Company Registration No. SC267049 (Scotland)
KELLYTECH LTD.
Unaudited accounts
for the year ended 31 March 2024
KELLYTECH LTD.
Unaudited accounts
Contents
KELLYTECH LTD.
Company Information
for the year ended 31 March 2024
Directors
Shona Ulrichsen
Oystein Ulrichsen
Company Number
SC267049 (Scotland)
Registered Office
Kellyside Cottage
Drum Road
Dollar
Clackmannanshire
FK14 7PG
Accountants
Peter Hall Finance & Accounting Solutions
of Tillicoultry
Clackmannanshire
FK13 6DR
KELLYTECH LTD.
Statement of financial position
as at 31 March 2024
Cash at bank and in hand
399
2,490
Creditors: amounts falling due within one year
(30,635)
(30,085)
Net current liabilities
(25,782)
(22,718)
Total assets less current liabilities
41,395
45,065
Provisions for liabilities
Called up share capital
100
100
Fair value reserve
12,584
12,584
Profit and loss account
28,954
32,513
Shareholders' funds
41,638
45,197
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2024 and were signed on its behalf by
Oystein Ulrichsen
Director
Company Registration No. SC267049
KELLYTECH LTD.
Notes to the Accounts
for the year ended 31 March 2024
KELLYTECH LTD. is a private company, limited by shares, registered in Scotland, registration number SC267049. The registered office is Kellyside Cottage, Drum Road, Dollar, Clackmannanshire, FK14 7PG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies
Act 2006.
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 is reduced for estimated customer returns, rebates and other similar allowances.
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Tangible fixed assets and depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 15% RBM
Computer Equipment 25% SLM
KELLYTECH LTD.
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2023
1,055
2,866
3,921
At 31 March 2024
1,055
2,866
3,921
At 1 April 2023
931
2,866
3,797
Charge for the year
19
-
19
At 31 March 2024
950
2,866
3,816
At 31 March 2024
105
-
105
At 31 March 2023
124
-
124
5
Investments
Other investments
Valuation at 1 April 2023
67,659
Fair value adjustments
(587)
Valuation at 31 March 2024
67,072
6
Investments held as current assets
2024
2023
Unlisted investments
4,454
4,877
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
30,635
30,085
Allotted, called up and fully paid:
100 Allotted, Called up and fully paid of £1 each
100
100
9
Average number of employees
During the year the average number of employees was 0 (2023: 1).