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Company No: SC423830 (Scotland)

K D L CARE LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 MARCH 2024
PAGES FOR FILING WITH THE REGISTRAR

K D L CARE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 MARCH 2024

Contents

K D L CARE LIMITED

BALANCE SHEET

AS AT 30 MARCH 2024
K D L CARE LIMITED

BALANCE SHEET (continued)

AS AT 30 MARCH 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 120,000 180,000
Tangible assets 4 1,588,061 1,591,206
1,708,061 1,771,206
Current assets
Stocks 5 6,000 5,460
Debtors 6 24,475 122,129
Cash at bank and in hand 7 2,565,764 1,959,320
2,596,239 2,086,909
Creditors: amounts falling due within one year 8 ( 768,629) ( 863,537)
Net current assets 1,827,610 1,223,372
Total assets less current liabilities 3,535,671 2,994,578
Net assets 3,535,671 2,994,578
Capital and reserves
Called-up share capital 10 110 110
Profit and loss account 3,535,561 2,994,468
Total shareholders' funds 3,535,671 2,994,578

For the financial year ending 30 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of K D L Care Limited (registered number: SC423830) were approved and authorised for issue by the Board of Directors on 29 July 2024. They were signed on its behalf by:

David Walker Kennedy
Director
K D L CARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 MARCH 2024
K D L CARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 MARCH 2024
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

K D L Care 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 C/O Johnston Carmichael Unit 2a, The Paddock, Stirling Agricultural Center, Stirling, FK9 4RN, Scotland, 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 £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.

Revenue is recognised when the company has entitlement to the income in exchange for the provision of services.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 5 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. This is reviewed on an annual basis and the directors deem amortisation should be applied from the year ending 30 March 2022.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than freehold land and buildings, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery etc. 4 - 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

No depreciation is provided in respect of freehold land and buildings. While the non-depreciation of buildings does not comply with the requirements of the Companies Act 2006, the directors are of the opinion that as the buildings have residual value and are well maintained, any depreciation would be immaterial and therefore it is not considered appropriate to depreciate the buildings.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

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

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.

Basic financial assets
Basic financial assets, which include debtors, cash and bank balances, are measured at transaction price including transaction costs.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

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.

Government grants

Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Provisions

Deferred tax provisions are recognised when the Company has a present obligation as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 52 49

3. Intangible assets

Goodwill Total
£ £
Cost
At 31 March 2023 300,000 300,000
At 30 March 2024 300,000 300,000
Accumulated amortisation
At 31 March 2023 120,000 120,000
Charge for the financial year 60,000 60,000
At 30 March 2024 180,000 180,000
Net book value
At 30 March 2024 120,000 120,000
At 30 March 2023 180,000 180,000

4. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 31 March 2023 1,563,500 89,079 1,652,579
Additions 5,502 0 5,502
Disposals 0 ( 13,768) ( 13,768)
At 30 March 2024 1,569,002 75,311 1,644,313
Accumulated depreciation
At 31 March 2023 0 61,373 61,373
Charge for the financial year 0 8,647 8,647
Disposals 0 ( 13,768) ( 13,768)
At 30 March 2024 0 56,252 56,252
Net book value
At 30 March 2024 1,569,002 19,059 1,588,061
At 30 March 2023 1,563,500 27,706 1,591,206

5. Stocks

2024 2023
£ £
Stocks 6,000 5,460

6. Debtors

2024 2023
£ £
Trade debtors 20,787 26,692
Deferred tax asset 3,688 2,488
Other debtors 0 92,949
24,475 122,129

7. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 2,565,764 1,959,320

8. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 6,201 4,681
Taxation and social security 202,999 146,237
Other creditors 559,429 712,619
768,629 863,537

9. Deferred tax

2024 2023
£ £
At the beginning of financial year 2,488 1,711
Credited to the Statement of Income and Retained Earnings 1,200 777
At the end of financial year 3,688 2,488

10. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
50 A Ordinary shares of £ 1.00 each 50 50
50 B Ordinary shares of £ 1.00 each 50 50
10 C Ordinary shares of £ 1.00 each 10 10
110 110

11. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 8,243 8,448
between one and five years 601 8,844
8,844 17,292