KRAIGLAND_HOMES_LIMITED - Accounts

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

For the financial year ended 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for:

(a) ensuring that the company keeps accounting records which comply with Section 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 of the company.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 of the Companies Act 2006..

These financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

Kraigland Homes Limited is a private company limited by shares incorporated in Scotland. The registered office is 3 Wellington Square, Ayr, Ayrshire, Scotland, KA7 1EN.

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. Monetary amounts 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 turnover shown in the profit and loss account represents revenue recognised by the company in respect of building & contracting services supplied during the period, exclusive of Value Added Tax and any trade discounts if appropriate.

Investment in subsidiary undertakings are recognised at cost.

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Minimum lease payments under non-cancellable operating leases fall due as follows:

Kraigland Properties Ltd a company in which Mr S Sutherland is a director, provided a loan in previous years. There was a £31,000 management charge introduced in the year, this has resulted in a balance of £29,250 being owed from the company. This balance has been included within amounts owed by group undertakings.

The following advances and credits to a director subsisted during the years ended 31 March 2019:

The company is controlled by director Stephen Sutherland who owns 100% of the share capital.