Company registration number SC526565 (Scotland)
KIRN 57 LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 26 FEBRUARY 2025
PAGES FOR FILING WITH REGISTRAR
KIRN 57 LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
KIRN 57 LTD
BALANCE SHEET
AS AT
26 FEBRUARY 2025
26 February 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
5,373
18,287
Current assets
Debtors
5
15,885
87,741
Cash at bank and in hand
4,967
3
20,852
87,744
Creditors: amounts falling due within one year
6
(33,925)
(45,797)
Net current (liabilities)/assets
(13,073)
41,947
Total assets less current liabilities
(7,700)
60,234
Creditors: amounts falling due after more than one year
7
(27,987)
(33,543)
Net (liabilities)/assets
(35,687)
26,691
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(35,688)
26,690
Total equity
(35,687)
26,691

For the financial year ended 26 February 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 director acknowledges his 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.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 17 February 2026
Mr Andrew A Kean
Director
Company registration number SC526565 (Scotland)
KIRN 57 LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 26 FEBRUARY 2025
- 2 -
1
Accounting policies
Company information

Kirn 57 Ltd is a private company limited by shares incorporated in Scotland. The registered office is 6th, Floor, Gordon Chambers 90 Mitchell Street, Glasgow, Scotland, G1 3NQ.

1.1
Basis of preparation

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Revenue

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

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:

Fixtures and fittings
20% on a reducing balance basis
Computers
33% on a straight line basis

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
Taxation

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

KIRN 57 LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 26 FEBRUARY 2025
1
Accounting policies
(Continued)
- 3 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account 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 profit and loss account, 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.

2
Employees

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

2025
2024
Number
Number
1
1
3
Dividends
2025
2024
£
£
Final paid
48,600
83,000
KIRN 57 LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 26 FEBRUARY 2025
- 4 -
4
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 27 February 2024 and 26 February 2025
9,118
35,741
44,859
Depreciation and impairment
At 27 February 2024
4,112
22,460
26,572
Depreciation charged in the year
1,001
11,913
12,914
At 26 February 2025
5,113
34,373
39,486
Carrying amount
At 26 February 2025
4,005
1,368
5,373
At 26 February 2024
5,006
13,281
18,287
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
15,885
87,741
6
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Bank loans
5,556
5,556
Corporation tax
24,705
38,427
Accruals and deferred income
3,664
1,814
33,925
45,797
7
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loans and overdrafts
27,987
33,543
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