REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
FOR |
KILLECH LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
FOR |
KILLECH LTD |
KILLECH LTD (REGISTERED NUMBER: SC621732) |
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 |
KILLECH LTD |
COMPANY INFORMATION |
for the year ended 29 February 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Business Advisors and Accountants |
Q Court |
3 Quality Street |
Edinburgh |
EH4 5BP |
KILLECH LTD (REGISTERED NUMBER: SC621732) |
BALANCE SHEET |
29 February 2024 |
2024 | 2023 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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. |
KILLECH LTD (REGISTERED NUMBER: SC621732) |
BALANCE SHEET - continued |
29 February 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
KILLECH LTD (REGISTERED NUMBER: SC621732) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 29 February 2024 |
1. | STATUTORY INFORMATION |
Killech Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
TURNOVER |
Turnover relates to all amounts received or due to be received for interest receivable on the loan provided. |
FINANCIAL INSTRUMENTS |
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
Debt instruments including loans and other accounts receivable and payable, are initially measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income. |
TAXATION |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | DEBTORS |
2024 | 2023 |
£ | £ |
Amounts falling due within one year: |
Other debtors |
KILLECH LTD (REGISTERED NUMBER: SC621732) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 29 February 2024 |
4. | DEBTORS - continued |
2024 | 2023 |
£ | £ |
Amounts falling due after more than one year: |
Other debtors | - | 1,000,000 |
Aggregate amounts |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Taxation and social security |
Other creditors |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
7. | RELATED PARTY DISCLOSURES |
Included in "other creditors" is a balance of £1,078,206 (2023 - £1,065,745) due to the directors. This balance is interest free being payable in December 2024. |
Included in "other debtors" is a balance of £1,314,523 (2023 - £1,253,260) due from a partnership in which the company is a corporate partner. Interest is accrued at 6% per annum on the principal of £1,000,000 which is recoverable in December 2024. |