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Company Registration No. SC267049 (Scotland)
KELLYTECH LTD. Unaudited accounts for the year ended 31 March 2024
KELLYTECH LTD. Unaudited accounts Contents
Page
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KELLYTECH LTD. Company Information for the year ended 31 March 2024
Directors
Shona Ulrichsen Oystein Ulrichsen
Secretary
Shona 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
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KELLYTECH LTD. Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
105 
124 
Investments
67,072 
67,659 
67,177 
67,783 
Current assets
Investments
4,454 
4,877 
Cash at bank and in hand
399 
2,490 
4,853 
7,367 
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
Other provisions
243 
132 
Net assets
41,638 
45,197 
Capital and reserves
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
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KELLYTECH LTD. Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
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
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.
Sale of Goods
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.
Rendering of Services
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
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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 
Depreciation
At 1 April 2023
931 
2,866 
3,797 
Charge for the year
19 
- 
19 
At 31 March 2024
950 
2,866 
3,816 
Net book value
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 
8
Share capital
2024 
2023 
£ 
£ 
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).
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