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Registration number: SC196899

Kippen House Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Kippen House Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Kippen House Limited

Company Information

Director

Mr A J McLean

Company secretary

Mr A G Morgan

Mrs Sue McLean

Registered office

12 Rose Terrace
PERTH
PH1 5HA

Accountants

Morris & Young
Chartered Accountants
6 Atholl Crescent
PERTH
PH1 5JN

 

Kippen House Limited

(Registration number: SC196899)
Statement of Financial Position as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

8,042

9,591

Current assets

 

Debtors

6

252,262

335,137

Cash at bank and in hand

 

61,449

97,105

 

313,711

432,242

Creditors: Amounts falling due within one year

7

(213,257)

(295,387)

Net current assets

 

100,454

136,855

Total assets less current liabilities

 

108,496

146,446

Provisions for liabilities

(1,260)

(1,496)

Net assets

 

107,236

144,950

Capital and reserves

 

Called up share capital

12

12

Retained earnings

107,224

144,938

Shareholders' funds

 

107,236

144,950

 

Kippen House Limited

(Registration number: SC196899)
Statement of Financial Position as at 31 October 2024

For the financial 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 accounts for the year in question in accordance with section 476; and

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 in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 9 July 2025
 

.........................................
Mr A J McLean
Director

 

Kippen House Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
12 Rose Terrace
PERTH
PH1 5HA

These financial statements were authorised for issue by the director on 9 July 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling (£) and rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Kippen House Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Fixture, fittings & equipment

15% reducing balance

Motor vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price.

 

Kippen House Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 38 (2023 - 105).

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

1,549

1,875

 

Kippen House Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2023

57,314

22,774

80,088

At 31 October 2024

57,314

22,774

80,088

Depreciation

At 1 November 2023

48,990

21,507

70,497

Charge for the year

1,231

318

1,549

At 31 October 2024

50,221

21,825

72,046

Carrying amount

At 31 October 2024

7,093

949

8,042

At 31 October 2023

8,324

1,267

9,591

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

169,427

183,090

Amounts owed by related parties

67,306

139,306

Prepayments

 

3,749

5,458

Other debtors

 

11,780

7,283

   

252,262

335,137

 

Kippen House Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

4,413

4,857

Amounts owed to group undertakings and undertakings in which the company has a participating interest

152,303

135,303

Taxation and social security

 

14,741

34,775

Accruals and deferred income

 

9,509

9,527

Other creditors

 

32,291

110,925

 

213,257

295,387