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KDM RECOVERY LIMITED

Registered Number
SC636559
(Scotland)

Unaudited Financial Statements for the Year ended
31 July 2024

KDM RECOVERY LIMITED
Company Information
for the year from 1 August 2023 to 31 July 2024

Director

MCADAM, Daryll

Registered Address

71-73 Abercorn Street
Paisley
PA3 4AS

Registered Number

SC636559 (Scotland)
KDM RECOVERY LIMITED
Statement of Financial Position
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3699798
Tangible assets435,19046,953
35,88947,751
Current assets
Debtors35,22811,162
Cash at bank and on hand6,66416,641
41,89227,803
Creditors amounts falling due within one year5(54,025)(18,728)
Net current assets (liabilities)(12,133)9,075
Total assets less current liabilities23,75656,826
Net assets23,75656,826
Capital and reserves
Called up share capital11
Profit and loss account23,75556,825
Shareholders' funds23,75656,826
The financial statements were approved and authorised for issue by the Board of Directors on 22 April 2025, and are signed on its behalf by:
MCADAM, Daryll
Director
Registered Company No. SC636559
KDM RECOVERY LIMITED
Notes to the Financial Statements
for the year ended 31 July 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Plant and machinery25-
Vehicles25-
Office Equipment-3
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year22
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 August 23998998
At 31 July 24998998
Amortisation and impairment
At 01 August 23200200
Charge for year9999
At 31 July 24299299
Net book value
At 31 July 24699699
At 31 July 23798798
4.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 August 2374,4506,3001,29882,048
Additions7,000--7,000
Disposals(14,000)(6,300)-(20,300)
At 31 July 2467,450-1,29868,748
Depreciation and impairment
At 01 August 2328,3636,30043235,095
Charge for year12,013--12,013
On disposals(7,250)(6,300)-(13,550)
At 31 July 2433,126-43233,558
Net book value
At 31 July 2434,324-86635,190
At 31 July 2346,087-86646,953
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-929
Bank borrowings and overdrafts-1,386
Amounts owed to related parties15,234124
Taxation and social security36,12814,639
Accrued liabilities and deferred income2,6631,650
Total54,02518,728