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Registered number: SC744438
Kaimburn Joinery Ltd
Financial Statements
For The Year Ended 30 September 2024
Henderson Kildavaig
109/14 Swanston Road
Edinburgh
EH10 7DS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC744438
30 September 2024 30 September 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 10,166 506
10,166 506
CURRENT ASSETS
Stocks 5 20,397 3,745
Debtors 6 43,026 21,611
Cash at bank and in hand 40,941 47,257
104,364 72,613
Creditors: Amounts Falling Due Within One Year 7 (101,370 ) (46,143 )
NET CURRENT ASSETS (LIABILITIES) 2,994 26,470
TOTAL ASSETS LESS CURRENT LIABILITIES 13,160 26,976
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,200 ) -
NET ASSETS 10,960 26,976
CAPITAL AND RESERVES
Called up share capital 8 150 150
Profit and Loss Account 10,810 26,826
SHAREHOLDERS' FUNDS 10,960 26,976
Page 1
Page 2
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 Michael Lowrie
Director
5 June 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Kaimburn Joinery Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC744438 . The registered office is Kilaire The Green, Oxnam, Jedburgh, TD8 6RU.
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:
Plant & Machinery 15% straight line
Motor Vehicles 25% straight line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
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.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are 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 and deferred tax are recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 October 2023 595 - 595
Additions - 12,999 12,999
As at 30 September 2024 595 12,999 13,594
Depreciation
As at 1 October 2023 89 - 89
Provided during the period 89 3,250 3,339
As at 30 September 2024 178 3,250 3,428
Net Book Value
As at 30 September 2024 417 9,749 10,166
As at 1 October 2023 506 - 506
5. Stocks
30 September 2024 30 September 2023
£ £
Materials 2,000 3,000
Work in progress 18,397 745
20,397 3,745
6. Debtors
30 September 2024 30 September 2023
£ £
Due within one year
Trade debtors 15,257 21,611
Other debtors 27,769 -
43,026 21,611
7. Creditors: Amounts Falling Due Within One Year
30 September 2024 30 September 2023
£ £
Trade creditors 12,984 22,366
Other creditors 71,666 5,582
Taxation and social security 16,720 18,195
101,370 46,143
Page 4
Page 5
8. Share Capital
30 September 2024 30 September 2023
£ £
Allotted, Called up and fully paid 150 150
Page 5