Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 SC333506 Mr Patrick Gillooly iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC333506 2023-02-28 SC333506 2024-02-29 SC333506 2023-03-01 2024-02-29 SC333506 frs-core:CurrentFinancialInstruments 2024-02-29 SC333506 frs-core:Non-currentFinancialInstruments 2024-02-29 SC333506 frs-core:FurnitureFittings 2023-03-01 2024-02-29 SC333506 frs-core:ShareCapital 2024-02-29 SC333506 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 SC333506 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 SC333506 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 SC333506 frs-bus:SmallEntities 2023-03-01 2024-02-29 SC333506 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 SC333506 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 SC333506 frs-bus:Director1 2023-03-01 2024-02-29 SC333506 frs-core:Non-currentFinancialInstruments 1 2024-02-29 SC333506 frs-countries:Scotland 2023-03-01 2024-02-29 SC333506 2022-02-28 SC333506 2023-02-28 SC333506 2022-03-01 2023-02-28 SC333506 frs-core:CurrentFinancialInstruments 2023-02-28 SC333506 frs-core:Non-currentFinancialInstruments 2023-02-28 SC333506 frs-core:ShareCapital 2023-02-28 SC333506 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 SC333506 frs-core:Non-currentFinancialInstruments 1 2023-02-28 SC333506 frs-core:Non-currentFinancialInstruments 2 2023-02-28
Registered number: SC333506
KMP (Scotland) Ltd.
Unaudited Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC333506
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 360,000 360,000
360,000 360,000
CURRENT ASSETS
Debtors 5 92,353 96,824
Cash at bank and in hand 4,023 2,354
96,376 99,178
Creditors: Amounts Falling Due Within One Year 6 (341,079 ) (323,942 )
NET CURRENT ASSETS (LIABILITIES) (244,703 ) (224,764 )
TOTAL ASSETS LESS CURRENT LIABILITIES 115,297 135,236
Creditors: Amounts Falling Due After More Than One Year 7 (129,651 ) (163,517 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (6,900 ) (6,900 )
NET LIABILITIES (21,254 ) (35,181 )
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account (21,255 ) (35,182 )
SHAREHOLDERS' FUNDS (21,254) (35,181)
Page 1
Page 2
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Patrick Gillooly
Director
25/11/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
KMP (Scotland) Ltd. is a private company, limited by shares, incorporated in Scotland, registered number SC333506 . The registered office is The Old Nursery Motherwell Road, Newhouse, Motherwell, Lanarkshire, ML1 5ST.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
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.
The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence in the foreseeable future. The validity of this assumption depends on the continued support of the company's bankers, other lenders and the director for the forthcoming year. The director believes that it is appropriate for the going concern basis to be used.
2.2. 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.

2.3. 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 25% on reducing balance
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Financial Instruments
The company only has basic financial instruments.

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Investment Property
2024
£
Fair Value
As at 1 March 2023 and 29 February 2024 360,000
Cost or valuation as at 29 February 2024 represented by: Valuation in 2024 of £360,000.
Fair value of investment property at 29 February 2024 is represented by valuation in 2024 of £360,000 (2023: £360,000).
All of the properties at Graham Street, Airdrie were valued on an open market basis at £360,000 on 29 February 2024 by P Gillooly.
If Investment Properties had not been revalued they would have been included at the following historical cost of £311,204 (2023: £311,204)
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,561 2,900
Other loans - Receivable 67,034 66,524
69,595 69,424
Due after more than one year
Deferred tax current asset 22,758 27,400
92,353 96,824
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,426 461
Bank loans and overdrafts 43,575 43,575
Other loans - Creditors 290,406 277,846
Accrued expenses 3,000 -
Director's loan account 672 2,060
341,079 323,942
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7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 1-2 years 43,575 43,575
Bank loans - 2-5 years 86,076 113,137
Bank loans more 5 yr by instal - 6,805
129,651 163,517
8. Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured.
Bank loans are secured over the property held at Graham Street in Airdrie.
2024 2023
£ £
Bank loans and overdrafts 147,444 171,439
9. Deferred Taxation
The deferred tax provision relates to changes in fair value of investment property.
2024 2023
£ £
Other timing differences 6,900 6,900
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
11. Related Party Transactions
Newhouse Investments Ltd, K & T Plant Hire Ltd, Inland Engineering Services Ltd and KMM Scotland Ltd were all related parties during the period by virtue of being under common control.
Interest free loan funding repayable on demand was provided to Newhouse Investments Ltd. As at 29th February 2024, the amount due to the company by Newhouse Investments Ltd amounted to £39,075 (2023: £38,565).
Interest free loan funding repayable on demand was provided to KMM Scotland Ltd. As at 29th February 2024, the amount due to the company by KMM Scotland amounted to £4,611 (2023: £4,611).
Interest free loan funding repayable on demand was provided by K & T Plant Hire Ltd. As at 29th February 2024, the amount due by the company to K & T Plant Hire Ltd amounted to £99,735 (2023: £87,175).
Interest free loan funding repayable on demand was provided by Inland Engineering Services Ltd. As at 29th February 2024, the amount due by the company to Inland Engineering Services Ltd amounted to £190,671 (2023: £190,671).
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