Registered number
NI670627
Kiltybane International Ltd
Filleted Accounts
30 June 2023
Kiltybane International Ltd
Registered number: NI670627
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 7,716 8,550
Current assets
Debtors 4 - 4,895
Cash at bank and in hand 119 119
119 5,014
Creditors: amounts falling due within one year 5 (11,552) (16,448)
Net current liabilities (11,433) (11,434)
Net liabilities (3,717) (2,884)
Capital and reserves
Profit and loss account (3,717) (2,884)
Shareholder's funds (3,717) (2,884)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Darren Patrick Rice
Director
Approved by the board on 31 March 2024
Kiltybane International Ltd
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Motor vehicles
£
Cost
At 1 July 2022 9,000
At 30 June 2023 9,000
Depreciation
At 1 July 2022 450
Charge for the year 834
At 30 June 2023 1,284
Net book value
At 30 June 2023 7,716
At 30 June 2022 8,550
4 Debtors 2023 2022
£ £
Other debtors - 4,895
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 1,623 1,623
Taxation and social security costs - 165
Other creditors 9,929 14,660
11,552 16,448
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