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Registration number: SC360213

Kimberley Krug Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2024

 

Kimberley Krug Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Kimberley Krug Ltd

Company Information

Director

Mr John Webb

Registered office

Osborne House
28-30 Carden Place
ABERDEEN
AB10 1UP

Accountants

Carnegie Accountancy
Chartered Certified Accountant
24 Carnegie Crescent
Aberdeen
AB15 4AE

 

Kimberley Krug Ltd

(Registration number: SC360213)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

13,435

25,568

Current assets

 

Debtors

5

463,111

469,190

Cash at bank and in hand

 

212

5,855

 

463,323

475,045

Creditors: Amounts falling due within one year

6

(325,585)

(324,882)

Net current assets

 

137,738

150,163

Total assets less current liabilities

 

151,173

175,731

Provisions for liabilities

-

(1,397)

Net assets

 

151,173

174,334

Capital and reserves

 

Called up share capital

2

2

Retained earnings

151,171

174,332

Shareholders' funds

 

151,173

174,334

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

Director's 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 director acknowledges his 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.

Approved and authorised by the director on 27 February 2025
 

.........................................
Mr John Webb
Director

 

Kimberley Krug Ltd

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

1

General information

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

The address of its registered office is:
Osborne House
28-30 Carden Place
ABERDEEN
AB10 1UP

These financial statements were authorised for issue by the director on 27 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements and key sources of estimation uncertainty

In the application of the company's policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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.

 

Kimberley Krug Ltd

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

Tax

The tax expense for the period comprises 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.

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.

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 or valuation of assets less their residual values over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% straight line

Motor vehicles

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Kimberley Krug Ltd

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

4

Tangible assets

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 June 2023

22,119

57,845

79,964

At 31 May 2024

22,119

57,845

79,964

Depreciation

At 1 June 2023

18,697

35,701

54,398

Charge for the year

1,672

10,459

12,131

At 31 May 2024

20,369

46,160

66,529

Carrying amount

At 31 May 2024

1,750

11,685

13,435

At 31 May 2023

3,423

22,145

25,568

5

Debtors

Current

2024
£

2023
£

Trade debtors

-

42,522

Other debtors

463,111

426,668

 

463,111

469,190

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

1,294

3,143

Taxation and social security

2,184

484

Other creditors

322,107

321,255

325,585

324,882

 

Kimberley Krug Ltd

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

7

Related party transactions

Transactions with the director

2024

At 1 June 2023
£

Advances to director
£

At 31 May 2024
£

Mr John Webb

289,630

82,260

371,890