
and 31st December 2023 65,600
Amortisation
At 1st January 2023
and 31st December 2023 65,600
Net book value
At 31st December 2023 -
At 31st December 2022 -

Ken Hope (Kelso) Limited (Registered number: SC277224)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

5. Tangible fixed assets
Improvements
to Plant and
property machinery Totals
£    £    £   
Cost
At 1st January 2023 32,271 66,584 98,855
Additions - 6,669 6,669
At 31st December 2023 32,271 73,253 105,524
Depreciation
At 1st January 2023 3,227 29,316 32,543
Charge for year 3,227 3,934 7,161
At 31st December 2023 6,454 33,250 39,704
Net book value
At 31st December 2023 25,817 40,003 65,820
At 31st December 2022 29,044 37,268 66,312

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 118,521 108,238
Other debtors 6,974 9,360
125,495 117,598

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 28,615 42,200
Taxation and social security 74,328 52,857
Other creditors 79,828 76,304
182,771 171,361

8. Post balance sheet events

Since the year end, on 21st February 2024, a final dividend for the year ended 31st December 2023 of £360 per share has been declared.