Company Registration No. SC549688 (Scotland)
Kingston Inverness Limited
Unaudited accounts
for the year ended 31 March 2023
Kingston Inverness Limited
Unaudited accounts
Contents
Kingston Inverness Limited
Company Information
for the year ended 31 March 2023
Directors
L Savage
N Cordiner
Company Number
SC549688 (Scotland)
Registered Office
Kingston
15 Drummond Road
Inverness
IV2 4NB
Accountants
CMM Accountancy (Inverness) Limited
The Green House
Beechwood Business Park North
Inverness
IV2 3BL
Kingston Inverness Limited
Statement of financial position
as at 31 March 2023
Tangible assets
2,859
4,795
Investment property
535,000
544,852
Cash at bank and in hand
20,462
26,103
Creditors: amounts falling due within one year
(475,016)
(490,863)
Net current liabilities
(454,554)
(464,760)
Total assets less current liabilities
83,305
84,887
Provisions for liabilities
Deferred tax
(3,090)
(5,647)
Called up share capital
100
100
Profit and loss account
80,115
79,140
Shareholders' funds
80,215
79,240
For the year ending 31 March 2023 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 21 November 2023 and were signed on its behalf by
L Savage
Director
Company Registration No. SC549688
Kingston Inverness Limited
Notes to the Accounts
for the year ended 31 March 2023
Kingston Inverness Limited is a private company, limited by shares, registered in Scotland, registration number SC549688. The registered office is Kingston, 15 Drummond Road, Inverness, IV2 4NB.
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:
Fixtures & fittings
15% straight line
Computer equipment
25% straight line
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Kingston Inverness Limited
Notes to the Accounts
for the year ended 31 March 2023
4
Tangible fixed assets
Total
5
Average number of employees
During the year the average number of employees was 0 (2022: 0).
