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REGISTERED NUMBER: SC378862 (Scotland)
















Financial Statements

for the Year Ended 31 December 2023

for

KCM Holdings (Scotland) Ltd.

KCM Holdings (Scotland) Ltd. (Registered number: SC378862)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KCM Holdings (Scotland) Ltd.

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr C McAdam
Mrs A McAdam





REGISTERED OFFICE: Unit 2
1 Alleysbank Road
Rutherglen
Glasgow
G73 1LX





REGISTERED NUMBER: SC378862 (Scotland)





ACCOUNTANTS: Gillespie & Anderson
Chartered Accountants
Westburn Business Centre
McNee Road
Prestwick
KA9 2PB

KCM Holdings (Scotland) Ltd. (Registered number: SC378862)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,233,946 1,257,219
Investments 5 2 2
1,233,948 1,257,221

CURRENT ASSETS
Debtors 6 46,748 27,938
Cash at bank 73,447 20,761
120,195 48,699
CREDITORS
Amounts falling due within one year 7 245,646 332,682
NET CURRENT LIABILITIES (125,451 ) (283,983 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,108,497

973,238

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,107,497 972,238
SHAREHOLDERS' FUNDS 1,108,497 973,238

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Profit and Loss Account has not been delivered.

KCM Holdings (Scotland) Ltd. (Registered number: SC378862)

Balance Sheet - continued
31 December 2023



The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2024 and were signed on its behalf by:





Mr C McAdam - Director


KCM Holdings (Scotland) Ltd. (Registered number: SC378862)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

KCM Holdings (Scotland) 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.

Going concern
The financial statements have been prepared on a going concern basis which assumes the company will continue to trade for a period of 12 months from the date of approval.

Preparation of consolidated financial statements
The financial statements contain information about KCM Holdings (Scotland) Ltd. as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land & Buildings - in accordance with the property

Impairment of fixed assets
At each reporting date, the company reviews the carrying amounts of its tangible and intangible fixed assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the amount of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


KCM Holdings (Scotland) Ltd. (Registered number: SC378862)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

Cash and cash equivalents
Cash and cash equivalents comprise cash held by the company and short term bank deposits with an original maturity of three months or less from inception and are subject to insignificant risk of changes in value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Land &
Buildings
£   
COST
At 1 January 2023
and 31 December 2023 1,429,442
DEPRECIATION
At 1 January 2023 172,223
Charge for year 23,273
At 31 December 2023 195,496
NET BOOK VALUE
At 31 December 2023 1,233,946
At 31 December 2022 1,257,219

Included in cost of land and buildings is freehold land of £ 500,000 (2022 - £ 500,000 ) which is not depreciated.

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 2
NET BOOK VALUE
At 31 December 2023 2
At 31 December 2022 2

KCM Holdings (Scotland) Ltd. (Registered number: SC378862)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Name of Company Class of shares Holding

CAM Autos Ltd Ordinary 100%

AEP (Scotland) Ltd Ordinary 100%



6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 16,605 27,938
Other debtors 30,143 -
46,748 27,938

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 204,859 205,030
Taxation and social security 31,120 19,000
Other creditors 9,667 108,652
245,646 332,682

8. CONTINGENT LIABILITIES

The company has granted a corporate guarantee in favour of the bank in respect of all borrowings of its subsidiary company, AEP (Scotland) Limited. As at 31 December 2023 these liabilities amounted to £268,642 (2022: £402,251).

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mr C McAdam and Mrs A McAdam
Balance outstanding at start of year (105,652 ) (219,251 )
Amounts advanced 210,795 163,599
Amounts repaid (75,000 ) (50,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 30,143 (105,652 )

The overdrawn loan account balance was cleared on 30 April 2024.

10. CONTROLLING PARTIES

The company is under the joint control of Colin McAdam and Mrs Aileen McAdam by virtue of their 100% holding in the company.