| KC ENVIRONMENTAL LTD |
| Notes to the Accounts |
| for the year ended 31 December 2024 |
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| 1 |
ACCOUNTING POLICIES |
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Basis of preparation |
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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). |
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Turnover |
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Turnover is measured at the fair value of the consideration receivable, net of discounts and value added taxes. Turnover from the sale of any goods is recognised when goods are delivered and legal title has passed. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Office equipment |
25% p.a. on a reducing balance basis |
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Deferred Taxation |
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Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on a non-discounted basis at the tax rates which are expected to apply in the periods when the timing differences are expected to reverse. |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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| 2 |
EMPLOYEES |
2024 |
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2023 |
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Number |
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Number |
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Average number of persons employed by the company |
- |
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- |
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(excluding directors with no specific service contract) |
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