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

REGISTERED NUMBER: SC425306 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2017

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

7,200

8,230

Tangible assets

5

30,866

39,714

38,066

47,944

CURRENT ASSETS

Debtors

6

1,576,006

1,202,686

Cash at bank

9,102

40,219

1,585,108

1,242,905

CREDITORS

Amounts falling due within one year

7

1,187,132

1,058,594

NET CURRENT ASSETS

397,976

184,311

TOTAL ASSETS LESS CURRENT LIABILITIES

436,042

232,255

PROVISIONS FOR LIABILITIES

5,850

7,550

NET ASSETS

430,192

224,705

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

430,092

224,605

SHAREHOLDERS' FUNDS

430,192

224,705

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 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 Board of Directors on 3 September 2018 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 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

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

-

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 (2016 - 22 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2017

and 31 December 2017

10,298

AMORTISATION

At 1 January 2017

2,068

Charge for year

1,030

At 31 December 2017

3,098

NET BOOK VALUE

At 31 December 2017

7,200

At 31 December 2016

8,230

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2017

15,631

70,323

85,954

Additions

-

6,401

6,401

At 31 December 2017

15,631

76,724

92,355

DEPRECIATION

At 1 January 2017

3,709

42,531

46,240

Charge for year

2,981

12,268

15,249

At 31 December 2017

6,690

54,799

61,489

NET BOOK VALUE

At 31 December 2017

8,941

21,925

30,866

At 31 December 2016

11,922

27,792

39,714

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade debtors

1,198,776

875,777

Other debtors

377,230

326,909

1,576,006

1,202,686

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Bank loans and overdrafts

131,133

-

Trade creditors

105,503

83,344

Taxation and social security

47,623

47,017

Other creditors

902,873

928,233

1,187,132

1,058,594

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.17

31.12.16

£

£

Bank overdraft

131,133

-

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.

9.	RELATED PARTY DISCLOSURES

The directors have granted a joint and several personal guarantee of £25,000 in respect of part of the overdraft facilities the

company has with its bankers, HSBC Bank plc.