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REGISTERED NUMBER: SC646779 (Scotland)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

KIMMIES LTD

KIMMIES LTD (REGISTERED NUMBER: SC646779)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 6

KIMMIES LTD

COMPANY INFORMATION
for the Year Ended 30 November 2023







DIRECTORS: Mrs K McWilliam
Mr S McWilliam





REGISTERED OFFICE: 17 Main Street
Alford
Aberdeenshire
AB33 8QA





REGISTERED NUMBER: SC646779 (Scotland)





ACCOUNTANTS: Acumen Accountants and Advisors Limited
Unit 1, Office 1 & 8
Blackhall Industrial Estate
Burghmuir Circle
Inverurie
Aberdeenshire
AB51 4FS

KIMMIES LTD (REGISTERED NUMBER: SC646779)

BALANCE SHEET
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 38,884 45,367
Tangible assets 5 42,649 69,994
81,533 115,361

CURRENT ASSETS
Stocks 35,247 39,636
Debtors 6 22,129 6,221
Cash at bank and in hand 32,838 12,578
90,214 58,435
CREDITORS
Amounts falling due within one year 7 85,061 96,769
NET CURRENT ASSETS/(LIABILITIES) 5,153 (38,334 )
TOTAL ASSETS LESS CURRENT LIABILITIES 86,686 77,027

CREDITORS
Amounts falling due after more than one year 8 (8,657 ) (21,531 )

PROVISIONS FOR LIABILITIES (10,662 ) (13,299 )
NET ASSETS 67,367 42,197

CAPITAL AND RESERVES
Called up share capital 10 4 4
Retained earnings 67,363 42,193
SHAREHOLDERS' FUNDS 67,367 42,197

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 August 2024 and were signed on its behalf by:



Mrs K McWilliam - Director


KIMMIES LTD (REGISTERED NUMBER: SC646779)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Kimmies Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Motor vehicles - 25% on cost

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
The gain or loss arising on the disposal of an asset is determined as the difference between the proceeds and the carrying value of the asset and is included in the profit and loss account.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 13 ) .

KIMMIES LTD (REGISTERED NUMBER: SC646779)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 64,835
AMORTISATION
At 1 December 2022 19,468
Charge for year 6,483
At 30 November 2023 25,951
NET BOOK VALUE
At 30 November 2023 38,884
At 30 November 2022 45,367

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 December 2022 74,282 40,049 114,331
Additions 1,650 - 1,650
At 30 November 2023 75,932 40,049 115,981
DEPRECIATION
At 1 December 2022 30,682 13,655 44,337
Charge for year 18,983 10,012 28,995
At 30 November 2023 49,665 23,667 73,332
NET BOOK VALUE
At 30 November 2023 26,267 16,382 42,649
At 30 November 2022 43,600 26,394 69,994

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 213
Other debtors 22,129 6,008
22,129 6,221

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 16,590 13,176
Trade creditors 15,956 17,239
Taxation and social security 22,507 4,846
Other creditors 30,008 61,508
85,061 96,769

KIMMIES LTD (REGISTERED NUMBER: SC646779)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 8,657 21,531

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 25,247 34,707

A standard security is in place in favour of the Clydesdale Bank PLC which contains a floating charge covering all the property or undertaking of the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary shares 2 2 2
2 B Ordinary shares 2 2 2
4 4

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2023 and 30 November 2022:

2023 2022
£    £   
Mrs K McWilliam
Balance outstanding at start of year (27,668 ) (66,922 )
Amounts advanced 20,759 41,452
Amounts repaid (1,312 ) (2,198 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (8,221 ) (27,668 )

Mr S McWilliam
Balance outstanding at start of year (27,668 ) (6,000 )
Amounts advanced 12,474 10,991
Amounts repaid (1,312 ) (32,659 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (16,506 ) (27,668 )

These amounts bear no interest and have no fixed repayment terms.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
KIMMIES LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kimmies Ltd for the year ended 30 November 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Kimmies Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Kimmies Ltd and state those matters that we have agreed to state to the Board of Directors of Kimmies Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Kimmies Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Kimmies Ltd. You consider that Kimmies Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Kimmies Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Acumen Accountants and Advisors Limited
Unit 1, Office 1 & 8
Blackhall Industrial Estate
Burghmuir Circle
Inverurie
Aberdeenshire
AB51 4FS


16 August 2024