Company Registration No. SC387421 (Scotland)
Kelsom Financial Limited
Unaudited accounts
for the year ended 31 December 2016
Kelsom Financial Limited
Unaudited accounts
Contents
Kelsom Financial Limited
Company Information
for the year ended 31 December 2016
Directors
J P Kelly
M Sommerville
Company Number
SC387421 (Scotland)
Registered Office
2 West Regent Street
Glasgow
G2 1RW
Accountants
Assenti & Noble Ltd
18 Mosshead Road
Bearsden
Glasgow
G61 3HN
Kelsom Financial Limited
Statement of financial position
as at 31 December 2016
Cash at bank and in hand
3,460
1,087
Creditors: amounts falling due within one year
(215,715)
(76,293)
Net current liabilities
(158,199)
(75,117)
Net liabilities
(157,787)
(74,567)
Called up share capital
100
100
Profit and loss account
(157,887)
(74,667)
Shareholders' funds
(157,787)
(74,567)
For the year ending 31 December 2016 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.
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.
Approved by the Board on 22 August 2017.
J P Kelly
Director
Company Registration No. SC387421
Kelsom Financial Limited
Notes to the Accounts
for the year ended 31 December 2016
Kelsom Financial Limited is a private company, limited by shares, registered in Scotland, registration number SC387421. The registered office and principal place of business is 2 West Regent Street, Glasgow, G2 1RW.
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.
These financial statements for the year ended 31 December 2016 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 January 2015
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 represents net invoiced sales, excluding value added tax.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% reducing balance
The balance sheet shows that the company has an excess of liabilities over assets. The accounts have been prepared on a going concern basis assuming the continuing financial support of the company's directors.
4
Tangible fixed assets
Computer equipment
Kelsom Financial Limited
Notes to the Accounts
for the year ended 31 December 2016
Accrued income and prepayments
32,056
-
6
Creditors: amounts falling due within one year
2016
2015
Taxes and social security
641
-
Other creditors
82,092
75,461
Loans from directors
132,000
-
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
8
Transactions with related parties
The company was under the control of its directors, Jon Paul Kelly and Mark Sommerville, throughout the year.
At the year end the company owed £66,000 (2015: £nil) to J P Kelly.
At the year end the company owed £66,000 (2015: £nil) to M Sommerville.
9
Average number of employees
During the year the average number of employees was 0 (2015: 0).
