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Registered number: SC210482
Kem Drawing Services Ltd.
Unaudited Financial Statements
For The Year Ended 31 October 2024
Almond Valley Accounting Limited
CIMA
Suite 14 Ellismuir House Ellismuir Way
Uddingston
Glasgow
G71 5PW
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: SC210482
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 112,342 73,327
112,342 73,327
CURRENT ASSETS
Debtors 5 174,900 171,713
Cash at bank and in hand 64,436 42,185
239,336 213,898
Creditors: Amounts Falling Due Within One Year 6 (96,235 ) (64,564 )
NET CURRENT ASSETS (LIABILITIES) 143,101 149,334
TOTAL ASSETS LESS CURRENT LIABILITIES 255,443 222,661
Creditors: Amounts Falling Due After More Than One Year 7 (71,923 ) (47,275 )
NET ASSETS 183,520 175,386
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 183,420 175,286
SHAREHOLDERS' FUNDS 183,520 175,386
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Kevin McInally
Director
02/06/2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Kem Drawing Services Ltd. is a private company, limited by shares, incorporated in Scotland, registered number SC210482 . The registered office is 98 Hamilton Road, Motherwell, ML1 3DG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover 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.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10% straight line
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under 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 the 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 outstanding 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 profit and loss account as incurred.
2.5. Taxation
Income tax expense represents the sum of the tax currently payabl. 
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax is recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current tax is recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2023: 10)
10 10
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Page 3
4. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 November 2023 13,270 71,550 4,894 35,219 124,933
Additions - 55,610 - 133 55,743
As at 31 October 2024 13,270 127,160 4,894 35,352 180,676
Depreciation
As at 1 November 2023 1,491 12,679 4,489 32,947 51,606
Provided during the period 1,327 14,695 101 605 16,728
As at 31 October 2024 2,818 27,374 4,590 33,552 68,334
Net Book Value
As at 31 October 2024 10,452 99,786 304 1,800 112,342
As at 1 November 2023 11,779 58,871 405 2,272 73,327
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 89,949 101,464
Amounts owed by group undertakings 76,500 62,500
Other debtors 8,451 7,749
174,900 171,713
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 25,963 8,576
Trade creditors (1 ) 3,611
Other creditors 14,041 5,889
Taxation and social security 56,232 46,488
96,235 64,564
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 71,923 47,275
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Page 4
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 25,963 8,576
Later than one year and not later than five years 71,923 47,275
97,886 55,851
97,886 55,851
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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