Registered number
09862857
Kilcollum Limited
Filleted Accounts
30 November 2023
Kilcollum Limited
Registered number: 09862857
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 21,429 23,912
Current assets
Debtors 5 60,078 10,012
Cash at bank and in hand 36,863 11,017
96,941 21,029
Creditors: amounts falling due within one year 6 (95,922) (39,925)
Net current assets/(liabilities) 1,019 (18,896)
Total assets less current liabilities 22,448 5,016
Provisions for liabilities (5,357) (4,543)
Net assets 17,091 473
Capital and reserves
Called up share capital 2 2
Profit and loss account 17,089 471
Shareholders' funds 17,091 473
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
David Asher
Director
Approved by the board on 29.08.24
Kilcollum Limited
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Vehicle over 5 years
Office and Computer equipment Over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 3
3 Other operating income
There was no other operating income received.
4 Tangible fixed assets
Land and buildings Computers Motor vehicles Total
£ £ £ £
Cost
At 1 December 2022 372 10,933 45,668 56,973
Additions - 408 - 408
At 30 November 2023 372 11,341 45,668 57,381
Depreciation
At 1 December 2022 224 6,643 26,194 33,061
Charge for the year 56 2,835 - 2,891
At 30 November 2023 280 9,478 26,194 35,952
Net book value
At 30 November 2023 92 1,863 19,474 21,429
At 30 November 2022 148 4,290 19,474 23,912
5 Debtors 2023 2022
£ £
Trade debtors 43,151 10,012
Other debtors 16,927 -
60,078 10,012
6 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts - 2,780
Corporation tax 13,916 -
Other taxes and social security costs 15,216 8,204
Other creditors 66,790 28,941
95,922 39,925
7 Controlling party
The company is controlled by Mr D Asher and Mrs A Asher
8 Other information
Kilcollum Limited is a private company limited by shares and incorporated in England. Its registered office is:
33 Pickard Crescent
Highgrove
Sheffield
S13 8EY
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