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REGISTERED NUMBER: SC324384 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Kfb Engineering & Agricultural Ltd.

Kfb Engineering & Agricultural Ltd. (Registered number: SC324384)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Kfb Engineering & Agricultural Ltd.

Company Information
for the Year Ended 31 May 2024







DIRECTOR: Mr K F Bain





REGISTERED OFFICE: Old Town Farm
Leochel
Cushnie
Alford
Aberdeenshire
AB33 8LQ





REGISTERED NUMBER: SC324384 (Scotland)





ACCOUNTANTS: SBP
Accountants
42 Queens Road
Aberdeen
AB15 4YE

Kfb Engineering & Agricultural Ltd. (Registered number: SC324384)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 58,345 65,309

CURRENT ASSETS
Debtors 5 7,316 6,565
Cash at bank 9,811 7,036
17,127 13,601
CREDITORS
Amounts falling due within one year 6 19,271 13,775
NET CURRENT LIABILITIES (2,144 ) (174 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

56,201

65,135

CREDITORS
Amounts falling due after more than one
year

7

(11,997

)

(16,797

)

PROVISIONS FOR LIABILITIES (3,665 ) (4,406 )
NET ASSETS 40,539 43,932

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 40,535 43,928
40,539 43,932

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Kfb Engineering & Agricultural Ltd. (Registered number: SC324384)

Balance Sheet - continued
31 May 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 February 2025 and were signed by:





Mr K F Bain - Director


Kfb Engineering & Agricultural Ltd. (Registered number: SC324384)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Kfb Engineering & Agricultural Ltd. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 4% on reducing balance
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Equipment - 20% on reducing balance

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Kfb Engineering & Agricultural Ltd. (Registered number: SC324384)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 June 2023 37,078 60,000 14,634
Additions - 3,165 -
At 31 May 2024 37,078 63,165 14,634
DEPRECIATION
At 1 June 2023 4,813 49,321 12,347
Charge for year 1,291 3,461 457
At 31 May 2024 6,104 52,782 12,804
NET BOOK VALUE
At 31 May 2024 30,974 10,383 1,830
At 31 May 2023 32,265 10,679 2,287

Motor
vehicles Equipment Totals
£    £    £   
COST
At 1 June 2023 25,195 13,871 150,778
Additions - - 3,165
At 31 May 2024 25,195 13,871 153,943
DEPRECIATION
At 1 June 2023 7,092 11,896 85,469
Charge for year 4,525 395 10,129
At 31 May 2024 11,617 12,291 95,598
NET BOOK VALUE
At 31 May 2024 13,578 1,580 58,345
At 31 May 2023 18,103 1,975 65,309

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 6,600 6,000
Other debtors 716 565
7,316 6,565

Kfb Engineering & Agricultural Ltd. (Registered number: SC324384)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts 4,799 4,799
Trade creditors 4 671
Taxation and social security 11,798 6,613
Other creditors 2,670 1,692
19,271 13,775

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts 11,997 16,797

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

31.5.24 31.5.23
£    £   
Mr K F Bain
Balance outstanding at start of year (2 ) (2 )
Amounts repaid (488 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (490 ) (2 )