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Registration number: SC739717

K&G Cleaning Contractors Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

K&G Cleaning Contractors Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

Accountants' Report

10

 

K&G Cleaning Contractors Ltd

Company Information

Directors

Mrs Kirsty McGuire

Ms Gillian Lynn

Registered office

Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

Accountants

EQ Accountants Ltd
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

 

K&G Cleaning Contractors Ltd

(Registration number: SC739717)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

12,435

16,410

Current assets

 

Stocks

5

-

333

Debtors

6

5,352

8,420

Cash at bank and in hand

 

2,859

12,576

 

8,211

21,329

Creditors: Amounts falling due within one year

7

(19,621)

(16,064)

Net current (liabilities)/assets

 

(11,410)

5,265

Total assets less current liabilities

 

1,025

21,675

Creditors: Amounts falling due after more than one year

7

(15,838)

(18,436)

Provisions for liabilities

(2,363)

(3,118)

Net (liabilities)/assets

 

(17,176)

121

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(17,276)

21

Shareholders' (deficit)/funds

 

(17,176)

121

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 October 2024 and signed on its behalf by:
 

 

K&G Cleaning Contractors Ltd

(Registration number: SC739717)
Balance Sheet as at 31 July 2024

.........................................
Mrs Kirsty McGuire
Director

 

K&G Cleaning Contractors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

It is the opinion of the directors that there is reasonable expectation that the company has adequate resources to continue operations for the foreseeable future. For this reason the going concern basis has been adopted in preparing the financial statements for the period ended 31 July 2024.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

K&G Cleaning Contractors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

25% Reducing Balance

Plant and Machinery

25% Reducing Balance

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

K&G Cleaning Contractors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any
contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

 

3

Employees and Directors

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 5).

 

K&G Cleaning Contractors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Tangible assets

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2023

300

21,614

21,914

Additions

169

-

169

At 31 July 2024

469

21,614

22,083

Depreciation

At 1 August 2023

100

5,404

5,504

Charge for the year

92

4,052

4,144

At 31 July 2024

192

9,456

9,648

Carrying amount

At 31 July 2024

277

12,158

12,435

At 31 July 2023

200

16,210

16,410

5

Stocks

2024
£

2023
£

Work in progress

-

333

6

Debtors

Current

2024
£

2023
£

Trade debtors

2,731

4,174

Other debtors

2,621

4,246

 

5,352

8,420

 

K&G Cleaning Contractors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

2,598

2,094

Taxation and social security

 

2,912

-

Other creditors

 

14,111

13,970

 

19,621

16,064

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

15,838

18,436

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

15,838

18,436

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

2,598

2,094

 

K&G Cleaning Contractors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

9

Related party transactions

Creditors include the following amounts which are owed to individuals who were directors of the company during the year:

Year ended 31 July 2024
 £

29 July 2022 to 31 July 2023
 £

Ms Gillian Lynn

6,817

6,196

Mrs Kirsty McGuire

6,817

6,196

 

13,634

12,392

The maximum balance outstanding during the year amounted to £13,634.

The directors current accounts are repayable on demand.

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
K&G Cleaning Contractors Ltd
for the Year Ended 31 July 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of K&G Cleaning Contractors Ltd for the year ended 31 July 2024 as set out on pages 2 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of K&G Cleaning Contractors Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of K&G Cleaning Contractors Ltd and state those matters that we have agreed to state to the Board of Directors of K&G Cleaning Contractors Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than K&G Cleaning Contractors Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that K&G Cleaning Contractors Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of K&G Cleaning Contractors Ltd. You consider that K&G Cleaning Contractors Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of K&G Cleaning Contractors Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

EQ Accountants Ltd
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

9 October 2024