The Kinross-shire Partnership Limited SC190362 false 2022-11-01 2023-10-31 2023-10-31 The principal activity of the company is promoting economic development and tourism within Kinross-shire. Digita Accounts Production Advanced 6.30.9574.0 true SC190362 2022-11-01 2023-10-31 SC190362 2023-10-31 SC190362 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 SC190362 core:FurnitureFittingsToolsEquipment 2023-10-31 SC190362 bus:SmallEntities 2022-11-01 2023-10-31 SC190362 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 SC190362 bus:FullAccounts 2022-11-01 2023-10-31 SC190362 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 SC190362 bus:RegisteredOffice 2022-11-01 2023-10-31 SC190362 bus:CompanySecretary1 2022-11-01 2023-10-31 SC190362 bus:Director2 2022-11-01 2023-10-31 SC190362 bus:Director3 2022-11-01 2023-10-31 SC190362 bus:Director4 2022-11-01 2023-10-31 SC190362 bus:Director5 2022-11-01 2023-10-31 SC190362 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 SC190362 core:FurnitureFittingsToolsEquipment 2022-11-01 2023-10-31 SC190362 core:OtherPropertyPlantEquipment 2022-11-01 2023-10-31 SC190362 countries:Scotland 2022-11-01 2023-10-31 SC190362 2022-10-31 SC190362 core:FurnitureFittingsToolsEquipment 2022-10-31 SC190362 2021-11-01 2022-10-31 SC190362 2022-10-31 SC190362 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 SC190362 core:FurnitureFittingsToolsEquipment 2022-10-31 iso4217:GBP xbrli:pure

Registration number: SC190362

The Kinross-shire Partnership Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2023

 

The Kinross-shire Partnership Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

The Kinross-shire Partnership Limited

Company Information

Directors

Mr W Freeman

Ms A McCormack

Mr R Scott

Mrs P Watson

Company secretary

Mr J Cassells

Registered office

3 High Street
Kinross
KY13 8AW

Accountants

Ross McConnell
Chartered Accountant
3 High Street
Kinross
KY13 8AW

 

The Kinross-shire Partnership Limited

(Registration number: SC190362)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed Assets

 

Tangible Assets

4

690

838

Current assets

 

Cash at bank and in hand

 

2,894

4,888

Creditors: Amounts falling due within one year

5

(300)

(120)

Net current assets

 

2,594

4,768

Net assets

 

3,284

5,606

Capital and reserves

 

Retained earnings

3,284

5,606

Shareholders' funds

 

3,284

5,606

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 31 July 2024 and signed on its behalf by:
 

.........................................
Mr R Scott
Director

 

The Kinross-shire Partnership Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
3 High Street
Kinross
KY13 8AW

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment

20%

 

The Kinross-shire Partnership Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2022 - 9).

 

The Kinross-shire Partnership Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

4

Tangible Assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 November 2022

3,998

3,998

Additions

815

815

At 31 October 2023

4,813

4,813

Depreciation

At 1 November 2022

3,160

3,160

Charge for the year

963

963

At 31 October 2023

4,123

4,123

Carrying amount

At 31 October 2023

690

690

At 31 October 2022

838

838

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

180

-

Other creditors

120

120

300

120