Company Registration No. 03914706 (England and Wales)
Kishorn Specialist Contractors Limited
Unaudited accounts
for the year ended 30 June 2022
Kishorn Specialist Contractors Limited
Unaudited accounts
Contents
Kishorn Specialist Contractors Limited
Company Information
for the year ended 30 June 2022
Directors
Michael Tweats
Daniel Tweats
Company Number
03914706 (England and Wales)
Registered Office
c/o Godfrey Holland Accountants
Suite 4bc, Landmark House, Station Road
Cheadle Hulme
Cheshire
SK8 7BS
England
Accountants
CMM Accountancy (Inverness) Limited
The Green House
Beechwood Business Park North
Inverness
IV2 3BL
Kishorn Specialist Contractors Limited
Statement of financial position
as at 30 June 2022
Tangible assets
27,133
81,633
Inventories
688,312
790,400
Cash at bank and in hand
1,269,233
1,039,323
Creditors: amounts falling due within one year
(1,276,839)
(812,907)
Net current assets
2,149,013
1,764,107
Total assets less current liabilities
2,176,146
1,845,740
Provisions for liabilities
Deferred tax
(2,039)
(8,001)
Net assets
2,174,107
1,837,739
Called up share capital
2
2
Profit and loss account
2,174,105
1,837,737
Shareholders' funds
2,174,107
1,837,739
For the year ending 30 June 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 13 February 2023 and were signed on its behalf by
Michael Tweats
Director
Company Registration No. 03914706
Kishorn Specialist Contractors Limited
Notes to the Accounts
for the year ended 30 June 2022
Kishorn Specialist Contractors Limited is a private company, limited by shares, registered in England and Wales, registration number 03914706. The registered office is c/o Godfrey Holland Accountants , Suite 4bc, Landmark House, Station Road, Cheadle Hulme, Cheshire, SK8 7BS, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% straight line
Motor vehicles
25% straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Kishorn Specialist Contractors Limited
Notes to the Accounts
for the year ended 30 June 2022
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Total
Charge for the year
40,351
Carrying values included above held under finance leases and hire purchase contracts:
£
£
5
Average number of employees
During the year the average number of employees was 29 (2021: 37).
