IRIS Accounts Production v24.2.0.383 SC406519 Board of Directors Board of Directors 1.3.23 29.2.24 29.2.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC4065192023-02-28SC4065192024-02-29SC4065192023-03-012024-02-29SC4065192022-02-28SC4065192022-03-012023-02-28SC4065192023-02-28SC406519ns15:Scotland2023-03-012024-02-29SC406519ns14:PoundSterling2023-03-012024-02-29SC406519ns10:Director12023-03-012024-02-29SC406519ns10:Director22023-03-012024-02-29SC406519ns10:PrivateLimitedCompanyLtd2023-03-012024-02-29SC406519ns10:SmallEntities2023-03-012024-02-29SC406519ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-29SC406519ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-29SC406519ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-29SC406519ns10:FullAccounts2023-03-012024-02-29SC40651912023-03-012024-02-29SC406519ns10:CompanySecretary12023-03-012024-02-29SC406519ns10:RegisteredOffice2023-03-012024-02-29SC406519ns5:CurrentFinancialInstruments2024-02-29SC406519ns5:CurrentFinancialInstruments2023-02-28SC406519ns5:ShareCapital2024-02-29SC406519ns5:ShareCapital2023-02-28SC406519ns5:RetainedEarningsAccumulatedLosses2024-02-29SC406519ns5:RetainedEarningsAccumulatedLosses2023-02-28SC406519ns5:IntangibleAssetsOtherThanGoodwill2023-03-012024-02-29SC406519ns5:PlantMachinery2023-03-012024-02-29SC406519ns5:FurnitureFittings2023-03-012024-02-29SC406519ns5:ComputerEquipment2023-03-012024-02-29SC406519ns5:NetGoodwill2023-02-28SC406519ns5:NetGoodwill2024-02-29SC406519ns5:NetGoodwill2023-02-28SC406519ns5:LandBuildings2023-02-28SC406519ns5:PlantMachinery2023-02-28SC406519ns5:LandBuildings2023-03-012024-02-29SC406519ns5:LandBuildings2024-02-29SC406519ns5:PlantMachinery2024-02-29SC406519ns5:LandBuildings2023-02-28SC406519ns5:PlantMachinery2023-02-28SC406519ns5:CostValuation2023-02-28
REGISTERED NUMBER: SC406519 (Scotland)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

Kelvin Financial Planning Limited

Kelvin Financial Planning Limited (Registered number: SC406519)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


Kelvin Financial Planning Limited

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: M Jackson
C Malcolm





SECRETARY: C Malcolm





REGISTERED OFFICE: 2nd Floor
176 Bath Street
Glasgow
G2 4HG





REGISTERED NUMBER: SC406519 (Scotland)





ACCOUNTANTS: Burgoyne Carey
Chartered Accountants
Pavilion 2
3 Dava Street
Broomloan Road
Glasgow
G51 2JA

Kelvin Financial Planning Limited (Registered number: SC406519)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 29,475 30,459
Investments 6 20,000 20,000
49,475 50,459

CURRENT ASSETS
Cash at bank and in hand 394,927 303,838

CREDITORS
Amounts falling due within one year 7 183,915 129,977
NET CURRENT ASSETS 211,012 173,861
TOTAL ASSETS LESS CURRENT
LIABILITIES

260,487

224,320

PROVISIONS FOR LIABILITIES 497 922
NET ASSETS 259,990 223,398

CAPITAL AND RESERVES
Called up share capital 284 284
Retained earnings 259,706 223,114
SHAREHOLDERS' FUNDS 259,990 223,398

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

Kelvin Financial Planning Limited (Registered number: SC406519)

BALANCE SHEET - continued
29 FEBRUARY 2024


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 Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 April 2024 and were signed on its behalf by:




M Jackson - Director



C Malcolm - Director


Kelvin Financial Planning Limited (Registered number: SC406519)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Kelvin Financial Planning Limited 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 represents amounts invoiced during the year net, exclusive of Value Added Tax.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company makes contributions towards the directors' money purchase pension schemes.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

Kelvin Financial Planning Limited (Registered number: SC406519)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 143,034
AMORTISATION
At 1 March 2023
and 29 February 2024 143,034
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2023 26,859 45,567 72,426
Additions - 2,788 2,788
At 29 February 2024 26,859 48,355 75,214
DEPRECIATION
At 1 March 2023 - 41,967 41,967
Charge for year - 3,772 3,772
At 29 February 2024 - 45,739 45,739
NET BOOK VALUE
At 29 February 2024 26,859 2,616 29,475
At 28 February 2023 26,859 3,600 30,459

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 March 2023
and 29 February 2024 20,000
NET BOOK VALUE
At 29 February 2024 20,000
At 28 February 2023 20,000

Kelvin Financial Planning Limited (Registered number: SC406519)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 5,347 6,293
Taxation and social security 174,118 118,695
Other creditors 4,450 4,989
183,915 129,977

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

A company owned by Michael Jackson invoiced Kelvin Financial Limited for £64,552.39 (2023-£35,471) for professional services.