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KS Change and Project Services Ltd SC581410 false 2017-12-06 2018-11-30 2018-11-30 The principal activity of the company is has been providing business analysis and project management in the financial services sector Digita Accounts Production Advanced 6.24.8820.0 Software true SC581410 2017-12-06 2018-11-30 SC581410 2018-11-30 SC581410 bus:OrdinaryShareClass1 2018-11-30 SC581410 core:RetainedEarningsAccumulatedLosses 2018-11-30 SC581410 core:ShareCapital 2018-11-30 SC581410 core:CurrentFinancialInstruments 2018-11-30 SC581410 core:CurrentFinancialInstruments core:WithinOneYear 2018-11-30 SC581410 core:FurnitureFittingsToolsEquipment 2018-11-30 SC581410 bus:SmallEntities 2017-12-06 2018-11-30 SC581410 bus:AuditExemptWithAccountantsReport 2017-12-06 2018-11-30 SC581410 bus:FullAccounts 2017-12-06 2018-11-30 SC581410 bus:SmallCompaniesRegimeForAccounts 2017-12-06 2018-11-30 SC581410 bus:RegisteredOffice 2017-12-06 2018-11-30 SC581410 bus:Director1 2017-12-06 2018-11-30 SC581410 bus:OrdinaryShareClass1 2017-12-06 2018-11-30 SC581410 bus:PrivateLimitedCompanyLtd 2017-12-06 2018-11-30 SC581410 bus:Agent1 2017-12-06 2018-11-30 SC581410 core:FurnitureFittingsToolsEquipment 2017-12-06 2018-11-30 SC581410 countries:Scotland 2017-12-06 2018-11-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC581410

KS Change and Project Services Ltd

Annual Report and Unaudited Financial Statements

for the Period from 6 December 2017 to 30 November 2018

Roderick Gunkel & Associates Ltd
Chartered Certified Accountants
Orchardlea
Callander
FK17 8BG

 

KS Change and Project Services Ltd

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Balance Sheet

4

Notes to the Financial Statements

5 to 7

 

KS Change and Project Services Ltd

Company Information

Directors

Kirsteen Jan Scobbie

Registered office

9/1 Woodburn Terrace
Edinburgh
EH10 4SH

Bankers

Bank of Scotland plc
41 South Gyle Crescent
Edinburgh
EH12 9DR

Accountants

Roderick Gunkel & Associates Ltd
Chartered Certified Accountants
Orchardlea
Callander
FK17 8BG

 

KS Change and Project Services Ltd

Director's Report for the Period from 6 December 2017 to 30 November 2018

The director presents her report and the financial statements for the period from 6 December 2017 to 30 November 2018.

Incorporation

The company was incorporated on 13 November 2017 and commenced trading on 6 December 2017

Director of the company

The director who held office during the period was as follows:

Kirsteen Jan Scobbie

Principal activity

The principal activity of the company has been providing business analysis and project management in the financial services sector

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless she is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable her to ensure that the financial statements comply with the Companies Act 2006 and in accordance with FRS 102 Section 1A - Small Entities, the applicable Financial Reporting Standard. She is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the director on 22 February 2019 and signed on its behalf by:

.........................................
Kirsteen Jan Scobbie
Director

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
KS Change and Project Services Ltd
for the Period Ended 30 November 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of KS Change and Project Services Ltd for the period ended 30 November 2018 as set out on pages 4 to 7 from the company's accounting records and from information and explanations you have given us.
 

As a member of the Association of Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.
 

This report is made solely to the Board of Directors of KS Change and Project Services Ltd , as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of KS Change and Project Services Ltd and state those matters that we have agreed to state to the Board of Directors of KS Change and Project Services Ltd, as a body, in this report.

This is in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.doc. And, to the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than KS Change and Project Services Ltd and its Board of Directors as a body for our work or for this report.
 

It is your duty to ensure that KS Change and Project Services Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of KS Change and Project Services Ltd. You consider that KS Change and Project Services Ltd is exempt from the statutory audit requirement for the period.
 

We have not been instructed to carry out an audit or a review of the accounts of KS Change and Project Services Ltd. 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 accounts.

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....................................................................

Roderick Gunkel & Associates Ltd
Chartered Certified Accountants
Orchardlea
Callander
FK17 8BG


 

22 February 2019

 

KS Change and Project Services Ltd

(Registration number: SC581410)
Balance Sheet as at 30 November 2018

Note

2018
£

Fixed assets

 

Tangible assets

4

1,500

Current assets

 

Cash at bank and in hand

 

52,123

Creditors: Amounts falling due within one year

5

(17,891)

Net current assets

 

34,232

Net assets

 

35,732

Capital and reserves

 

Called up share capital

6

100

Profit and loss account

35,632

Total equity

 

35,732

For the financial period ending 30 November 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 22 February 2019
 

.........................................

Kirsteen Jan Scobbie
Director

 

KS Change and Project Services Ltd

Notes to the Financial Statements for the Period from 6 December 2017 to 30 November 2018

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
9/1 Woodburn Terrace
Edinburgh
EH10 4SH

These financial statements were authorised for issue by the director on 22 February 2019.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

KS Change and Project Services Ltd

Notes to the Financial Statements for the Period from 6 December 2017 to 30 November 2018

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings, equipment

20-50% p.a reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 2.

 

KS Change and Project Services Ltd

Notes to the Financial Statements for the Period from 6 December 2017 to 30 November 2018

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

2,180

2,180

At 30 November 2018

2,180

2,180

Depreciation

Charge for the period

680

680

At 30 November 2018

680

680

Carrying amount

At 30 November 2018

1,500

1,500

5

Creditors

Creditors: amounts falling due within one year

Note

2018
£

Due within one year

 

Loans and overdrafts

7

238

Taxation and social security

 

4,498

Other creditors

 

13,155

 

17,891

6

Share capital

Allotted, called up and fully paid shares

 

2018

 

No.

£

Ordinary shares of £1 each

100

100

     

7

Loans and borrowings

2018
£

Current loans and borrowings

Director current account

238