Kettle Collective Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC425306 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2019

for

Kettle Collective Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C Bone

A Kettle

REGISTERED OFFICE:

90a George Street

Edinburgh

EH2 3DF

REGISTERED NUMBER:

SC425306 (Scotland)

ACCOUNTANTS:

Neil Nisbet & Co.

2nd Floor

Thain House

226 Queensferry Road

Edinburgh

EH4 2BP

FIXED ASSETS

Intangible assets

4

5,140

6,170

Tangible assets

5

16,679

24,049

21,819

30,219

CURRENT ASSETS

Debtors

6

2,046,630

1,681,756

Cash at bank

1,919

30,486

2,048,549

1,712,242

CREDITORS

Amounts falling due within one year

7

1,164,230

1,050,779

NET CURRENT ASSETS

884,319

661,463

TOTAL ASSETS LESS CURRENT LIABILITIES

906,138

691,682

CREDITORS

Amounts falling due after more than one year

8

(58,317

)

-

PROVISIONS FOR LIABILITIES

(3,175

)

(4,575

)

NET ASSETS

844,646

687,107

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

844,546

687,007

SHAREHOLDERS' FUNDS

844,646

687,107

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors on 14 February 2020 and were signed on its behalf by:

C Bone - Director

A Kettle - Director

1.	STATUTORY INFORMATION

Kettle Collective Ltd 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover represents net income from operating activities, excluding value added tax.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

20% on cost

Plant and machinery etc

-

33% on cost, 25% on cost and 20% on cost

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2018 - 27 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2019

and 31 December 2019

10,298

AMORTISATION

At 1 January 2019

4,128

Charge for year

1,030

At 31 December 2019

5,158

NET BOOK VALUE

At 31 December 2019

5,140

At 31 December 2018

6,170

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2019

15,631

88,835

104,466

Additions

-

3,003

3,003

At 31 December 2019

15,631

91,838

107,469

DEPRECIATION

At 1 January 2019

9,670

70,747

80,417

Charge for year

3,126

7,247

10,373

At 31 December 2019

12,796

77,994

90,790

NET BOOK VALUE

At 31 December 2019

2,835

13,844

16,679

At 31 December 2018

5,961

18,088

24,049

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade debtors

924,547

921,985

Other debtors

1,122,083

759,771

2,046,630

1,681,756

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Bank loans and overdrafts

258,448

93,423

Trade creditors

171,206

211,633

Taxation and social security

89,346

60,165

Other creditors

645,230

685,558

1,164,230

1,050,779

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.19

31.12.18

£

£

Bank loans

58,317

-

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.19

31.12.18

£

£

Bank overdrafts

236,734

93,423

The company has granted a bond and floating charge over its assets in favour of its bankers, HSBC Bank plc, in

connection with the overdraft facility the company has with the bank.

10.	RELATED PARTY DISCLOSURES

The directors have granted a joint and several personal guarantee of £75,000 in respect of part of the overdraft

facilities the company has with its bankers, HSBC Bank plc.