15 false false false false false false false false false false true false false false false false false No description of principal activity 2023-11-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP SC229764 2023-11-01 2024-10-31 SC229764 2024-10-31 SC229764 2023-10-31 SC229764 2022-11-01 2023-10-31 SC229764 2023-10-31 SC229764 2022-10-31 SC229764 core:PlantMachinery 2023-11-01 2024-10-31 SC229764 core:MotorVehicles 2023-11-01 2024-10-31 SC229764 bus:Director1 2023-11-01 2024-10-31 SC229764 core:PlantMachinery 2023-10-31 SC229764 core:MotorVehicles 2023-10-31 SC229764 core:LandBuildings 2024-10-31 SC229764 core:PlantMachinery 2024-10-31 SC229764 core:MotorVehicles 2024-10-31 SC229764 core:WithinOneYear 2024-10-31 SC229764 core:WithinOneYear 2023-10-31 SC229764 core:ShareCapital 2024-10-31 SC229764 core:ShareCapital 2023-10-31 SC229764 core:RetainedEarningsAccumulatedLosses 2024-10-31 SC229764 core:RetainedEarningsAccumulatedLosses 2023-10-31 SC229764 core:LandBuildings 2023-10-31 SC229764 core:PlantMachinery 2023-10-31 SC229764 core:MotorVehicles 2023-10-31 SC229764 bus:SmallEntities 2023-11-01 2024-10-31 SC229764 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 SC229764 bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 SC229764 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 SC229764 bus:FullAccounts 2023-11-01 2024-10-31
COMPANY REGISTRATION NUMBER: SC229764
Kirklands Business Solutions Limited
Filleted Unaudited Financial Statements
31 October 2024
Kirklands Business Solutions Limited
Statement of Financial Position
31 October 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
215,413
221,451
Current assets
Debtors
6
115,496
120,843
Cash at bank and in hand
49,480
3,747
---------
---------
164,976
124,590
Creditors: amounts falling due within one year
7
272,888
266,614
---------
---------
Net current liabilities
107,912
142,024
---------
---------
Total assets less current liabilities
107,501
79,427
---------
--------
Net assets
107,501
79,427
---------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
107,401
79,327
---------
--------
Shareholder funds
107,501
79,427
---------
--------
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 income and retained earnings has not been delivered.
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.
Directors' responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Kirklands Business Solutions Limited
Statement of Financial Position (continued)
31 October 2024
These financial statements were approved by the board of directors and authorised for issue on 11 July 2025 , and are signed on behalf of the board by:
Mr G. M. Gibson
Director
Company registration number: SC229764
Kirklands Business Solutions 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 7 King Street, Perth, Perthshire, PH2 8HR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 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
The turnover shown in the profit and loss account represents the invoiced value of services provided during the period, stated net of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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:
Computer equipment
-
25% straight line
Motor vehicles
-
25% reducing balance
The land owned by the company is not depreciated.
Impairment of fixed assets
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.
Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank deposits and directors loans, to or from the company. Trade debtors and trade creditors are measured at the undiscounted amounts receivable from a customer or payable to a supplier, which is normally the invoice price. Trade debtors are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found, an impairment loss is recognised in profit or loss. Bank deposits are measured at the undiscounted amounts held on deposit at the end of the reporting period. Directors' loans to or from the company which are repayable on demand are measured at the undiscounted amount of the cash expected to be paid.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 15 (2023: 22 ).
5. Tangible assets
Land
Computer Equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 November 2023 and 31 October 2024
203,460
21,258
10,000
234,718
---------
--------
--------
---------
Depreciation
At 1 November 2023
8,423
4,844
13,267
Charge for the year
4,749
1,289
6,038
---------
--------
--------
---------
At 31 October 2024
13,172
6,133
19,305
---------
--------
--------
---------
Carrying amount
At 31 October 2024
203,460
8,086
3,867
215,413
---------
--------
--------
---------
At 31 October 2023
203,460
12,835
5,156
221,451
---------
--------
--------
---------
6. Debtors
2024
2023
£
£
Trade debtors
101,770
106,835
Other debtors
13,726
14,008
---------
---------
115,496
120,843
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
20,567
21,270
Social security and other taxes
40,665
38,996
Other creditors
211,656
206,348
---------
---------
272,888
266,614
---------
---------
8. Transition to frs102
The company transitioned to FRS102 in the year to 31 October 2023. The transition did not require any adjustments to the values included in the financial statements.