Company Registration No. SC503426 (Scotland)
KIRKTON CONTROLS HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2019
PAGES FOR FILING WITH REGISTRAR
KIRKTON CONTROLS HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
KIRKTON CONTROLS HOLDINGS LIMITED
BALANCE SHEET
AS AT
30 APRIL 2019
30 April 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Investments
2
66
66
Current assets
Debtors
3
525,150
549,509
Creditors: amounts falling due within one year
4
(12,363)
(10,982)
Net current assets
512,787
538,527
Total assets less current liabilities
512,853
538,593
Capital and reserves
Called up share capital
5
132
132
Profit and loss reserves
512,721
538,461
Total equity
512,853
538,593
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 April 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 30 January 2020 and are signed on its behalf by:
Mr Malcolm Haddock
Mr Colin Hart
Director
Director
Company Registration No. SC503426
KIRKTON CONTROLS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2019
- 2 -
1
Accounting policies
Company information
Kirkton Controls Holdings Limited is a private company limited by shares incorporated in Scotland. The registered office is The Rear of 33 Main Street, Holytown, North Lanarkshire, ML1 4TH.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
KIRKTON CONTROLS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2019
1
Accounting policies
(Continued)
- 3 -
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Fixed asset investments
2019
2018
£
£
Investments
66
66
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 May 2018 & 30 April 2019
66
Carrying amount
At 30 April 2019
66
At 30 April 2018
66
3
Debtors
2019
2018
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
525,150
549,509
KIRKTON CONTROLS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2019
- 4 -
4
Creditors: amounts falling due within one year
2019
2018
£
£
Other creditors
12,363
10,982
5
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
132 Ordinary shares @ £1 each
132
132