Kingsmead Developments Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: SC152655 (Scotland)

KINGSMEAD DEVELOPMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2017

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTOR:

S L Hall

SECRETARY:

S M Hall

REGISTERED OFFICE:

4 Royal Crescent

Glasgow

G3 7SL

REGISTERED NUMBER:

SC152655 (Scotland)

ACCOUNTANTS:

Russell & Russell

Chartered Accountants

4 Royal Crescent

Glasgow

G3 7SL

BANKERS:

NatWest

The following reproduces the text of the report prepared for the director 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 Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Director 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 Kingsmead Developments Limited for the year ended 31st August 2017 which comprise

the Income Statement, Balance Sheet, 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 director of Kingsmead Developments Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Kingsmead Developments Limited and state those matters that we have agreed to state to the director of Kingsmead Developments Limited 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 director for our work or for this report.

It is your duty to ensure that Kingsmead Developments 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 Kingsmead Developments Limited. You consider that Kingsmead Developments 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 Kingsmead Developments 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.

Russell & Russell

Chartered Accountants

4 Royal Crescent

Glasgow

G3 7SL

5th April 2018

FIXED ASSETS

Tangible assets

4

2,746

837

CURRENT ASSETS

Debtors

5

1,738

2,428

Cash at bank

16,263

10,836

18,001

13,264

CREDITORS

Amounts falling due within one year

6

12,571

8,506

NET CURRENT ASSETS

5,430

4,758

TOTAL ASSETS LESS CURRENT LIABILITIES

8,176

5,595

PROVISIONS FOR LIABILITIES

538

167

NET ASSETS

7,638

5,428

CAPITAL AND RESERVES

Called up share capital

7

2

2

Retained earnings

7,636

5,426

SHAREHOLDERS' FUNDS

7,638

5,428

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the director on 26th March 2018 and were signed by:

S L Hall - Director

1.	STATUTORY INFORMATION

Kingsmead Developments 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

The turnover shown in the profit and loss account represents the sales value of work done during the year,

exclusive of Value Added Tax.

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.

Company website

-

20% straight line

Fixtures and fittings

-

20% straight line

Computer equipment

-

20% straight line

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual

arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is

any contract that evidences a residual interest in the assets of the company after deducting all of its

liabilities.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2016 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Company

and

Computer

website

fittings

equipment

Totals

£

£

£

£

COST

At 1st September 2016

1,250

6,000

2,629

9,879

Additions

600

-

1,949

2,549

At 31st August 2017

1,850

6,000

4,578

12,428

DEPRECIATION

At 1st September 2016

1,250

6,000

1,792

9,042

Charge for year

-

-

640

640

At 31st August 2017

1,250

6,000

2,432

9,682

NET BOOK VALUE

At 31st August 2017

600

-

2,146

2,746

At 31st August 2016

-

-

837

837

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.17

31.8.16

£

£

Other debtors

1,738

2,428

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.17

31.8.16

£

£

Trade creditors

1,440

1,440

Taxation and social security

5,729

-

Other creditors

5,402

7,066

12,571

8,506

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.17

31.8.16

value:

£

£

2

Ordinary

£1

2

2

8.	RELATED PARTY DISCLOSURES

NATIV (UK) Ltd

31.8.17

31.8.16

£

£

Amount due from related party at the balance sheet date

1,738

1,605

No interest is due on this amount.

9.	ULTIMATE CONTROLLING PARTY