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REGISTERED NUMBER: SC642942 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Kirkhill Decorators Ltd

Kirkhill Decorators Ltd (Registered number: SC642942)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Kirkhill Decorators Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: B Eadie





REGISTERED OFFICE: 29 Brandon Street
Hamilton
Lanarkshire
ML3 6DA





BUSINESS ADDRESS: 3 Greenlees Way
Cambuslang
Glasgow
G72 8YG





REGISTERED NUMBER: SC642942 (Scotland)





ACCOUNTANTS: Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA

Kirkhill Decorators Ltd (Registered number: SC642942)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 10,956 15,158

CURRENT ASSETS
Stocks 6 8,744 500
Debtors 7 103,671 56,025
Cash at bank 7,556 10,154
119,971 66,679
CREDITORS
Amounts falling due within one year 8 107,240 59,580
NET CURRENT ASSETS 12,731 7,099
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,687

22,257

CREDITORS
Amounts falling due after more than one
year

9

(14,671

)

(22,081

)

PROVISIONS FOR LIABILITIES (2,739 ) -
NET ASSETS 6,277 176

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 6,276 175
SHAREHOLDERS' FUNDS 6,277 176

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Kirkhill Decorators Ltd (Registered number: SC642942)

Balance Sheet - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 March 2025 and were signed by:





B Eadie - Director


Kirkhill Decorators Ltd (Registered number: SC642942)

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

1. STATUTORY INFORMATION

Kirkhill 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is derived from various paining and decorating services supplied by the company.

Turnover is measured at the fair value of painting and decorating services supplied, net of discounts and excluding value added tax, and is recognised at the point that the company obtains the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 20% on cost
Motor vehicles - 15% on cost
Computer equipment - 33% on cost

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment loss.

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £1,000 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the income statement in the period it is incurred

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


Kirkhill Decorators Ltd (Registered number: SC642942)

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

3. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income statement on a straight line basis.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 3 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 142 26,561 324 27,027
DEPRECIATION
At 1 April 2023 35 11,620 214 11,869
Charge for year 107 3,985 110 4,202
At 31 March 2024 142 15,605 324 16,071
NET BOOK VALUE
At 31 March 2024 - 10,956 - 10,956
At 31 March 2023 107 14,941 110 15,158

Kirkhill Decorators Ltd (Registered number: SC642942)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023
and 31 March 2024 26,561
DEPRECIATION
At 1 April 2023 11,620
Charge for year 3,736
At 31 March 2024 15,356
NET BOOK VALUE
At 31 March 2024 11,205
At 31 March 2023 14,941

6. STOCKS
2024 2023
£    £   
Stocks 8,744 500

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 54,313 52,482
Other debtors 5,916 -
Directors' current accounts 12,623 1,525
Social security and other tax 10,060 -
VAT 17,455 1,732
Prepayments 3,304 286
103,671 56,025

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,264 13,965
Hire purchase contracts 5,495 8,690
Trade creditors 34,808 9,198
Tax 50,717 22,684
Social security and other taxes - 1,043
Other creditors 2,956 -
Accrued expenses 4,000 4,000
107,240 59,580

Kirkhill Decorators Ltd (Registered number: SC642942)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 12,808 19,014
Hire purchase contracts 1,863 3,067
14,671 22,081

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 22,072 32,979

The bank loan is supported by a 100% guarantee from the UK Government.

The finance lease is secured over the assets concerned.

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 March 2024 and the period ended 31 March 2023:

2024 2023
£    £   
B Eadie
Balance outstanding at start of year 1,525 -
Amounts advanced 11,099 1,525
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 12,624 1,525

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Kirkhill Decorators Ltd

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kirkhill Decorators Ltd for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the director of Kirkhill Decorators Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Kirkhill Decorators Ltd and state those matters that we have agreed to state to the director of Kirkhill Decorators Ltd in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Kirkhill Decorators Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Kirkhill Decorators Ltd. You consider that Kirkhill Decorators Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Kirkhill Decorators Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA


27 March 2025