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REGISTERED NUMBER: SC398581 (Scotland)










Unaudited Financial Statements for the Year Ended 30 April 2024

for

The Kelvin Partnership Ltd.

The Kelvin Partnership Ltd. (Registered number: SC398581)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Kelvin Partnership Ltd.

Company Information
for the Year Ended 30 April 2024







DIRECTORS: C.M. Fotheringham BSc CA
R Henry BSc FCA
BM Meldrum CA





REGISTERED OFFICE: The Cooper Building
505 Great Western Road
Glasgow
G12 8HN





REGISTERED NUMBER: SC398581 (Scotland)





ACCOUNTANTS: The Kelvin Partnership Ltd
Chartered Accountants
The Cooper Building
505 Great Western Road
Glasgow
G12 8HN

The Kelvin Partnership Ltd. (Registered number: SC398581)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 100,000 150,000
Tangible assets 5 10,582 13,705
110,582 163,705

CURRENT ASSETS
Stocks 323,823 348,823
Debtors 6 208,932 197,054
Cash in hand 2,626 533
535,381 546,410
CREDITORS
Amounts falling due within one year 7 243,457 306,947
NET CURRENT ASSETS 291,924 239,463
TOTAL ASSETS LESS CURRENT
LIABILITIES

402,506

403,168

CREDITORS
Amounts falling due after more than one
year

8

253,415

254,918
NET ASSETS 149,091 148,250

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 148,791 147,950
149,091 148,250

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The Kelvin Partnership Ltd. (Registered number: SC398581)

Balance Sheet - continued
30 April 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 Board of Directors and authorised for issue on 29 April 2025 and were signed on its behalf by:





C.M. Fotheringham BSc CA - Director


The Kelvin Partnership Ltd. (Registered number: SC398581)

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

1. STATUTORY INFORMATION

The Kelvin Partnership 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 20% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


The Kelvin Partnership Ltd. (Registered number: SC398581)

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

2. 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 21 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 900,000
AMORTISATION
At 1 May 2023 750,000
Charge for year 50,000
At 30 April 2024 800,000
NET BOOK VALUE
At 30 April 2024 100,000
At 30 April 2023 150,000

The Kelvin Partnership Ltd. (Registered number: SC398581)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 192,580
Additions 526
At 30 April 2024 193,106
DEPRECIATION
At 1 May 2023 178,875
Charge for year 3,649
At 30 April 2024 182,524
NET BOOK VALUE
At 30 April 2024 10,582
At 30 April 2023 13,705

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 199,639 187,761
Other debtors 9,293 9,293
208,932 197,054

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 56,770 48,653
Trade creditors 6,117 6,116
Taxation and social security 111,762 100,921
Other creditors 68,808 151,257
243,457 306,947

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.4.24 30.4.23
£    £   
Other creditors 253,415 254,918