Kea Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC451203 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2020

FOR

KEA LTD

Page

Abridged Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

2,648

3,530

CURRENT ASSETS

Debtors

117,836

44,676

Cash at bank and in hand

40,944

73,998

158,780

118,674

CREDITORS

Amounts falling due within one year

158,355

119,072

NET CURRENT ASSETS/(LIABILITIES)

425

(398

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,073

3,132

PROVISIONS FOR LIABILITIES

503

671

NET ASSETS

2,570

2,461

CAPITAL AND RESERVES

Called up share capital

12

12

Retained earnings

2,558

2,449

SHAREHOLDERS' FUNDS

2,570

2,461

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 31 May 2021 and were signed on its behalf by:

D MacKay - Director

1.	STATUTORY INFORMATION

Kea Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address are as below:

Registered number:

SC451203

Registered office:

22 Backbrae Street

Kilsyth

Glasgow

North Lanarkshire

G65 0NH

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.

Turnover and revenue recognition

Turnover represents net invoiced sales of goods and services, excluding VAT. Revenue is recognised when goods and services are provided to the customer.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Government grants

The accounting policy adopted for the recognition of government grants is the performance model.

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.

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 14 (2019 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2019

and 31 May 2020

7,725

DEPRECIATION

At 1 June 2019

4,195

Charge for year

882

At 31 May 2020

5,077

NET BOOK VALUE

At 31 May 2020

2,648

At 31 May 2019

3,530

5.	ULTIMATE CONTROLLING PARTY

The controlling party is D MacKay.

The ultimate controlling party is D MacKay.