KELTON ENGINEERING LIMITED

Company Registration Number:
SC129648 (Scotland)

Unaudited statutory accounts for the year ended 30 September 2023

Period of accounts

Start date: 1 October 2022

End date: 30 September 2023

KELTON ENGINEERING LIMITED

Contents of the Financial Statements

for the Period Ended 30 September 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

KELTON ENGINEERING LIMITED

Directors' report period ended 30 September 2023

The directors present their report with the financial statements of the company for the period ended 30 September 2023

Principal activities of the company

The principal activities of Kelton Engineering Limited (the "Company") were the provision of consultancy services and related software products in flow and quality measurement to the energy industry.



Directors

The directors shown below have held office during the whole of the period from
1 October 2022 to 30 September 2023

Iain Pirie
C D Elcoate
P A Slater


The director shown below has held office during the period of
30 March 2023 to 30 September 2023

M H Shaw


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
10 March 2025

And signed on behalf of the board by:
Name: Iain Pirie
Status: Director

KELTON ENGINEERING LIMITED

Profit And Loss Account

for the Period Ended 30 September 2023

2023 2022


£

£
Turnover: 6,156,416 5,501,656
Cost of sales: ( 3,094,492 ) ( 2,933,486 )
Gross profit(or loss): 3,061,924 2,568,170
Administrative expenses: ( 1,467,500 ) ( 1,029,635 )
Operating profit(or loss): 1,594,424 1,538,535
Profit(or loss) before tax: 1,594,424 1,538,535
Tax: ( 387,310 ) ( 420,011 )
Profit(or loss) for the financial year: 1,207,114 1,118,524

KELTON ENGINEERING LIMITED

Balance sheet

As at 30 September 2023

Notes 2023 2022


£

£
Fixed assets
Intangible assets: 3 464,892 464,892
Tangible assets: 4 32,818 20,317
Total fixed assets: 497,710 485,209
Current assets
Debtors: 5 2,490,552 2,464,609
Cash at bank and in hand: 1,958,346 2,373,755
Total current assets: 4,448,898 4,838,364
Creditors: amounts falling due within one year: 6 ( 2,552,359 ) ( 1,798,827 )
Net current assets (liabilities): 1,896,539 3,039,537
Total assets less current liabilities: 2,394,249 3,524,746
Accruals and deferred income: ( 65,822 ) ( 66,522 )
Total net assets (liabilities): 2,328,427 3,458,224
Capital and reserves
Called up share capital: 75,640 75,640
Share premium account: 166,360 166,360
Other reserves: 100 100
Profit and loss account: 2,086,327 3,216,124
Total Shareholders' funds: 2,328,427 3,458,224

The notes form part of these financial statements

KELTON ENGINEERING LIMITED

Balance sheet statements

For the year ending 30 September 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 10 March 2025
and signed on behalf of the board by:

Name: Iain Pirie
Status: Director

The notes form part of these financial statements

KELTON ENGINEERING LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised: Sale of goods Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on despatch of the goods. Provision of services Turnover from the provision of services is recognised by reference to the consultancy work completed during the year. Licences Licence income is received in full at the commencement of the licence. Where on-going technical support is provided, revenue is deferred over the period during which the service is provided.

    Tangible fixed assets depreciation policy

    Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis: Leasehold improvements - over the term of the lease Plant and machinery - 15% per annum reducing balance Computer equipment - 33% per annum straight line The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

    Intangible fixed assets amortisation policy

    Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Software is estimated to have a useful economic life of 5 years. Assets in the course of construction are not amortised until they come into use. In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred.

    Other accounting policies

    As per section 2 of the full audited accounts

KELTON ENGINEERING LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 32 31

KELTON ENGINEERING LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2023

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 1 October 2022 1,139,627 1,139,627
Additions
Disposals
Revaluations
Transfers
At 30 September 2023 1,139,627 1,139,627
Amortisation
At 1 October 2022 674,735 674,735
Charge for year
On disposals
Other adjustments
At 30 September 2023 674,735 674,735
Net book value
At 30 September 2023 464,892 464,892
At 30 September 2022 464,892 464,892

KELTON ENGINEERING LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2023

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 October 2022 76,468 42,425 56,054 174,947
Additions 26,206 2,959 29,165
Disposals
Revaluations
Transfers
At 30 September 2023 76,468 68,631 59,013 204,112
Depreciation
At 1 October 2022 76,468 40,923 37,239 154,630
Charge for year 6,049 10,615 16,664
On disposals
Other adjustments
At 30 September 2023 76,468 46,972 47,854 171,294
Net book value
At 30 September 2023 0 21,659 11,159 32,818
At 30 September 2022 0 1,502 18,815 20,317

KELTON ENGINEERING LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2023

5. Debtors

2023 2022
£ £
Trade debtors 1,649,542 1,870,486
Prepayments and accrued income 664,549 370,223
Other debtors 176,461 223,900
Total 2,490,552 2,464,609

KELTON ENGINEERING LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2023

6. Creditors: amounts falling due within one year note

2023 2022
£ £
Trade creditors 126,901 136,172
Taxation and social security 962,536 434,063
Accruals and deferred income 1,328,920 1,043,946
Other creditors 134,002 184,646
Total 2,552,359 1,798,827