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REGISTERED NUMBER: SC312475 (Scotland)













Unaudited Financial Statements

for the Year Ended 30 November 2024

for

KTWO HIRE AND SALES LTD

KTWO HIRE AND SALES LTD (REGISTERED NUMBER: SC312475)






Contents of the Financial Statements
FOR THE YEAR ENDED 30 NOVEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KTWO HIRE AND SALES LTD

Company Information
FOR THE YEAR ENDED 30 NOVEMBER 2024







DIRECTOR: C Q Mitchell





REGISTERED OFFICE: 6th Floor, Gordon Chambers
90 Mitchell Street
Glasgow
G1 3NQ





REGISTERED NUMBER: SC312475 (Scotland)





ACCOUNTANTS: BK Plus Ltd
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ

KTWO HIRE AND SALES LTD (REGISTERED NUMBER: SC312475)

Balance Sheet
30 NOVEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 338,324 357,058

CURRENT ASSETS
Stocks 10,000 -
Debtors 5 280,697 118,825
Cash in hand 45 3,045
290,742 121,870
CREDITORS
Amounts falling due within one year 6 392,565 205,779
NET CURRENT LIABILITIES (101,823 ) (83,909 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

236,501

273,149

CREDITORS
Amounts falling due after more than one
year

7

(49,468

)

(87,387

)

PROVISIONS FOR LIABILITIES (35,022 ) (50,326 )
NET ASSETS 152,011 135,436

CAPITAL AND RESERVES
Called up share capital 102 102
Revaluation reserve 70,000 70,000
Retained earnings 81,909 65,334
152,011 135,436

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

KTWO HIRE AND SALES LTD (REGISTERED NUMBER: SC312475)

Balance Sheet - continued
30 NOVEMBER 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 August 2025 and were signed by:





C Q Mitchell - Director


KTWO HIRE AND SALES LTD (REGISTERED NUMBER: SC312475)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 NOVEMBER 2024

1. STATUTORY INFORMATION

KTWO Hire and Sales Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net
of depreciation and any impairment losses.

Depreciation is provided on all other items of plant and equipment so as to write off their carrying value over their expected useful economic lives. It is provided at the following
rates:
Plant and machinery - 1% on a straight line basis
Motor vehicles - 25% on a reducing balance basis
Computer equipment-33% on a straight line basis

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


KTWO HIRE AND SALES LTD (REGISTERED NUMBER: SC312475)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 18 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 December 2023 457,279 245,879 16,840 719,998
Additions 1,115 6,663 - 7,778
At 30 November 2024 458,394 252,542 16,840 727,776
DEPRECIATION
At 1 December 2023 163,209 188,913 10,818 362,940
Charge for year 4,584 15,907 6,021 26,512
At 30 November 2024 167,793 204,820 16,839 389,452
NET BOOK VALUE
At 30 November 2024 290,601 47,722 1 338,324
At 30 November 2023 294,070 56,966 6,022 357,058

KTWO HIRE AND SALES LTD (REGISTERED NUMBER: SC312475)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 30 November 2024 is represented by:

Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
Valuation in 2011 100,000 - - 100,000
Cost 358,394 252,542 16,840 627,776
458,394 252,542 16,840 727,776

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 280,697 39,845
Other debtors - 78,980
280,697 118,825

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 36,100 21,973
Hire purchase contracts 32,364 35,164
Trade creditors 9,205 24,429
Taxation and social security 69,754 36,624
Other creditors 245,142 87,589
392,565 205,779

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 20,556 26,111
Hire purchase contracts 28,912 61,276
49,468 87,387