Company Registration No. SC487975 (Scotland)
KMS (Highland) Ltd
Unaudited accounts
for the year ended 31 October 2023
KMS (Highland) Ltd
Unaudited accounts
Contents
KMS (Highland) Ltd
Company Information
for the year ended 31 October 2023
Directors
Harry Armstrong
Myra Armstrong
Company Number
SC487975 (Scotland)
Registered Office
CORRACHIE HILL COTTAGE
ROSEHAUGH
AVOCH
ROSS SHIRE
IV9 8RP
UNITED KINGDOM
Accountants
Kerry Mackinnon
Signature Accounting Solutions Ltd
93 Suilven Way
Inverness
Highland
IV3 8PE
KMS (Highland) Ltd
Statement of financial position
as at 31 October 2023
Tangible assets
36,625
4,472
Cash at bank and in hand
4,018
823
Creditors: amounts falling due within one year
(10,450)
(4,592)
Net current liabilities
(6,432)
(3,769)
Total assets less current liabilities
30,193
703
Creditors: amounts falling due after more than one year
(8,122)
-
Called up share capital
10
10
Profit and loss account
22,061
693
Shareholders' funds
22,071
703
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by
Harry Armstrong
Director
Company Registration No. SC487975
KMS (Highland) Ltd
Notes to the Accounts
for the year ended 31 October 2023
KMS (Highland) Ltd is a private company, limited by shares, registered in Scotland, registration number SC487975. The registered office is CORRACHIE HILL COTTAGE , ROSEHAUGH, AVOCH, ROSS SHIRE, IV9 8RP, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33% straight line
Motor vehicles
25% reducing balance
Computer equipment
33% reducing balance
Other tangible fixed assets
33% straight line
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
KMS (Highland) Ltd
Notes to the Accounts
for the year ended 31 October 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 November 2022
1,800
6,500
-
2,484
10,784
Additions
-
44,831
169
1,638
46,638
At 31 October 2023
1,800
51,331
169
4,122
57,422
At 1 November 2022
600
3,758
-
1,954
6,312
Charge for the year
600
12,833
56
996
14,485
At 31 October 2023
1,200
16,591
56
2,950
20,797
At 31 October 2023
600
34,740
113
1,172
36,625
At 31 October 2022
1,200
2,742
-
530
4,472
5
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
-
2,171
Loans from directors
10,000
1,971
Value includes Corporation Tax and an Accrual
6
Creditors: amounts falling due after more than one year
2023
2022
Loans from directors
8,122
-
7
Average number of employees
During the year the average number of employees was 0 (2022: 0).