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REGISTERED NUMBER: SC160983 (Scotland)











































Keltel Communications Ltd.

Unaudited Financial Statements

for the Year Ended 31st December 2023






Keltel Communications Ltd. (Registered number: SC160983)






Contents of the Financial Statements
for the year ended 31st December 2023




Page

Company information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 6


Keltel Communications Ltd.

Company Information
for the year ended 31st December 2023







Directors: A R Douglas
Mrs S E Douglas





Secretary: A R Douglas





Registered office: Pinnaclehill Industrial Estate
Kelso
Roxburghshire
TD5 8DW





Registered number: SC160983 (Scotland)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

Keltel Communications Ltd. (Registered number: SC160983)

Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 464,355 158,046

Current assets
Stocks 19,750 63,551
Debtors 5 276,417 98,966
Cash at bank 773,062 1,044,020
1,069,229 1,206,537
Creditors
Amounts falling due within one year 6 250,163 174,338
Net current assets 819,066 1,032,199
Total assets less current liabilities 1,283,421 1,190,245

Provisions for liabilities 7,961 5,292
Net assets 1,275,460 1,184,953

Capital and reserves
Called up share capital 6,000 6,000
Retained earnings 1,269,460 1,178,953
Shareholders' funds 1,275,460 1,184,953

Keltel Communications Ltd. (Registered number: SC160983)

Balance Sheet - continued
31st December 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23rd September 2024 and were signed on its behalf by:





A R Douglas - Director


Keltel Communications Ltd. (Registered number: SC160983)

Notes to the Financial Statements
for the year ended 31st December 2023

1. Statutory information

Keltel Communications 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.

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 and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

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.
Freehold property - 2% on cost
Equipment - 20% on cost
Motor vehicles - 25% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

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

Cost includes all direct expenditure and appropriate proportion of fixed and variable overheads. Net realisable value is based on estimated selling prices less further costs expected to be incurred in bringing the stock to completion.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, accruals, directors' loans and other loans.

Directors' loans (being repayable on demand), other loans, trade debtors, trade creditors and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.


Keltel Communications Ltd. (Registered number: SC160983)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

2. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred.

Going concern
The director has considered the company's financial position for a minimum period of 12 months and beyond from the date of signing these financial statements and has an expectation that the company should be in a position to continue trading in the current format for the foreseeable future. Accordingly, he continues to adopt the going concern basis in preparing these financial statements.

3. Employees and directors

The average number of employees during the year was 6 (2022 - 6 ) .

Keltel Communications Ltd. (Registered number: SC160983)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

4. Tangible fixed assets
Freehold Motor
property Equipment vehicles Totals
£    £    £    £   
Cost
At 1st January 2023 171,466 93,212 84,111 348,789
Additions 295,690 558 27,900 324,148
At 31st December 2023 467,156 93,770 112,011 672,937
Depreciation
At 1st January 2023 40,810 90,942 58,991 190,743
Charge for year 3,429 1,153 13,257 17,839
At 31st December 2023 44,239 92,095 72,248 208,582
Net book value
At 31st December 2023 422,917 1,675 39,763 464,355
At 31st December 2022 130,656 2,270 25,120 158,046

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 146,059 91,177
Other debtors 130,358 7,789
276,417 98,966

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 26,862 24,460
Taxation and social security 82,507 41,407
Other creditors 140,794 108,471
250,163 174,338

7. Post balance sheet events

Since the year end, on 4th March 2024, a dividend of £5.55 per share was declared.