Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-31true202022-11-01falseNo description of principal activity20trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC485068 2022-11-01 2023-10-31 SC485068 2021-11-01 2022-10-31 SC485068 2023-10-31 SC485068 2022-10-31 SC485068 c:Director1 2022-11-01 2023-10-31 SC485068 c:Director2 2022-11-01 2023-10-31 SC485068 c:Director3 2022-11-01 2023-10-31 SC485068 c:Director3 2023-10-31 SC485068 c:RegisteredOffice 2022-11-01 2023-10-31 SC485068 d:Buildings 2022-11-01 2023-10-31 SC485068 d:Buildings 2023-10-31 SC485068 d:Buildings 2022-10-31 SC485068 d:Buildings d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 SC485068 d:PlantMachinery 2022-11-01 2023-10-31 SC485068 d:PlantMachinery 2023-10-31 SC485068 d:PlantMachinery 2022-10-31 SC485068 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 SC485068 d:MotorVehicles 2022-11-01 2023-10-31 SC485068 d:MotorVehicles 2023-10-31 SC485068 d:MotorVehicles 2022-10-31 SC485068 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 SC485068 d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 SC485068 d:Goodwill 2023-10-31 SC485068 d:Goodwill 2022-10-31 SC485068 d:CurrentFinancialInstruments 2023-10-31 SC485068 d:CurrentFinancialInstruments 2022-10-31 SC485068 d:Non-currentFinancialInstruments 2023-10-31 SC485068 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 SC485068 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 SC485068 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 SC485068 d:Non-currentFinancialInstruments d:AfterOneYear 2022-10-31 SC485068 d:ShareCapital 2023-10-31 SC485068 d:ShareCapital 2022-10-31 SC485068 d:RetainedEarningsAccumulatedLosses 2023-10-31 SC485068 d:RetainedEarningsAccumulatedLosses 2022-10-31 SC485068 c:OrdinaryShareClass1 2022-11-01 2023-10-31 SC485068 c:OrdinaryShareClass1 2023-10-31 SC485068 c:OrdinaryShareClass1 2022-10-31 SC485068 c:FRS102 2022-11-01 2023-10-31 SC485068 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 SC485068 c:FullAccounts 2022-11-01 2023-10-31 SC485068 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 SC485068 2 2022-11-01 2023-10-31 SC485068 e:PoundSterling 2022-11-01 2023-10-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: SC485068










KINNELL VENTURES LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

 
KINNELL VENTURES LTD
 

COMPANY INFORMATION


DIRECTORS
James Alistair Howison Thompson 
Gemma Louise Thompson 
Guthrie James Batchelor (resigned 29 September 2023)




REGISTERED NUMBER
SC485068



REGISTERED OFFICE
Westby
64 West High Street

Forfar

DD8 1BJ




TRADING ADDRESS
27 West Port
Arbroath

DD11 1RF






ACCOUNTANTS
EQ Accountants Limited
Chartered Accountants

Westby

64 West High Street

Forfar

Angus

DD8 1BJ





 
KINNELL VENTURES LTD
REGISTERED NUMBER: SC485068

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
£
£

FIXED ASSETS
  

Tangible assets
 5 
207,416
221,567

  
207,416
221,567

CURRENT ASSETS
  

Stocks
  
35,000
26,100

Debtors: amounts falling due within one year
 6 
25,129
27,633

Cash at bank and in hand
  
27,850
18,656

  
87,979
72,389

Creditors: amounts falling due within one year
 7 
(186,620)
(157,693)

NET CURRENT LIABILITIES
  
 
 
(98,641)
 
 
(85,304)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
108,775
136,263

Creditors: amounts falling due after more than one year
 8 
(20,183)
(24,191)

PROVISIONS FOR LIABILITIES
  

Deferred tax
  
(527)
(2,754)

  
 
 
(527)
 
 
(2,754)

NET ASSETS
  
88,065
109,318


CAPITAL AND RESERVES
  

Called up share capital 
 9 
1,000
1,000

Profit and loss account
  
87,065
108,318

  
88,065
109,318


Page 1

 
KINNELL VENTURES LTD
REGISTERED NUMBER: SC485068

BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 4 July 2024.




James Alistair Howison Thompson
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
KINNELL VENTURES LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


GENERAL INFORMATION

Kinnell Ventures Ltd is a private company, limited by shares, incorporated in Scotland with the registration number SC485068. The registered office is Westby, 64 West High Street, Forfar, Scotland, DD8 1BJ with the trading address being 25-27 West Port, Arbroath, Angus, Scotland.
The financial statements are presented in Sterling which is the functional currency of the Company and rounded to the nearest £.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
KINNELL VENTURES LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

INTANGIBLE ASSETS

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.6

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Land and property
-
Not depreciated
Plant and machinery
-
20%
reducing balance
Motor vehicles
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 4

 
KINNELL VENTURES LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.8

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.9

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


EMPLOYEES

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Employees
20
20


4.


INTANGIBLE ASSETS



Goodwill

£



COST


At 1 November 2022
16,108



At 31 October 2023

16,108



AMORTISATION


At 1 November 2022
16,108



At 31 October 2023

16,108



NET BOOK VALUE



At 31 October 2023
-



Page 5

 
KINNELL VENTURES LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

5.


TANGIBLE FIXED ASSETS





Land and property
Plant and machinery
Motor vehicles
Total

£
£
£
£



COST OR VALUATION


At 1 November 2022
153,407
60,974
84,123
298,504


Additions
-
2,333
-
2,333



At 31 October 2023

153,407
63,307
84,123
300,837



DEPRECIATION


At 1 November 2022
-
40,500
36,437
76,937


Charge for the year on owned assets
-
4,562
11,922
16,484



At 31 October 2023

-
45,062
48,359
93,421



NET BOOK VALUE



At 31 October 2023
153,407
18,245
35,764
207,416



At 31 October 2022
153,407
20,474
47,686
221,567

Page 6

 
KINNELL VENTURES LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

6.


DEBTORS

2023
2022
£
£


Trade debtors
21,400
16,484

Other debtors
3,050
10,685

Prepayments and accrued income
679
464

25,129
27,633



7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Bank overdrafts
3,870
-

Other loans
24,778
-

Trade creditors
44,254
41,019

Other taxation and social security
5,566
6,167

Obligations under finance lease and hire purchase contracts
4,009
2,892

Other creditors
96,000
97,350

Accruals and deferred income
8,143
10,265

186,620
157,693


Obligations under finance lease and hire purchase contracts are secured over the related assets.


8.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023
£

Net obligations under finance leases and hire purchase contracts
20,183

20,183


Obligations under finance lease and hire purchase contracts are secured over the related assets.


9.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



1,000 (2022 - 1,000) Ordinary shares of £1 each shares of £1.00 each
1,000
1,000



Page 7