Registered number
SC234098
K2 Marketing Solutions Limited
Filleted Accounts
31 October 2024
K2 Marketing Solutions Limited
Registered number: SC234098
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 7,994 5,733
Current assets
Debtors 5 29,442 24,384
Cash at bank and in hand 79,737 110,950
109,179 135,334
Creditors: amounts falling due within one year 6 (18,351) (25,455)
Net current assets 90,828 109,879
Total assets less current liabilities 98,822 115,612
Provisions for liabilities (760) (760)
Net assets 98,062 114,852
Capital and reserves
Called up share capital 100 100
Profit and loss account 97,962 114,752
Shareholders' funds 98,062 114,852
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S Kennedy
Director
Approved by the board on 26 May 2025
K2 Marketing Solutions Limited
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
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).
Turnover
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 rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 15% Reducing Balance
Fixtures, fittings, tools and equipment 15% Reducing Balance
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.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 November 2023 25,000
At 31 October 2024 25,000
Amortisation
At 1 November 2023 25,000
At 31 October 2024 25,000
Net book value
At 31 October 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2023 12,305
Additions 3,331
At 31 October 2024 15,636
Depreciation
At 1 November 2023 6,572
Charge for the year 1,070
At 31 October 2024 7,642
Net book value
At 31 October 2024 7,994
At 31 October 2023 5,733
5 Debtors 2024 2023
£ £
Trade debtors 24,342 21,384
Other debtors 5,100 3,000
29,442 24,384
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 750 590
Trade creditors 1,323 11,120
Taxation and social security costs 14,936 12,379
Other creditors 1,342 1,366
18,351 25,455
7 Other information
K2 Marketing Solutions Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
31 West Vows Walk
Kirkcaldy
Fife
KY11RX
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