Kenkleen Limited - Accounts to registrar (filleted) - small 22.3

Kenkleen Limited - Accounts to registrar (filleted) - small 22.3

KENKLEEN LIMITED - Company Information

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KENKLEEN LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2022






KENKLEEN LIMITED (REGISTERED NUMBER: SC144064)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

KENKLEEN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2022







DIRECTORS: A J K Oliver
M J W Oliver





SECRETARY: A J K Oliver





REGISTERED OFFICE: Unit 8F Tweedbank Industrial Estate
Tweedbank
Galashiels
TD1 3TE





REGISTERED NUMBER: SC144064 (Scotland)





ACCOUNTANTS: JRW
Chartered Accountants
19 Buccleuch Street
Hawick
Roxburghshire
TD9 0HL
Page 1
KENKLEEN LIMITED (REGISTERED NUMBER: SC144064)

STATEMENT OF FINANCIAL POSITION
31ST MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,020 5,665

CURRENT ASSETS
Stocks 5 850 13,941
Debtors 6 105,961 84,121
Cash at bank 13,109 46,256
119,920 144,318
CREDITORS
Amounts falling due within one year 7 59,486 77,126
NET CURRENT ASSETS 60,434 67,192
TOTAL ASSETS LESS CURRENT
LIABILITIES
66,454
72,857

CREDITORS
Amounts falling due after more than one
year
8
(30,325
)
(35,000
)

PROVISIONS FOR LIABILITIES (1,144 ) (1,046 )
NET ASSETS 34,985 36,811

CAPITAL AND RESERVES
Called up share capital 33,000 33,000
Retained earnings 1,985 3,811
SHAREHOLDERS' FUNDS 34,985 36,811

The notes form part of these financial statements

Page 2 continued...
KENKLEEN LIMITED (REGISTERED NUMBER: SC144064)

STATEMENT OF FINANCIAL POSITION - continued
31ST MARCH 2022


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2022 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.

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

The financial statements were approved by the Board of Directors and authorised for issue on 16th November 2022 and were signed on its behalf by:




A J K Oliver - Director



M J W Oliver - Director


The notes form part of these financial statements

Page 3
KENKLEEN LIMITED (REGISTERED NUMBER: SC144064)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2022

1. STATUTORY INFORMATION

Kenkleen Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

In light of the situation at the year end regarding COVID-19 the Directors have considered the potential impact of the current pandemic on the business. The Directors are satisfied that, with the use of support schemes available, the Company has sufficient reserves to meet all financial obligations for the foreseeable future. As a result, the Directors believe that the company will continue as a going concern and the accounts have been prepared on this basis.

Turnover
Turnover represents the value, net of value added tax and discounts, of work carried out in respect of services provided to customers. Revenue is recognised in the accounting period in which the services are rendered when the outcome of the contract can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Equipment - 15% on reducing balance

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

Financial assets
Basic financial assets, including trade and other debtors and bank balances, are initially recognised at transaction price.
At the end of each reporting period financial assets measured at cost are assessed for evidence of impairment. Any impairment loss is recognised in the Income and Expenditure Account.
Financial assets are derecognised when the contractual rights to the cash flows from the asset expire or are settled.

Financial liabilities
Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. These are classed as current liabilities is payment is due within one year or less. If not they are presented as non-current liabilities.
Financial liabilities are decolonised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.


Page 4 continued...
KENKLEEN LIMITED (REGISTERED NUMBER: SC144064)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2022

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 21 (2021 - 25 ) .

Page 5 continued...
KENKLEEN LIMITED (REGISTERED NUMBER: SC144064)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2022

4. TANGIBLE FIXED ASSETS
Computer
Equipment equipment Totals
£    £    £   
COST
At 1st April 2021 21,642 - 21,642
Additions 516 901 1,417
At 31st March 2022 22,158 901 23,059
DEPRECIATION
At 1st April 2021 15,977 - 15,977
Charge for year 927 135 1,062
At 31st March 2022 16,904 135 17,039
NET BOOK VALUE
At 31st March 2022 5,254 766 6,020
At 31st March 2021 5,665 - 5,665

5. STOCKS
2022 2021
£    £   
Stocks 850 850
Work-in-progress - 13,091
850 13,941

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 102,259 58,699
Other debtors 3,702 25,422
105,961 84,121

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 660 583
Taxation and social security 21,036 38,793
Other creditors 37,790 37,750
59,486 77,126

Page 6 continued...
KENKLEEN LIMITED (REGISTERED NUMBER: SC144064)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2022

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 30,333 35,000
Other creditors (8 ) -
30,325 35,000

9. RELATED PARTY DISCLOSURES

A Oliver and M Oliver, directors, are also directors in Border Laundry Service Ltd.
The company has provided services to Border Laundry Service Ltd to the value of £680 (2021 £NIL) in the year, received services to the value of £NIL (2021 £669) and was charged rent to the value of £5,000 (2021 £5,000). At the year end the company was owed £2,072 (2021 £1,392) by Border Laundry Service Ltd and were due £10,000 (2021 £5,000) to Border Laundry Service Ltd.

Page 7
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
KENKLEEN LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kenkleen Limited for the year ended 31st March 2022 which comprise the Statement of Income and Retained Earnings, 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Kenkleen Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Kenkleen Limited and state those matters that we have agreed to state to the Board of Directors of Kenkleen Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Kenkleen 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 Kenkleen Limited. You consider that Kenkleen 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 Kenkleen 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 financial statements.






JRW
Chartered Accountants
19 Buccleuch Street
Hawick
Roxburghshire
TD9 0HL


16th November 2022

This page does not form part of the statutory financial statements

Page 8