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REGISTERED NUMBER: SC327105 (Scotland)















Report of the Director and

Unaudited Financial Statements for the Year Ended 30 June 2024

for

Kingshill Decorators Ltd

Kingshill Decorators Ltd (Registered number: SC327105)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Report of the Director 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


Kingshill Decorators Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTOR: J J Allan





SECRETARY: Mrs A Allan





REGISTERED OFFICE: 191 Station Road
Shotts
North Lanarkshire
ML7 4BA





REGISTERED NUMBER: SC327105 (Scotland)





ACCOUNTANTS: EAC Accountancy Limited
191 Station Road
Shotts
North Lanarkshire
ML7 4BA

Kingshill Decorators Ltd (Registered number: SC327105)

Report of the Director
for the Year Ended 30 June 2024

The director presents his report with the financial statements of the company for the year ended 30 June 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of painting and decorating.

DIRECTOR
J J Allan held office during the whole of the period from 1 July 2023 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





J J Allan - Director


5 September 2024

Kingshill Decorators Ltd (Registered number: SC327105)

Income Statement
for the Year Ended 30 June 2024

30.6.24 30.6.23
Notes £    £   

TURNOVER 84,091 100,090

Cost of sales 4,411 4,134
GROSS PROFIT 79,680 95,956

Administrative expenses 54,653 42,659
OPERATING PROFIT 4 25,027 53,297


Interest payable and similar
expenses

489

347
PROFIT BEFORE TAXATION 24,538 52,950

Tax on profit 4,662 10,061
PROFIT FOR THE FINANCIAL YEAR 19,876 42,889

Kingshill Decorators Ltd (Registered number: SC327105)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 8,911 11,881

CURRENT ASSETS
Debtors 6 3,631 6,036
Cash at bank - 9,868
3,631 15,904
CREDITORS
Amounts falling due within one year 7 16,814 19,725
NET CURRENT LIABILITIES (13,183 ) (3,821 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(4,272

)

8,060

CREDITORS
Amounts falling due after more than
one year

8

(3,500

)

(9,473

)

PROVISIONS FOR LIABILITIES (1,693 ) (2,257 )
NET LIABILITIES (9,465 ) (3,670 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (9,565 ) (3,770 )
(9,465 ) (3,670 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Kingshill Decorators Ltd (Registered number: SC327105)

Balance Sheet - continued
30 June 2024


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 5 September 2024 and were signed by:





J J Allan - Director


Kingshill Decorators Ltd (Registered number: SC327105)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Kingshill Decorators 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.

25% Reducing Balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Kingshill Decorators Ltd (Registered number: SC327105)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

3. EMPLOYEES AND DIRECTORS

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

4. OPERATING PROFIT

The operating profit is stated after charging:

30.6.24 30.6.23
£    £   
Depreciation - owned assets 2,970 3,960

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023
and 30 June 2024 28,754
DEPRECIATION
At 1 July 2023 16,873
Charge for year 2,970
At 30 June 2024 19,843
NET BOOK VALUE
At 30 June 2024 8,911
At 30 June 2023 11,881

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Other debtors 3,631 6,036

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 8,984 3,000
Hire purchase contracts 3,468 5,945
Taxation and social security 4,134 10,552
Other creditors 228 228
16,814 19,725

Kingshill Decorators Ltd (Registered number: SC327105)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans 3,500 6,500
Hire purchase contracts - 2,973
3,500 9,473