Company registration number SC316566 (Scotland)
Ken Malcolm Equipment Limited
Unaudited financial statements
for the year ended 30 April 2025
Pages for filing with registrar
Ken Malcolm Equipment Limited
Chartered Accountants' report to the board of directors on the preparation of the
unaudited statutory financial statements of Ken Malcolm Equipment Limited
1

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ken Malcolm Equipment Limited for the year ended 30 April 2025 which comprise, the statement of financial position and the related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the ICAS we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-j une-20 20.

This report is made solely to the Board of Directors of Ken Malcolm Equipment Limited, as a body, in accordance with the terms of our engagement letter dated 21 April 2010. Our work has been undertaken solely to prepare for your approval the financial statements of Ken Malcolm Equipment Limited and state those matters that we have agreed to state to the Board of Directors of Ken Malcolm Equipment Limited, as a body, in this report in accordance with the requirements of the ICAS as detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-j une-20 20. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ken Malcolm Equipment Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Ken Malcolm Equipment Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ken Malcolm Equipment Limited. You consider that Ken Malcolm Equipment Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Ken Malcolm Equipment Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory f inancial statements.

James Milne
Chartered Accountants
5 High Street
Inverurie
AB51 3QA
23 January 2026
Ken Malcolm Equipment Limited
Statement of financial position
as at 30 April 2025
30 April 2025
2
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
151,602
144,107
Current assets
Stocks
70,000
65,000
Debtors
330,340
388,522
Cash at bank and in hand
257,403
193,897
657,743
647,419
Creditors: amounts falling due within one year
(394,577)
(378,224)
Net current assets
263,166
269,195
Total assets less current liabilities
414,768
413,302
Provisions for liabilities
(7,208)
(5,733)
Net assets
407,560
407,569
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
407,460
407,469
Total equity
407,560
407,569
Ken Malcolm Equipment Limited
Statement of financial position (continued)
as at 30 April 2025
30 April 2025
3

For the financial year ended 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have 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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These 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, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 22 January 2026 and are signed on its behalf by:
Kenneth Malcolm
Aileen Malcolm
Director
Director
Company registration number SC316566 (Scotland)
Ken Malcolm Equipment Limited
Notes to the financial statements
for the year ended 30 April 2025
4
1
Accounting policies
Company information

Ken Malcolm Equipment Limited is a private company limited by shares incorporated in Scotland. The registered office is Old Station Yard, Station Road, Newmachar, Aberdeenshire, AB21 0PW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

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

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold property
No depreciation is provided
Property improvements
5% straight line
Plant and equipment
20% reducing balance
Fixtures and fittings
33.3% straight line
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Ken Malcolm Equipment Limited
Notes to the financial statements (continued)
for the year ended 30 April 2025
1
Accounting policies (continued)
5
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Ken Malcolm Equipment Limited
Notes to the financial statements (continued)
for the year ended 30 April 2025
6
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
11
11
3
Tangible fixed assets
Total
£
Cost
At 1 May 2024
294,236
Additions
21,345
Disposals
(17,565)
At 30 April 2025
298,016
Depreciation and impairment
At 1 May 2024
150,129
Depreciation charged in the year
12,862
Eliminated in respect of disposals
(16,577)
At 30 April 2025
146,414
Carrying amount
At 30 April 2025
151,602
At 30 April 2024
144,107
4
Directors' transactions

The company pays rent to the directors for the property on an arm's length basis of £6,000 per annum (2024 - £6,000).

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