K-Scape Ltd NI629707 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of landscaping and groundworks Digita Accounts Production Advanced 6.30.9574.0 true true NI629707 2023-04-01 2024-03-31 NI629707 2024-03-31 NI629707 bus:OrdinaryShareClass1 2024-03-31 NI629707 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-03-31 NI629707 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-03-31 NI629707 core:CurrentFinancialInstruments 2024-03-31 NI629707 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 NI629707 core:Non-currentFinancialInstruments 2024-03-31 NI629707 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 NI629707 core:LandBuildings 2024-03-31 NI629707 core:OtherPropertyPlantEquipment 2024-03-31 NI629707 bus:SmallEntities 2023-04-01 2024-03-31 NI629707 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 NI629707 bus:FilletedAccounts 2023-04-01 2024-03-31 NI629707 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 NI629707 bus:RegisteredOffice 2023-04-01 2024-03-31 NI629707 bus:Director1 2023-04-01 2024-03-31 NI629707 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 NI629707 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 NI629707 core:LandBuildings 2023-04-01 2024-03-31 NI629707 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 NI629707 core:PlantMachinery 2023-04-01 2024-03-31 NI629707 countries:NorthernIreland 2023-04-01 2024-03-31 NI629707 2023-03-31 NI629707 core:LandBuildings 2023-03-31 NI629707 core:OtherPropertyPlantEquipment 2023-03-31 NI629707 2022-04-01 2023-03-31 NI629707 2023-03-31 NI629707 bus:OrdinaryShareClass1 2023-03-31 NI629707 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-03-31 NI629707 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-03-31 NI629707 core:CurrentFinancialInstruments 2023-03-31 NI629707 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 NI629707 core:Non-currentFinancialInstruments 2023-03-31 NI629707 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 NI629707 core:LandBuildings 2023-03-31 NI629707 core:OtherPropertyPlantEquipment 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI629707

K-Scape Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

K-Scape Ltd

(Registration number: NI629707)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

158,110

144,770

Current assets

 

Debtors

5

6,990

11,282

Cash at bank and in hand

 

14,291

29,905

 

21,281

41,187

Creditors: Amounts falling due within one year

6

(78,575)

(96,670)

Net current liabilities

 

(57,294)

(55,483)

Total assets less current liabilities

 

100,816

89,287

Creditors: Amounts falling due after more than one year

6

(45,544)

(45,304)

Provisions for liabilities

(9,091)

(10,142)

Net assets

 

46,181

33,841

Capital and reserves

 

Called up share capital

7

300

300

Retained earnings

45,881

33,541

Shareholders' funds

 

46,181

33,841

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

K-Scape Ltd

(Registration number: NI629707)
Balance Sheet as at 31 March 2024

Approved and authorised by the director on 15 August 2024
 

.........................................
Mr Kieran McAlister
Director

 

K-Scape Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

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

The address of its registered office is: 228 Garryduff Rd, Dunloy, Co Antrim, BT44 9EE.

These financial statements were authorised for issue by the director on 15 August 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

K-Scape Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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

Land and buildings

4% straight line basis

Plant and machinery

15% reducing balance basis

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.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

 

K-Scape Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

K-Scape Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

4

Tangible assets

Land and buildings
£

Plant & machinery
£

Total
£

Cost or valuation

At 1 April 2023

5,007

182,847

187,854

Additions

-

38,788

38,788

At 31 March 2024

5,007

221,635

226,642

Depreciation

At 1 April 2023

400

42,684

43,084

Charge for the year

200

25,248

25,448

At 31 March 2024

600

67,932

68,532

Carrying amount

At 31 March 2024

4,407

153,703

158,110

At 31 March 2023

4,607

140,163

144,770

5

Debtors

Current

2024
£

2023
£

Trade debtors

6,128

7,568

Prepayments

417

481

Other debtors

445

3,233

 

6,990

11,282

 

K-Scape Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

18,560

14,448

Trade creditors

 

1,925

14,631

Taxation and social security

 

6,556

12,283

Accruals and deferred income

 

2,161

2,009

Other creditors

 

49,373

53,299

 

78,575

96,670

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share of £1 each

300

300

300

300

       

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

33,033

21,762

Hire purchase contracts

12,511

23,542

45,544

45,304

2024
£

2023
£

Current loans and borrowings

Bank borrowings

7,529

3,529

Hire purchase contracts

11,031

10,919

18,560

14,448

 

K-Scape Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

9

Related party transactions

2024
£

2023
 £

Directors current account

49,373

53,299