Registered number
09862857
Kilcollum Limited
Filleted Accounts
30 November 2024
Kilcollum Limited
Registered number: 09862857
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 23,108 21,429
Current assets
Debtors 5 27,615 60,078
Cash at bank and in hand 91,451 36,863
119,066 96,941
Creditors: amounts falling due within one year 6 (68,529) (95,922)
Net current assets 50,537 1,019
Total assets less current liabilities 73,645 22,448
Provisions for liabilities (3,675) (5,357)
Net assets 69,970 17,091
Capital and reserves
Called up share capital 2 2
Profit and loss account 69,968 17,089
Shareholders' funds 69,970 17,091
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
David Asher
Director
Approved by the board on 15.07.25
Kilcollum Limited
Notes to the Accounts
for the year ended 30 November 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Vehicle over 5 years
Office and Computer equipment Over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Other operating income
There was no other operating income received.
4 Tangible fixed assets
Land and buildings Computers Motor vehicles Total
£ £ £ £
Cost
At 1 December 2023 372 11,341 45,668 57,381
Additions - 3,154 27,099 30,253
Disposals - - (45,668) (45,668)
At 30 November 2024 372 14,495 27,099 41,966
Depreciation
At 1 December 2023 280 9,478 26,194 35,952
Charge for the year 56 3,624 5,420 9,100
On disposals - - (26,194) (26,194)
At 30 November 2024 336 13,102 5,420 18,858
Net book value
At 30 November 2024 36 1,393 21,679 23,108
At 30 November 2023 92 1,863 19,474 21,429
5 Debtors 2024 2023
£ £
Trade debtors 27,615 43,151
Other debtors - 16,927
27,615 60,078
6 Creditors: amounts falling due within one year 2024 2023
£ £
Corporation tax 20,860 13,916
Other taxes and social security costs 29,016 15,216
Other creditors 18,653 66,790
68,529 95,922
7 Controlling party
The company is controlled by Mr D Asher and Mrs A Asher
8 Other information
Kilcollum Limited is a private company limited by shares and incorporated in England. Its registered office is:
33 Pickard Crescent
Highgrove
Sheffield
S13 8EY
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