BrightAccountsProduction v1.0.0 v1.0.0 2023-04-06 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts 13 September 2024 0 NI696108 2024-07-31 NI696108 2023-04-05 NI696108 2023-04-06 2024-07-31 NI696108 uk-bus:PrivateLimitedCompanyLtd 2023-04-06 2024-07-31 NI696108 uk-curr:PoundSterling 2023-04-06 2024-07-31 NI696108 uk-bus:SmallCompaniesRegimeForAccounts 2023-04-06 2024-07-31 NI696108 uk-bus:FullAccounts 2023-04-06 2024-07-31 NI696108 uk-bus:CompanySecretaryDirector1 2023-04-06 2024-07-31 NI696108 uk-bus:Director2 2023-04-06 2024-07-31 NI696108 uk-bus:CompanySecretary1 2023-04-06 2024-07-31 NI696108 uk-bus:RegisteredOffice 2023-04-06 2024-07-31 NI696108 uk-bus:Agent1 2023-04-06 2024-07-31 NI696108 uk-core:ShareCapital 2024-07-31 NI696108 uk-core:RetainedEarningsAccumulatedLosses 2024-07-31 NI696108 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-07-31 NI696108 uk-bus:FRS102 2023-04-06 2024-07-31 NI696108 uk-core:MotorVehicles 2023-04-06 2024-07-31 NI696108 uk-core:CurrentFinancialInstruments 2024-07-31 NI696108 uk-core:WithinOneYear 2024-07-31 NI696108 uk-core:WithinOneYear 2024-07-31 NI696108 uk-core:AfterOneYear 2024-07-31 NI696108 uk-core:BetweenOneFiveYears 2024-07-31 NI696108 uk-core:EmployeeBenefits 2023-04-05 NI696108 uk-core:EmployeeBenefits 2023-04-06 2024-07-31 NI696108 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-07-31 NI696108 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-07-31 NI696108 uk-core:OtherDeferredTax 2024-07-31 NI696108 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-07-31 NI696108 uk-core:EmployeeBenefits 2024-07-31 NI696108 2023-04-06 2024-07-31 NI696108 uk-bus:AuditExempt-NoAccountantsReport 2023-04-06 2024-07-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI696108
 
 
KSK Rathmor Engineering & Recruitment Ltd
 
Unaudited Financial Statements
 
for the financial period from 6 April 2023 (date of incorporation) to 31 July 2024
KSK Rathmor Engineering & Recruitment Ltd
DIRECTORS AND OTHER INFORMATION

 
Directors Mr. Darryl McDermott
Mr. Kevin McDaid
 
 
Company Secretary Mr. Darryl McDermott
 
 
Company Registration Number NI696108
 
 
Registered Office 26 Inch View
Hazelbank
Derry
BT48 0QS
 
 
Accountants MCI Chartered Accountants
Sentinel House
13 Pump Street
Derry
BT48 6JG
 
 
Bankers Tide
  ClearBank Limited
  Borough Yards
  13 Dirty Lane
  London
  SE1 9PA



KSK Rathmor Engineering & Recruitment Ltd
Company Registration Number: NI696108
BALANCE SHEET
as at 31 July 2024

Jul 24
Notes £
 
Fixed Assets
Tangible assets 6 47,909
─────────
 
Current Assets
Debtors 7 199,973
Cash and cash equivalents 1,677
─────────
201,650
─────────
Creditors: amounts falling due within one year 8 (114,605)
─────────
Net Current Assets 87,045
─────────
Total Assets less Current Liabilities 134,954
 
Creditors:
amounts falling due after more than one year 9 (32,491)
 
Provisions for liabilities 10 (11,977)
─────────
Net Assets 90,486
═════════
 
Capital and Reserves
Called up share capital 100
Retained earnings 11 90,386
─────────
Shareholders' Funds 90,486
═════════
 
The financial statements have been prepared 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 company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.
       
For the financial period from 6 April 2023 (date of incorporation) to 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
       
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial period in question in accordance with section 476 of the Companies Act 2006.
       
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial period and of its profit and loss for the financial period 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.
       
Approved by the Board and authorised for issue on 13 September 2024 and signed on its behalf by
       
       
       
Mr. Darryl McDermott      
Director      
       
       
       
Mr. Darryl McDermott
       



KSK Rathmor Engineering & Recruitment Ltd
NOTES TO THE FINANCIAL STATEMENTS
for the financial period from 6 April 2023 (date of incorporation) to 31 July 2024

   
1. General Information
 
KSK Rathmor Engineering & Recruitment Ltd is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI696108. The registered office of the company is 26 Inch View, Hazelbank, Derry, BT48 0QS. The principal activity of the company is that of pipe fitting and welding contractors. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial period ended 31 July 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover is measured at the fair value of the consideration receivable net of VAT and discounts. The policies adopted for the recognition of turnover and other income are as follows:

Rendering of services
When the outcome of a transaction can be estimated reliably, turnover from services is recognised by reference to the stage of completion of the contract at the Balance sheet date. The stage of completion is measured by reference to labour hours completed and materials consumed.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Motor vehicles - 20% Reducing balance
 

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimated the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current markets assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in the statement of income and retained earnings, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in the statement of income and retained earnings, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
 
Leasing and hire purchases
Tangible assets held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Balance Sheet at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Profit and Loss Account.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial period and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Period of financial statements
 
The financial statements are for the 15 month 26 days period from 6 April 2023 (date of incorporation) to 31 July 2024.
   
4. Statement on previous periods
 
The company did not present financial statements for previous periods.
     
5. Employees
 
The average monthly number of employees, including directors, during the financial period was 7.
       
6. Tangible assets
  Motor Total
  vehicles  
     
  £ £
Cost
At 6 April 2023 - -
Additions 58,622 58,622
  ───────── ─────────
At 31 July 2024 58,622 58,622
  ───────── ─────────
Depreciation
At 6 April 2023 - -
Charge for the financial period 10,713 10,713
  ───────── ─────────
At 31 July 2024 10,713 10,713
  ───────── ─────────
Net book value
At 31 July 2024 47,909 47,909
  ═════════ ═════════
     
7. Debtors Jul 24
  £
 
Amounts owed by connected parties (Note 12) 105,000
Other debtors 5,000
Directors' current accounts (Note 13) 15,000
Taxation 74,208
Prepayments and accrued income 765
  ─────────
  199,973
  ═════════
     
8. Creditors Jul 24
Amounts falling due within one year £
 
Net obligations under finance leases
and hire purchase contracts 8,719
Amounts owed to connected parties (Note 12) 86,568
Taxation 17,318
Accruals 2,000
  ─────────
  114,605
  ═════════
     
9. Creditors Jul 24
Amounts falling due after more than one year £
 
Finance leases and hire purchase contracts 32,491
  ═════════
 
 
Net obligations under finance leases
and hire purchase contracts
Repayable within one year 8,719
Repayable between one and five years 32,491
  ─────────
  41,210
  ═════════
       
10. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total
  allowances  
     
    Jul 24
  £ £
 
At financial period start - -
Charged to profit and loss 11,977 11,977
  ───────── ─────────
At financial period end 11,977 11,977
  ═════════ ═════════
     
11. Profit and loss account
   
  Jul 24
  £
 
At 6 April 2023 -
Profit for the financial period 90,386
  ─────────
At 31 July 2024 90,386
  ═════════
         
12. Related party transactions
  Balance Movement Maximum
  Jul 24 in period in period
  £ £ £
 
Amounts owed by other related parties 105,000 105,000 65,000
  ───────── ───────── ═════════
 
The following amounts are due to other connected parties:
      Jul 24
      £
 
Amounts owed to other related parties     86,568
      ═════════
 
Net balances with other connected parties:
      Jul 24
      £
 
Amounts owed by other related parties     105,000
Amounts owed to other related parties     (86,568)
      ─────────
      18,432
      ═════════
   
13. Directors' advances, credits and guarantees
 
The total amount owing from the directors to the company at the year end was £15,000. The loans are interest free and are repayable on demand.