4 01/11/2023 31/10/2024 2024-10-31 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-11-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP SC349017 2023-11-01 2024-10-31 SC349017 2024-10-31 SC349017 2023-10-31 SC349017 2022-11-01 2023-10-31 SC349017 2023-10-31 SC349017 2022-10-31 SC349017 core:FurnitureFittingsToolsEquipment 2023-11-01 2024-10-31 SC349017 core:OnerousContractsExcludingVacantProperties 2023-11-01 2024-10-31 SC349017 core:NetGoodwill 2023-11-01 2024-10-31 SC349017 bus:RegisteredOffice 2023-11-01 2024-10-31 SC349017 bus:LeadAgentIfApplicable 2023-11-01 2024-10-31 SC349017 bus:Director1 2023-11-01 2024-10-31 SC349017 bus:CompanySecretary1 2023-11-01 2024-10-31 SC349017 core:NetGoodwill 2023-10-31 SC349017 core:NetGoodwill 2024-10-31 SC349017 core:FurnitureFittingsToolsEquipment 2023-10-31 SC349017 core:FurnitureFittingsToolsEquipment 2024-10-31 SC349017 core:WithinOneYear 2024-10-31 SC349017 core:WithinOneYear 2023-10-31 SC349017 core:AfterOneYear 2024-10-31 SC349017 core:AfterOneYear 2023-10-31 SC349017 core:ShareCapital 2024-10-31 SC349017 core:ShareCapital 2023-10-31 SC349017 core:SharePremium 2024-10-31 SC349017 core:SharePremium 2023-10-31 SC349017 core:RetainedEarningsAccumulatedLosses 2024-10-31 SC349017 core:RetainedEarningsAccumulatedLosses 2023-10-31 SC349017 core:NetGoodwill 2023-10-31 SC349017 core:FurnitureFittingsToolsEquipment 2023-10-31 SC349017 bus:Director1 2024-10-31 SC349017 bus:Director1 2023-10-31 SC349017 bus:SmallEntities 2023-11-01 2024-10-31 SC349017 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 SC349017 bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 SC349017 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 SC349017 bus:FullAccounts 2023-11-01 2024-10-31 SC349017 core:ComputerEquipment 2023-11-01 2024-10-31 SC349017 core:ComputerEquipment 2024-10-31 SC349017 core:ComputerEquipment 2023-10-31
Company registration number: SC349017
The Kemsley Agency Limited
Unaudited filleted financial statements
31 October 2024
The Kemsley Agency Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
The Kemsley Agency Limited
Directors and other information
Director Michael D H Kemsley
Secretary Michael D H Kemsley
Company number SC349017
Registered office 11 Ashley Street
Glasgow
G3 6DR
Business address 11 Ashley Street
Glasgow
G3 6DR
Accountants Barrie Scott & Co.
16-18 Weir Street
Falkirk
FK1 1RA
The Kemsley Agency Limited
Report to the director on the preparation of the
unaudited statutory financial statements of The Kemsley Agency Limited
Year ended 31 October 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Kemsley Agency Limited for the year ended 31 October 2024 which comprise the statement of financial position, statement of changes in equity and 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 https://www.icas.com/regulation-technical-resources/documents/framework-for-the-preparation -of-accounts-revised-june-2020.
This report is made solely to the director of The Kemsley Agency Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of The Kemsley Agency Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of ICAS as detailed at https://www.icas.com/regulation-technical-resources/ documents/framework-for-the-preparation-of-accounts-revised-june-2020. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Kemsley Agency Limited and its director as a body for our work or for this report.
It is your duty to ensure that The Kemsley Agency Limited 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 loss of The Kemsley Agency Limited. You consider that The Kemsley Agency Limited 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 The Kemsley Agency Limited. 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.
Barrie Scott & Co.
Accountants & Tax Advisers
16-18 Weir Street
Falkirk
FK1 1RA
4 June 2025
The Kemsley Agency Limited
Statement of financial position
31 October 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 5 97,395 121,743
Tangible assets 6 2,258 5,143
_______ _______
99,653 126,886
Current assets
Debtors 7 364,487 385,805
Cash at bank and in hand 75,839 133,659
_______ _______
440,326 519,464
Creditors: amounts falling due
within one year 8 ( 106,849) ( 192,427)
_______ _______
Net current assets 333,477 327,037
_______ _______
Total assets less current liabilities 433,130 453,923
Creditors: amounts falling due
after more than one year 9 ( 5,833) ( 15,833)
Provisions for liabilities ( 565) ( 977)
_______ _______
Net assets 426,732 437,113
_______ _______
Capital and reserves
Called up share capital 1,000 1,000
Share premium account 499,000 499,000
Profit and loss account ( 73,268) ( 62,887)
_______ _______
Shareholders funds 426,732 437,113
_______ _______
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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 04 June 2025 , and are signed on behalf of the board by:
Michael D H Kemsley
Director
Company registration number: SC349017
The Kemsley Agency Limited
Notes to the financial statements
Year ended 31 October 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is The Kemsley Agency Limited, 11 Ashley Street, Glasgow, G3 6DR.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover comprises the fair value of advertising services provided, net of Value Added Tax. Revenue from advertising is recognised when the service has been provided.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 15 % reducing balance
Computer equipment - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 7 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 November 2023 and 31 October 2024 486,964 486,964
_______ _______
Amortisation
At 1 November 2023 365,221 365,221
Charge for the year 24,348 24,348
_______ _______
At 31 October 2024 389,569 389,569
_______ _______
Carrying amount
At 31 October 2024 97,395 97,395
_______ _______
At 31 October 2023 121,743 121,743
_______ _______
6. Tangible assets
Fixtures, fittings and equipment Computer equipment Total
£ £ £
Cost
At 1 November 2023 and 31 October 2024 8,630 48,104 56,734
_______ _______ _______
Depreciation
At 1 November 2023 6,636 44,955 51,591
Charge for the year 299 2,586 2,885
_______ _______ _______
At 31 October 2024 6,935 47,541 54,476
_______ _______ _______
Carrying amount
At 31 October 2024 1,695 563 2,258
_______ _______ _______
At 31 October 2023 1,994 3,149 5,143
_______ _______ _______
7. Debtors
2024 2023
£ £
Trade debtors 83,825 113,918
Amounts owed by associated company 134,912 126,137
Other debtors 145,750 145,750
_______ _______
364,487 385,805
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loan 10,000 10,000
Trade creditors 61,652 143,250
Corporation tax 3,934 4,879
Social security and other taxes 25,461 30,608
Other creditors 5,802 3,690
_______ _______
106,849 192,427
_______ _______
9. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loan 5,833 15,833
_______ _______
10. Directors advances, credits and guarantees
Balance brought forward and o/standing Balance brought forward and o/standing
2024 2023
£ £
Michael D H Kemsley 20,000 20,000
_______ _______
11. Controlling party
The company is controlled by the director Mr M D H Kemsley.